Effective marketing

Any company organization that uses effective marketing will succeed

Revenue generation is key to the financial health and expansion of every business because it fuels marketing. More people now understand marketing to be a collection of organizational procedures involving a company’s involvement in overall market-oriented conduct. It is essential for a company firm to create a marketing department that directs its marketing initiatives. The relationship between performance and behavior that is focused on the market is significantly influenced by the marketing department. An effective market function and a market-oriented approach are interdependent. Top managers should therefore strengthen the marketing department in order to match the company with the market and thereby boost performance.

Elements of marketing concept

Marketing encompasses a wide set of techniques and concepts. However, some basic elements tie all marketing concepts together. It is, therefore, important for business owners or managers to understand the fundamentals of marketing.

Market evolution

One of the elements of the marketing concept is market evolution. Marketing has progressed through many distinct phases such as the simple trade, the production, the sales, the marketing department, and the market company eras. During the simple trade era, most commodities were available in limited supply and were made by hand. It lasted from the beginning of times to the mid 19th century. At the time of the industrial revolution, the production era replaced the simple trade era. There was an increase in the mass production and the availability of product options in the marketplace. The sales era entailed increased competition for market share by various businesses. Therefore, businesses had to put more effort to sell to their clients. It is the era when commoditization emerged and the price became a distinguishing competitive advantage. The era that followed was the marketing department era. The marketing department era followed. Manufacturing firms realized that they needed to change the sales orientation of the past as it was not resonating well with their clients. It was characterized by the consolidation of marketing-related activities such as advertising and public relations into a single department. The marketing company era after the acceptance of the marketing concept that contends that the primary role of businesses is to address customer needs ( Farmer, 2002, p. 911). Therefore, there is a requirement for all employees to be part of the marketing effort with the ultimate goal of satisfying clients.

Market orientation

There are many perspectives in market orientation such as the decision-making, cultural based behavioral, the customer orientation, and the strategic perspectives (Ishak, 2008, p. 110). One conceptualization considers market orientation as the marketing concept implementation while another considers it as an organizational culture. Market orientation provides a platform for the unity of the projects and efforts of departments and people within an organization (Kharabsheh, 2014, p. 426). Therefore, market orientation contains three behavioral components such as competitor orientation, customer orientation, and interfunctional coordination.

The Societal Marketing Concept

It is a concept that holds that businesses should consider consumers’ wants, society’s long-term interests, and the company requirements when making their marketing decisions (Crane, 2002, p. 551). It is the duty of the firm to determine the needs, wants, and interests of their target market to assist them in the efficient delivery of the desired satisfactions better than the competitors. In the process, they should ensure the preservation and enhancement of the consumer and the society’s well-being. It has a close link with the principles of sustainable development and corporate social responsibility (Murphy, 2013, p. 86). Some of the objectives of societal marketing are to protect society’s interests, to help the consumer by the promotion of proper consumption values, and the adoption of leadership roles that advance the society to new levels of moral conduct. Tamims Fried Chicken should consider the effects of its business on the society.

Customer and competitor orientation

Competitive orientation entails the constant reassessment of its strengths and weaknesses compared to its competitors. Each business entity seeks to maximize its advantages at the expense of its competitors (Dev, 2009, p. 20). For instance, Tamims Fried Chicken business may attempt to use its advantages in the hotel industry and perform better than its main competitors and hence gain a bigger market share. Businesses that embrace customer orientation seek to maintain a positive public image (Nwokah, 2009, p.21). Although there may be serious competition, the business strives to focus on serving its customers rather than beating the competitor. In the case of Tamims Fried Chicken, it can strive to offer high-quality food and customer services rather than focusing on their competitors.

Limitations of the marketing concept

One of the limitations of the marketing concept is that some businesses still do not consider customer satisfaction as important. They have to cope with them only because of revenues. Some firms may sell products to consumers with the full knowledge that it is no good for them. Another limitation is that the businesses may ignore environmental and social good when serving their clients (O’shaughnessy, 2003, p. 117). The design of some products may lead to the depletion and wastage of environmental resources in a bid to satisfy customers. Another limitation is that it suppreses innovation.

Market segmentation

Market segmentation involves dividing consumer market into sub-groups of consumers based on shared characteristics such as common interests, needs, and lifestyles (Chaudhuri, 2014, p. 232). In the case of Tamims Fried Chicken, it may divide its business into various sections that serve a diverse clientele base. It may have a section for high net worth, middle income, and low income segments and tailor-make their services to suit each group. It may need to conduct a marketing audit to devise a good segmentation strategy. Once its marketing objectives are clear, the firm’s management can carry out an environmental analysis to determine if the environment is ideal for running its business.

The marketing mix and the extended marketing mix

The marketing mix entails the 4P’s of marketing. It involves having the right product in the right place, at the right time, and at the right price. Its components are product, place, price, and promotion (Gordon, 2012, p.122). The product is built with the aim of satisfying the needs of a group of customers. The product can either be a service or a good. The price is an important component. The business must set the right price that will ensure its growth and survival. It should not set its prices too high or too low but should consider several factors in price determination. In the case of Tamims Fried Chicken, it should set a price that will ensure that it makes sufficient profit as well as attract customers for its food business.

The place is also crucial. Most businesses have to consider the right places to operate their businesses to survive and make a profit. For instance, Tamims Fried Chicken may decide to have its business on a busy street to gain many clients.

Promotion boosts brand recognition and sales. It is comprised of various elements such as public relations, sales organization, advertising, and sales promotion. In the face of stiff competition, businesses need to devise promotion strategies continuously. Tamims Fried Chicken may promote its services by using friendly staff among other approaches.

The extended marketing mix includes the 4P’s. In addition, it has another group of P’s such as people, process, and physical evidence (Dominici, 2009, p. 122). It is essential for a business to determine if it has enough people in the target market that have demand for its products. It is also important to hire the right employees to assist in driving the business agenda. Business Processes affect the execution of services. Tamims Fried Chicken should invest in a well-tailored process to minimize its costs. Some service industries require physical evidence of the delivery of the services. For instance, one of the companies that come to mind at the mention of fast food is McDonalds. The business in this case should establish a brand presence in the marketplace that resonates with the services it offers.

Conclusion

Tamims Fried Chicken can benefit by using well-known marketing strategies to establish its position in the market. It can hire proven marketing experts to assist it in the execution of its marketing strategies. Due to the dynamic business environment, it can benefit by continuously updating and reviewing its strategies to operate profitably and enhance its growth potential.

References

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