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The Principles and Practice of Marketing

   

Added on  2021-04-21

18 Pages4161 Words28 Views
Running head: PRINCIPLES AND PRACTICES OF MARKETINGPrinciples and practice of marketingName of the studentName of the universityAuthor Note:

2PRINCIPLES AND PRACTICES OF MARKETINGTable of ContentsExecutive Summary.........................................................................................................................3Introduction......................................................................................................................................4Background and Marketing Strategy...............................................................................................4Market Orientation...........................................................................................................................6Range of CRM Techniques.............................................................................................................6Use of CRM Techniques in the Company.......................................................................................7Effectiveness of the Technique........................................................................................................87 P’s of Marketing...........................................................................................................................9Current Promotional Mix...............................................................................................................11Promotional Mix Strategy to be used in the future........................................................................13AIDA Marketing Technique..........................................................................................................14Recommendations..........................................................................................................................15Conclusion.....................................................................................................................................16References......................................................................................................................................17

3PRINCIPLES AND PRACTICES OF MARKETINGExecutive SummaryThe following report is based on the use of CRM technologies as well as the properimplementation of the different marketing mix strategies for a consultancy firm in the market.The report has aimed to address the promotional strategies of a business organization and theones that are used by the following business to address the marketing challenges of the firm. Thereport has also identified the usage of social media by the organization and the implementationof the AIDA strategy by the management of A business consultants Ltd. It ends with a briefconclusion as well a short recommendation that addresses the shortfall and mentions theirsolutions.

4PRINCIPLES AND PRACTICES OF MARKETINGIntroduction A proper relationship between a customer and an organization is utmost important tocreate a high level of customer satisfaction. Most of the business organizations concentrate onenhancing the relationship between the customers and the people who run the business. TheCustomer Relationship Management or the CRM system has the power to incorporate all thenecessary items that needs to be done to satisfy the customers of the business as well as create acompetitive advantage for the business that helps them to beat their rivals in attracting more andmore customers (Tsou and Hsu 2017). CRM in the modern era is the best possible way toachieve success as it differentiates the best with the better ones. It not only helps the organizationto attract customers and make them to retain the profitable customers.Background and Marketing Strategy Business consultants are the ones who advise the other business houses on strategy,problem solving and planning the business of the clients in the appropriate manner to help themgain a commendable market share. A Business Consultants Ltd. has been in the business formore than 10 years from now and is a reputable name in the market. It operates a number ofoffices in the central business district of London and has a number of well known clients underits fold. The marketing strategy of the following business organization is no different from thatof any other companies. The marketing plan of the business helps to identify and meet the needsof the customers (Navimipour and Soltani 2016). The marketing department of the mentionedorganization considers the perspective of how the client chooses the company and formulates themarketing plan accordingly. The foremost thing that is performed by the following department is

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