Marketing Fundamentals and Data Analysis

The assignment provides a comprehensive overview of marketing fundamentals, including customer satisfaction, product innovation, and market expansion. It also delves into digital marketing strategies, such as collecting feedbacks and reviews from customers to improve products and services. The document highlights the importance of data analysis in making informed decisions and achieving business goals.

MARKETING
FUNDAMENTALS

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1A.........................................................................................................................................1
Blog 1. Digital marketing............................................................................................................1
Blog 2 Marketing automation.....................................................................................................2
Blog 3 Relationship building.......................................................................................................3
Blog 4 Content marketing............................................................................................................4
Blog 5 Direct marketing..............................................................................................................4
Blog 6 Data analyse.....................................................................................................................5
CONCLUSION................................................................................................................................7
REFRENCES...................................................................................................................................8

INTRODUCTION
Marketing is a process of promoting the products and services for increase in the selling.
Marketing fundamentals are the basic concepts which are the related to enhance the marketing
process for increasing sales(Rogers and Davidson, 2015). To understand in detail about
marketing fundamentals as well as different marketing blogs, Estee lauder company is selected.
It is a multinational company that deals in different skin care and hair care products. It's
headquarter is at New York USA.
The project report consists the detailed information about different blogs of company's
projects. The objective of this is to creating and maintaining the awareness about the project and
increasing the communication with the clients.
TASK 1A.
Blog 1. Digital marketing.
Digital marketing is a wide term and it consists a variety of different electronic medium
of communicating the customers(.Niedomysl and Jonasson, 2012). It includes all the digital ways
of communicating with the public. This marketing system is based on the use of internet in the
communication. It is less costly as well as less time consuming. If companies adopts it
effectively then no one can beat them in the competitive environment. One important part that
need to be discussed that if digital marketing aligns with the different marketing theories then it
can be a strong strategic plan for the organisations. For example if marketing theory of Ansoff
matrix gets link up with a digital way of communication then it can be an effective. This is why
because if different part of Ansoff matrix like penetration, segmentation etc. are done with the
electronic marketing system then this theory will implement more significantly. Estee lauder is a
kind of company which is not only work of their profit, it works for the satisfaction of the
customers. Company is leading in the field of beauty and skin care products. Beauty products
and hair products are the products that are used by the customers on a regular basis, its uses can't
be prevent. Herein, it is to be noticed that companies can't stop updating these commodities. In
the absence of this they can lose the competitive advantage. The business area of company is too
wide and due to this it is not easy to communicate with all the clients and informing them for
new products. In this situation digital marketing can be the best fit approach. With the use of this
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communication channel the product details can be shared across the borders. Though Estee
lauder is using this marketing way and they are getting required results. Due to digital marketing
company can able to get the feedback of customers on different types of products and services.
This feedback can help in designing the pattern of demanded products as well as can increase the
satisfaction level of the customers. Apart from these features of digital marketing, it can guide
the business in a right direction and it is a best way of communicating with the customers. This is
an important term because in the absence of this a company can lose its set customers as well as
selling of products and services.
Blog 2 Marketing automation.
Marketing automation is a kind of methodology that offers companies a basis for keep in
touch with the target customers(.Hennig-Thurau and Hansen, 2013). This involves interacting
with the clients with the help of digital media like email, text messages, feedback forms etc.
Basically, marketing automation is a segment of the customer relationship management. Main
objective of this is to prevent from the repetitive tasks to bring efficiency in the marketing. It is
quite complex to make relation with the all customers of different country and area, due to
automation it becomes easy in keeping an extra sight of eye on the target customers. In addition,
the traditional way of communicating with the customers like printed advertisements, mouth
publicity, direct marketing etc. are too much expensive and time consuming. Eventually,
marketing automation can be combine with the suitable marketing theory. This combination can
build strong relationship with the target customers. Estee lauder has the customers at the
international level, and they offers their products on the online too. In this situation, this
marketing automation can help them in making conversation with the customers all around the
world. This is considered as the software which can manage the marketing elements and can do
online data analysis on the basis of available information about customers need and demand. In
broad sense, marketing automation includes a platform of communication with the use of short
message services, chat box and email servicing. With the effective use of this, B2B (Business to
business) can take the advantage of keeping the marketing material current and to deliver on the
demand of customers. Except from these industries, B2C( Business to customer) can make
interaction with their selected customers as well as informing the customers when there is any
flash sale of the products or any other offer. Due to this more and more customers can increase
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and existing customers can remain loyal for the customers. As well as it can help in making
psychological attachment with the customers because due to automation customers will think
that company cares for them. Estee lauder use mails to their customers whenever there is any
direct sell of their beauty and hair products. One important thing that need to know about
marketing automation is that it is suitable in those companies who operates their marketing
operations on the basis of survey, email, social media etc.
Blog 3 Relationship building.
Relationship building is a way of building strong interaction with the clients and target
customers(Mitra, 2016). It is very crucial in the context of the increasing the customers. Building
a relationship with the new customers is not an easy task, it requires more effort. To create a
relationship with the target customers, companies are needed to be work according to the
procedures. First of all main objective of establishing the relationship should be clear, then
communicate that objective with the others and make the plan accordingly. If relationship is
strong among clients and customers then customers will be loyal towards the company and will
give first priority to the company. It is necessary for making strong relationship, that there should
be an open way of communication between the parties and as well as clients needed to be given a
platform where they can put their grievances. Estee lauder is a leading company in the beauty
and hair products, to get increased sell they use this tool for making strong relationship with their
various clients. In addition, this is not only useful for making interaction between customers and
company but also it plays an important role in business to business relation. Relationship
building is categorised into different parts like social, partner, customer, sales relationship etc.
Herein, the all relation requires communication because in the absence of this existence of
interaction is impossible. Generally, people thinks about the relationship building in the context
of customer and company but it is not limited till this. As well as communication is also not
sufficient for the relations it needs many efforts. Like a company wants to make interaction with
new customers then one time communication is not sufficient. For this they need continue
interaction and feedback with the customers. Companies should try to make feel the clients that
they are part of their team. In the aspect of organisations and businesses, there should be proper
ethics of behaving with the all outsiders and insiders. This is required because in the absence of
this strong link can't be generate within the company. Apart form this, Estee lauder can use the
past data of their customers transaction for re- communicate with them. This will put a
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significant impact on the past clients and they will feel an emotional attachment with the
company.
Blog 4 Content marketing.
Content marketing is a kind of marketing that offers various kind of information about
the company's products and services in the form of videos, catalogue, social media posts etc. It is
an effective way of promoting the company's products and services at the lower cost. As well as
it is an strategic marketing approach to aware the consumers about any changes in the design of
products and services. Main three key reasons for adopting the content marketing, are helps in
increasing sales, lower cost and better customer who can become loyal in future. Marketing is
impossible in the absence of content marketing because it indirectly promotes the products of
companies and create the goodwill. Eventually,content marketing can be done online and offline.
Online includes various posts about company's new launched products with the help of social
media. Offline content marketing consists blogs, prospectus etc. Online content marketing is
quite easy and useful in compare to offline because it consumes less time and cost. With the use
of this kind of marketing company can communicate with their clients, this is possible because if
customers read about the new content of any product then they can suggest to the company for
any changes. The Estee lauder company use this tool for making aware the customers about
newly launched product and services. This can save the time and cost of the company. As well as
they are engaged in the beauty and hair products so it is needed for them to share more and more
details for their different products. In addition, this marketing tool increase the goodwill of
company's products automatically but it is important that it should be done in a specific way. The
description of products should be attractive. Otherwise in the absence of attractiveness, it will not
help the company. Now these days, this is being used by various companies with a common
purpose of communicating about the products and services. Mostly companies use this in the
online way because it is more helpful in compare to offline. Apart from this, content marketing
offers a huge platform of communication between the customers and company. With the help of
this companies can know about the demanded products by the clients and can make the suitable
changes in the design pattern of the products.
Blog 5 Direct marketing.
Direct marketing is a form of marketing in which companies promotes their product and
service with the help of different mediums like text messaging, email, voice call etc.(Berry,
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2016). This is an effective way to do the marketing of products and services. In addition,
company can know about the customers reactions about the products. In this type of marketing
seller directly interacts with the clients and can know about their ideas and opinions. This
marketing is done mostly with the help of mouth publicity in which both parties seller and buyer
communicate with each other. This communication is very crucial in the context of organisations
because it provides the idea and opinion of customers towards the offered product. Estee lauder
company sells their products in many ways like online, offline and more others but offline way
of marketing is best for communication. Though this is an expensive method but it opens a way
of link between seller and buyer. Basically, this type of marketing is linked up in building a
strong customer relationship as well as increase the sell. Herein, one important aspect of this
marketing is that it is quite expensive in compare to the other way of marketing. This is why
because it requires a lot of manpower and time, it all result in the higher cost. In addition,
companies prefer mostly online marketing because of its features but they can prevent
themselves from using the offline marketing, due to its unique advantages. Though in
comparability, online marketing is far away from direct but in the context of communication
direct marketing is better then online marketing.
Blog 6 Data analyse.
It is a type of marketing where data related to potential customers is stored by
organisation in a proper manner and later on these data are critically analysed to see the buying
pattern, behaviour of that particular client. In order to do this companies need to start building
their clients rich profile to understand and analyse client's needs, buying patten, behaviours and
different ways in which a client interacts. To make it working better and exact data is required to
personalise clients journey and by delivering relevant examples based on the details which it
have about their clients. Better data gives advantage to companies to easily trace a trend of
clients, it is also necessary for a companies to mange and organise their in a better manner. If
data is arranged by companies in a better manner it will help to easily access that data when ever
they required by keeping orders in a proper manner it is easy for companies also to get the data if
they require it urgent. Estee Lauder is a company which focuses only on to manage these
important critical data in a better manner it only store data which is relevant for them and can
bring in sales for it. In Estee lauder main focus is not on profit they give more value to their
customer satisfaction part in which they just try to achieve its customers satisfaction with these
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better data this company is able to focus on its customers satisfaction by analysing buying
behaviour of its customers keeping them in priority. The better data help Estee Lauder to keep on
innovating their products as per the need of their customer, these need are derived from the
feedbacks which they take from their customers and convert this data after a proper analysis of
customer wants. With the help new and modern marketing techniques like digital marketing,
company take advantages from these various techniques by collecting feedbacks and reviews
from their customers and process this information in important data which is analysed by its
team to find out new ways by which Estee Lauder's product can achieve higher perceived value
and can satisfy their customer. These data does not only company to bring innovation in its
products but also to capture new market and also expand its business operations to attract new
customers. While working with a client on an international level data is the things which a
company have and at that time it is very important for Estee Lauder to store and organise its data
in a proper manner. In beauty products data plays an important role to innovate their product, in
beauty products feedbacks are most important as it gives a report of their product which
company later on analyse it and take necessary decisions.
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CONCLUSION
From above project report it has been concluded that marketing is very important for
increasing in the selling. As well as marketing fundamentals plays a crucial role in developing
the new marketing plans. In addition, it is concluded that different kind of blogs like digital
marketing, marketing automation, content marketing, direct marketing, relationship building are
important in making communication with the target clients. All these blogs have some significant
importance for enhancing and stimulating the customers towards companies products and
services.
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REFRENCES
Books and journals:
Rogers, T. and Davidson, R., 2015.Marketing destinations and venues for conferences,
conventions and business events. Routledge.
Niedomysl, T. and Jonasson, M., 2012. Towards a theory of place marketing.Journal of Place
Management and Development. 5(3). pp.223-230.
Hennig-Thurau, T. and Hansen, U. eds., 2013.Relationship marketing: Gaining competitive
advantage through customer satisfaction and customer retention. Springer Science &
Business Media.
Mitra, A., 2016.Fundamentals of quality control and improvement. John Wiley & Sons.
Berry, L. L., 2016. Revisiting “big ideas in services marketing” 30 years later.Journal of Services
Marketing. 30(1). pp.3-6.
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