Marketing Management Concepts
Added on 2020-01-28
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Marketing Case Study
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1Analysing the decisions that need to be implemented in creating an integrated marketingcommunication plan....................................................................................................................1TASK 2............................................................................................................................................4Evaluating ways to measure the effectiveness of a B2B IMC plan............................................4TASK 3............................................................................................................................................6Four key perspectives developed in balanced score card and their importance in developingbusiness strategies.......................................................................................................................6TASK 4............................................................................................................................................8Importance of STP process in B2B marketing for Viking office products.................................8CONCLUSION................................................................................................................................9REFERENCES..............................................................................................................................11
INTRODUCTIONMarketing refers to commercial activities that are associated with buying and selling ofproduct and services in potential market. Through this management process the company is ableto communicate with its targeted audience. Business to business marketing is another branch of itwhere sale of one enterprise product or service is conducted with other. The concept is littledifferent from consumer marketing as here the buyers make purchasing decisions on price andprofit potential alone. In order to evaluate the impact of integrated marketing communication onB2B marketing the business operations of Viking office products will be examined closely. It is aglobal company established in 1960 and is the largest suppliers of office stationary in the world.The services provided by concerned company relies on sophisticated computerized mailingsystems to send catalogues to its potential clients (Churchill and Iacobucci, 2010).Viking availsits services widely to small and big business enterprises therefore it adopts B2B marketingconcept. TASK 1Analysing the decisions that need to be implemented in creating an integrated marketingcommunication planAdvertising and promotion are essential techniques to attract new and existing customerstowards a product. In today's modern world, marketing team of any organisation does notconcentrate on only one channel of marketing technique. It is essential for business enterprisesto promote their brand in order to increase awareness among individuals and eventually risingtheir sales. Viking office products first identify individuals that best suit to purchase goods andservices, then effective communication take place to influence their purchasing power. It usesdifferent modes like advertising, direct marketing, personal selling, sales promotion, socialmedia and many more. Integrated marketing communication refers to integrating different methods of brandpromotion to promote a particular product or service among target customers (Zeithaml, Bitnerand Gremler, 2010). It makes extensive use of all aspects of marketing communication channelsfor increased sales and maximum cost effectiveness. There are various components of integratedmarketing communication that helps to achieve set marketing targets:1
Foundation stone: According to this element, at first Viking office products makesdetailed analysis of both product and target market. It is important for marketers toidentify and understand the brand, its offerings and end-users. The focus on determiningneeds, attitude and expectations of target customers (Kotler and Armstrong, 2010). Theyalso make proper study of competitors strategies and policies to sustain in the market.Corporate culture: The concerned organisation has its own vision, mission, goals andobjectives that are set to attained. Top level executives prepare various strategies toundertake these operations. Although it is important for marketers to keep in mind theirvision before designing products or services. It helps to balance business operations withthat of its own corporate culture.Brand focus: It refers to reflecting corporate identity of the brand in potential market. It isan initiative to make products and services popular among the end users. Variousmarketing campaign will be conducted to attract new clients along with existing ones(Jobber and Ellis-Chadwick, 2012.). The major focus will be lead on developingcommodity as a brand which will enhance customer loyalty towards organisation.Consumer experience: Another element of integrated marketing communication is todetermine and monitor consumer experience about product. Marketing team and salesrepresentatives take feed backs from potential clients in order to understand theirexpectations and what efforts need to be made to improve their experience. The productsshould meet and exceed clients expectations is the primary objective. Communication tools: Effective communication act as a tool for company to exchangenew ideas and concept of product to targeted individuals. Marketing team uses variousmodes of communication like advertising, direct selling or promotion through socialmedia (Hair Jr and Lukas, 2014).It also helps to resolve various queries related to productand its use. Promotional tools: Viking office products focus on strengthening their relationship withcustomers and external clients. Trade promotion and personal selling are two eminentmodes of promoting goods and services. It helps to create awareness about product andits usage among target customers. Sometimes, brand ambassadors are also hired to seekattention of clients towards commodities. 2
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