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Marketing Mix Techniques - PDF

   

Added on  2021-04-17

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RUNNING HEAD: MarketingMarketing

Marketing 1ContentsIntroduction......................................................................................................................................2Key Terms and Definition...............................................................................................................2Customer Relationship Management (CRM)..............................................................................2Market Orientation.......................................................................................................................3Customer Centric.........................................................................................................................3Customer Relationship Management (CRM) Techniques...............................................................3Range of CRM techniques...........................................................................................................3Range of CRM techniques for Emirates Airline and its effectiveness........................................4Recommendations for improving current CRM techniques............................................................5Promotional Mix Techniques..........................................................................................................6Promotional mix...........................................................................................................................6Promotional mix techniques.........................................................................................................6Evaluation of current promotional mix strategies........................................................................8Other promotional mix strategies.................................................................................................9Conclusion.....................................................................................................................................11References......................................................................................................................................11

Marketing 2IntroductionAs a Marketing Consultant for A Business Consultants Ltd., the following report has been prepared to be addressed to the Marketing Director of Emirates Airline. This report evaluates the effectiveness of CRM techniques currently used by Emirates Airline for developing their market orientation and customer centric objectives along with some recommendation for improving CRM. This report also evaluates the promotional mix techniques adopted by Emirates Airline along with some suggestions regarding a promotional mix strategy which could be utilized by Emirates Airline in the future.Emirates is a Dubai based airline which was founded in the year 1985. Today Emirates has become one of the largest airlines in the world. It aims at offering their customers the comforts ofmost efficient and latest wide-body Aircraft in the skies. Emirates have a growing network of global destinations, regionally inspired cuisines, industry prominent inflight entertainment and world- class service.In order to make its offerings more promising to the target audience, Emirates group has positioned itself on the basis of psychographic and geographic segmentation. Brand equity is witnessed in the marketing strategy of Emirates Airline. For the purpose of attracting the customers, various promotional drives have been initiated such as frequent flyer program. Moreover, loyalty programs such as Skywards have been introduced for encouraging the loyal customers for making the continuous use of the services of Emirates Airlines which in turn will provide them with redeemable points which could be utilized in future. Key Terms and DefinitionCustomer Relationship Management (CRM) Customer relationship management can be defined as the strategies, practices and technologies used by the companies for the purpose of managing and analyzing customer interactions and datathroughout the lifecycle of a customer with the objective of helping in improving sales growth, customer retention and customer service relationships. Customer relationship management can

Marketing 3also be explained as a process with the help of which all the aspects of customer identification, creation of customer knowledge, structuring customer relationships and influencing their viewpoints of the business and its products (Peelen, 2008). Market OrientationMarket orientation can be defined as the philosophy adopted by a company which focuses on the discovery and meeting of the needs and wants of its customers with the help of a product mix. In other words, market orientation is a corporate business philosophy that puts the satisfaction of the customers at the priority, taking into consideration the importance of other market factors (Lambin, 2013). For example, market orientation of a car company would require research regarding the needs and wants of the customers in a car instead of followings the trends adopted by other manufacturers. This in turn will assist in improving sales and relationship with customers. Customer CentricThe term customer centricity can be defined as a strategy with the help of which the developmentand distribution of the goods and services of a company is aligned with the current and future requirements of a selected set of consumers with the view to maximize their long-term financial value to the firm (Fader, 2012). In other words, customer centric is an approach adopted by the businesses for the purpose of focusing on the creation of positive experience for the clients. For example, McDonald’s responded to the changes in customer tastes by serving only chicken that are not raised up with antibiotics. In this way, the analyses of the customer data and interactions resulted in customer retention thereby improving the relationship with customers.Customer Relationship Management (CRM) TechniquesRange of CRM techniquesA variety of CRM techniques can be adopted by organizations. Some of them are explained below:Building up a comprehensive viewing of “customer journey” map- Gathering of data related to a customer assists in formulating the marketing strategy of the company with regard to customer

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