Building marketing strategies with link and relationship management
All big organisations believe in teaching marketing skills to their employees. The theory of marketing is applicable to all the organisations, which are operating, on the global scale. With the change in needs and wants of the customer, the organisations have to change accordingly. Hence the need for international marketing strategy arises. The strategies may be classified on the basis of industries and business and are dependent on the generalisations.
The consumer products are further categorised into the niche and regular products depending on the market segment. Products, which cater to the large segment of the market, are often classified into consumable goods and need a different marketing strategy as compared to niche or luxurious goods, which are meant for a specific section of the population. The services which require the physical presence of the customer are termed as people process (processing) services. Marketing is also about learning the scope and SWOT analysis of any international market in the longer run.
Global branding as a tool for designing marketing strategies
It is a well-known fact that global brands enjoy high profits as they operate in more than one market. The cost of production and manufacturing also plays an important role in determining the profit of the company. However, when it comes to reputation and esteem, the global brands have to more conscious since they rely on the trust of their customers. The global players around the world have been making profits with their reputation and brand image. Branding is a long-term process, which requires a lot of effort and exceptional product and service by the organisation. Most iconic global brands have created the image by consistently offering high-quality product and services to their customers. For example, Samsung has established itself as a leading electronic company for the past few years. With a rich product portfolio and high rate of customer satisfaction, the company has created a good image for itself globally. When an organisation decided to leverage on single brand identity, the major challenge is to cope with the local players as they will always have the advantage. The global branding also highlights the importance of paying attention to local markets and defining marketing and advertising strategies, which are meant to lure the local customer. This is the only way to connect with the local customer on a global scale. Samsung has adopted different marketing and advertising strategies for different market. It also pays strong attention towards its product mix and makes sure that its product is viable in any given market.
Strategies for relationship marketing
The goal of every organisation revolves around the satisfaction of its customer. With the help of effective relationship marketing, the organisation can build a positive brand image in the eyes of the consumer. For this the primary objectives of an organisation are:
- To understand the concept of relationship building and identification of the needs of the customers
- To appreciate the dimensions of entrepreneurial and customer relationships
- To know how to build a strong relationship with the customer by enhancing and modifying the existing relationship
The primary role of relationship marketing in defining a competitive strategy is based on several factors like honesty, integrity, and ethical business culture and emotional connects with the customer. The organisations have to make sure that they care for their customers and the customers realise the fact they can rely on the organisation in the darker times. This strategy like a long time to build hence patience is the main ingredient. The employees of the organisation must try to facilitate a healthy communication with the customer to improve the level of satisfaction and generate positive rapport.
Tapping into the needs of customers
The primary goal of any organisation is to tap into the needs of the consumers. This can be done by providing genuine and real solutions to the customers. The organisations should remember that honesty and integrity play an important role in building the rapport so it must be taken seriously at levels of organisations. If the customer is not satisfied with the product or services, it is the duty of the organisation to make sure that appropriate steps are taken to rectify the issue. The goal and objectives of the organisation must be inclined with the needs and want of the customer. This is the only way any organisation can develop products suited for their customers. The marketing approach in this context should be done in such a way so that it establishes a positive image of the organisation in the eyes of the customer. The organisations can opt for the following tactics to improve their authenticity:
- Regular interactions with the customers and asking for feedback on product and services
- Making sure that the customers are provided with the right product and right price
- Accepting their mistakes in case on any issues and making sure that the problem of customer is treated with high priority
These small steps take relationship marketing to the next level and also show the authenticity of the organisation to the customers.