This business proposal discusses strategies for various companies including Ben's Book Barn, Wanye Bank of Gotham, Unilever and more. It covers topics such as online marketing, customer centric applications, marketing communication, cross-sector marketing communications, customer empowerment, and maintaining business networks.
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Running head: BUSINESS PROPOSAL Business Proposal Name of Student Name of University Author note
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1 BUSINESS PROPOSAL 1.Chosen company: Ben’s Book Barn For securing a wider consumer base and extending the brand value, the company will need to implement modified tools and techniques that suits a divergent media environment. Online marketing facility is an effective and convenient strategy for reaching out to diverse communities across the world. Purchasers will be able to browse books online and avail editions that may not be available in their local bookstores. The feedback forums and customer service facility helps building trust and extends the marketing prospects of the company. It is suitable within a divergent media environment since the internet is a global forum where consumers from differing backgrounds and ethnicity can come together for sharing their purchasing experience. The tool of media communication will be an effective strategy for boosting up sales and getting in touch with international customers. 2.Customer centric application for Wanye Bank of Gotham The industry can introduce an exclusive banking application (preferably android) for customers of the company, so they can avail secondary benefits that are usually not offered by other private banks. A customer centric application must aim for better understanding of the customer, design experience, empower the frontline and encourage feedbacks that drive continuousimprovement.Theapplicationtherefore,willbedesignedaccordinglyto propagate direct contact between bankers and customers, the feedback page should be made mandatory and there should be different bankers allotted with different expertise for ensuring customer satisfaction. If the customers are able to get in touch with experts at any odd hour, not only will it build up consumer loyalty but also enhance brand value of the organization. The features of the application must include secured login, a viewable record of transaction history and account balance, 24/7 service availability, instant notifications and
2 BUSINESS PROPOSAL receive alerts. These features will ensure appropriate functioning of business operation. For verifying the viability of the features, the facility must collaborate with app experts who can provide guidance for proper functioning of the application. Consulting software developers would be a suitable option for programming the unique application. Concentrating focus on consumer satisfaction will enable the organization to get into the good books of the consumer base. 3.Recommendations for developing marketing communication The objective of communication tools is to maximize the target audience, boost up sales and provide a forum for customer feedback. An effective communication tool is vital for a company launching a new product. The advent of new media along with new technology have changed the methods of marketing communication and most companies rely on digital media for launching and publicizing a new product. Extending public relations and implementing direct marketing are two apt recommendations for this purpose.The platforms for public relations include local and international publication, holding seminars and distributing kits. These are operative strategies for reaching an extended target audience and maximizing sales rate of a new product. Since customers need quality assurance of a new product it will be tactful on the company’s behalf to publicize the product by offering free samples and demonstrating product in public. Direct marketing is ideal for a company launching a new product as it provides a proper platform for customer feedback and offers personalized services for the consumers. 4.Solutions for cross-sector marketing communications of Unilever Collaborations of sectors is a common profitable strategy employed by organizations for extending sales, but maintaining healthy marketing communications is an important
3 BUSINESS PROPOSAL aspect of cross-sector partnerships. Unilever will benefit in manufacturing and sales if engaged in cross-sector marketing communications. The solutions for this is classified into three categories, namely philanthropic, transactional and integrative (Austin 2013). Philanthropically, Unilever can engage in charitable contributions, gifts to the NPO (nonprofit organization) for initiating business rationale, brand recognition, alignment and reaching new target market. For transactional collaboration can opt for commercial and social sponsorship. Under this procedure the organization will exchange in-kind or cash contributions for promoting products. This will increase awareness in media and publicalong withgrowingrevenuesand boostedsales.For socio-sponsorship the resources of the business will meet social requirements and receive recompense rewards in return. The integrative collaboration will have alliance and joint ventures. This will have to implement cross-sector market communications for solving a social issue of mutual concern. This method will aim at creating new collaborative value. This will provide innovative opportunities and administrative changes for the business. 5.Channels for empowering customers The growth and development of any organization lies with the customers and hence effective steps should be taken towards consumer empowerment. An active platform for feedback and reviews along with private contact with consumers would be extremely effective channels for customer empowerment. Feedbacks will be sought from informal and formal appraisals in performance, colleagues and clients, workplace assessments and regular meetings. All business organizations must have well developed consumer forums where purchasers can present their queries, complaints and feedbacks without any hesitation. It will be best if the channel operated online and anonymously so consumers
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4 BUSINESS PROPOSAL can avoid being singled out and vocalize their opinions without feeling reluctant. The company workers are expected to develop communication skills required for receiving feedbacks, managing conflicts professionally and maintaining healthy relationships with clients. 6.Organization’s policy for maintaining contact with business networks and client The organizational requirements for maintaining proper business network and cordial relationship with clients include written, telephonic and facsimile communications. Face to face meetings are integral to a well-functioning business network. The policies will be designed in a way to keep and update records of emails, transactions, informationand databases. The administrationwilltakechargeofmediainvolvement,collectionofconsumerfees, communication with operational heads and corporate image (Knoke 2018).For maintaining a loyalconsumerbase,thebusinesspolicywillrequireproperconsumerservices.The responsibilities of the organization will be to protect the consumers from harm, maintain confidentiality of consumer and preserve information. For improving business operations, the organizational policies will hire proper human resource management to handle challenging behaviors, incident reporting and also make provision for home visits. A high functioning business organization banks on the extended networks and suitable client service for functioning properly.
5 BUSINESS PROPOSAL REFERENCES: Austin, J.E., 2013. Marketing’s role in cross-sector collaboration. InNonprofit and business sector collaboration(pp. 31-47). Routledge. Knoke, D., 2018.Changing organizations: Business networks in the new political economy. Routledge.