Written by: Varad Patil | Vidwaan Voyager 2020 | MMS. (PHIMSR)
Successfully match the product with respect to service strengths with the requirements of customers. Position the price to align the product in market strongly. Communication with buyer value effectively to strengthen the market.
Think deeply about who you are, what you do, your target audience and your competition, this should set the tone for all creative and marketing outputs. I feel that a notable characteristic of marketing is relating to both i.e. Product and Service. Marketing leads with feedback of customer and their need or problem. The buyer or customer is often a group or committee or department comprising several individuals who have specific roles in evaluating the proposed product or service. Sometime the buyer is mostly an individual who needs the product or service for his or her own use.B2B marketing is different from B2C in some crucial ways, including the need to align corporate brands, divisional brands and product/service brands and to apply brand standards to material often considered “informal” such as email and other electronic correspondence. It is mainly of large scale when compared with B2C.
Now a days the technology is changing at tremendous pace, and these changes are speeding up the pace of new product and service development. A large part of that has to do with the Internet. Technology and business strategy both are correlated. While technology supports forming organization strategy, the business strategy is also helpful in technology development. Both play a role in business marketing. I feel that Adaptability, flexibility, speed, aggressiveness and innovativeness are the keys for marketing today. Marketing requires new uses for existing products, and by creating new processes for sales, distribution and customer service. We have to adopt new frameworks, theories, models and concepts for better future. Be sure you make a plan, stick to it, update it and make a note of what works and what doesn’t. It’s about being consistent but remaining flexible and open to change. When you have developed this well thought out plan, don’t just stop if it doesn’t work, keep going, it may be a question of campaign length for it to work i.e. one newspaper ad may not get you anywhere, a six-month campaign will bring much better results.
You may need to develop the strategy, continue to update the plan, tweak the outputs and your proposition. The development plan is the same as in marketing. Most of all, its goal is to appeal to and delight more and more users based on the target market. Like in marketing its designed to work, but it can always work a little better. Better marketing means better clients. Continue to update and develop the marketing output to achieve the desired results. Stick to this plan going forward and update it constantly to move one step closer to your goal. Refine your sales, lose the customers you don’t want and keep the kind of clients you value most. Improve your ‘value proposition’ to potential customers and get the ones you want. Your marketing can do this for you, if you stick to, analyze and update your plan. Analyze your business in depth either at the beginning or during a business refresh, or what we call in the trade, re-positioning your business. It will help you to understand your brand, positioning and business identity. Ultimately it will define the image you can live up to, keep it consistent in your marketing and honest in your approach. Your customers will look to you for honest answers. The truth is in you, you just need to know where and how to apply it.
References:-
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Anderson, James C., and Narus, James A. (2004) Business Market Management: Understanding, Creating, and Delivering Value, 2nd Edition, 2004, Pearson Education, Inc. ISBN 978-0131408418
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Business Marketing Association (2003) “Marketing Reality Survey”
