Marketing Report: Business Consultants Ltd CRM and Promotional Mix

This report, focusing on the principles and practices of marketing, analyzes the case of Business Consultants Ltd., a Hong Kong-based consulting firm. The report begins with an introduction to marketing principles, emphasizing customer satisfaction and promotional activities. Key terms such as Customer Relationship Management (CRM), market orientation, and customer-centric approaches are defined, setting the stage for an in-depth exploration of CRM techniques. The report outlines various CRM techniques, including tracking customer contacts and staff development, evaluating their effectiveness for Business Consultants Ltd. It then examines the promotional mix, defining key terms and assessing the current strategies employed by the firm, along with suggestions for improvement. The report concludes by summarizing the effectiveness of CRM techniques and promotional mix strategies for Business Consultants Ltd. The analysis underscores the importance of customer focus and the strategic application of marketing principles for business success.

Principles and
Practice of
Marketing

Table of Contents
1.0 INTRODUCTION ....................................................................................................................1
1.2 Background on Business Consultants Ltd.............................................................................1
2.0 Question 1-Key terms and definitions ......................................................................................1
2.1 What is customer relationship management ........................................................................1
2.2 What is Market Orientation?.................................................................................................2
2.3 What is customer centric?.....................................................................................................2
3.0 Question 1-Customer Relationship Management (CRM) techniques.......................................3
3.1 Range of CRM techniques....................................................................................................3
3.2 Range of CRM techniques for Business Consultants Ltd and its effectiveness...................5
3.2.1 State the CRM technique...................................................................................................5
3.2.2 State the CRM technique...................................................................................................5
4.0 Question 1- Recommendations to improve current CRM techniques.......................................6
5.0 Question 2- Promotional Mix techniques. ................................................................................6
5.1 Key terms and definition.......................................................................................................6
5.2 Promotional mix techniques used by Business Consultants Ltd...........................................7
5.3 Evaluation of the current promotional mix techniques used Business Consultants Ltd.......8
5.4 Suggestions of other promotional mix strategies which could be used Business
Consultants Ltd...........................................................................................................................8
6.0 CONCLUSION..........................................................................................................................9
REFERENCES..............................................................................................................................10

1.0 INTRODUCTION
Marketing process is an effective exchange relationship which creates value for the firm.
The marketing principles provide guidelines to the company to handle the customer satisfaction.
Marketing is the positive activity which is significant to ensure the promotional activities of the
firm. Present report is based on principles and practice of marketing. For that, Business
Consultants Ltd has been taken into consideration; it is the business consultant firm in Hong
Kong which helps the business organisation in terms of good marketing strategies. Furthermore,
in the present report, it will explain the customer relationship along with that it will also cover
the importance of the overall process such as marketing orientation, customer centric, apart from
that, customer relationship management techniques also consider in this project in which they
will define the promotional mix which help organisation to provide best services.
1.2 Background on Business Consultants Ltd.
Business Consultants Ltd. Is the consultant firm in Hong Kong which helps to motivate
the organisation and provide the best strategies and consultant advice to the business
organisation (Child, 2015). Apart from that, Business Consultants Ltd. It is a service Company
which is established in 2005, Hong Kong which services are Bookkeeping & Accounting,
corporate financial accounting. Current marketing strategies of the firm are to promote their
services on the behalf of customer choices and fulfil their requirements.
2.0 Question 1-Key terms and definitions
2.1 What is customer relationship management
Customer Relationship management (CRM) is a term which refers to customer services,
customer satisfaction, customer feedback and response. It is a set of technologies and strategies
used to manage and analyse the customer interaction and data throughout the customer life cycle.
In customer relationship management manager would take steps in order to meet the needs of
customers and full fill the objectives of the company (Coduto, 2015). It is the positive
relationship between the company and its customers. In this approach company adopts several
techniques and methods in order to attract the customer preference and good positive response.
In order to get the good market value it is the important for the company to adopt creative and
attractive customer techniques. The objective of the CRM is to understand the client needs and
wants, executing or delivering what the client is requesting, company also needs to determine the
future needs of clients. Delivering targeted communications with the customer good response.
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Customer relationship approach is the effective approach in order to get the good company
image in the market (Goworek and McGoldrick, 2015). This approach connect client directly
with the company to ensure the effective product outcomes. This whole process aiding company
towards the client satisfaction. It is the duty of customer relationship manager to adopt the latest
technologies and customer theory through which customers get good response from the market.
This helps to maintain the strong relationship with buyers and enhance the performance of the
company as well. Ultimately, CRM enhance the customer focus and get good experience with
them. For Example, Business consultant limited provides bookkeeping services to customer or
client in order to provide the best business solution (Hughes and Foley, 2014).
2.2 What is Market Orientation?
Market orientation is the direct approach to determine the client desire and needs of its
customers. Overall it makes the good response towards the company goodwill in front of the
customers. Market orientation is the customer approach in which company focus on the customer
requirements and provides best services to them. Moreover, market orientation is the process to
meet the demands of customers (Hughes and Foley, 2014). For that, manager organise various
marketing campaign to attract the clients to coordinate relationship with the customers. It is a
business philosophy that helps to focus on the hidden needs of customers. Along with that, it is
also known as customer centred approach which makes new design and services for the customer
satisfaction. In this process company research on the customers in market in order to measure
the actual needs and wants. In this process company will free to invest on the new product line to
invent new services for their customers. Market orientation provides for customer service, the
main objective of the market orientation is to retain the customers and attract the more new
potential customers for business consultant limited. This makes the new working and healthy
environment for the company overall it makes the new opportunities and ideas through which
company focus on the best needs of customers (Hyndman and Athanasopoulos, 2014). In order
to analyse the market, company also needs to measure the market trends, competitor’s price and
strategies. Besides this, market orientation may be not very much effective in terms of cost
effective to implement. For example, Business consultants Ltd solves the business problems of
an organisation in order to listen their needs and wants.
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2.3 What is customer centric?
Client centric is an approach to doing business on creating a positive relationship with the
client. Moreover, client centric means company focus on the customer issue and deal with that
issue till they cannot solved (Masa'deh and et.al., 2018). The main purpose of this client centric
is to gain the customer satisfaction. This is the process is called customer relationship
management. In this, company try to solve the issue of customers by listening the main issue.
Moreover, customer centric approach is considered in CRM, in which company serve the best
services from his box. For example, Business Consultant Ltd, provides guidelines to the
customer that on which funds they would like to invest so that they get better returns. This is
called customer service (Masa'deh and et.al., 2018). On the other side, client centric approach
provides the good experience to customers at the point of post-sale or pre sale. This customer
centric approach enhances the company value which makes company differ from other
companies in the market. Customer always prefers those consultant firms who provide the best
strategies and information even after completing the process (Customer Centric, 2018). For
example, Business Consultant Ltd provides extra benefits to the customers that, they can easily
contact to the company in case of any inconvenience even after completing the process. This
process helps to serve the direct service in order to full fill the needs of customers. This is called
customer service. CRM is the positive process of the company which helps to enhance the
company sale services or profit revenue. In this method manger finds the services which is
attractive and which is beneficial for the customers (Moin and et.al., 2017).
3.0 Question 1-Customer Relationship Management (CRM) techniques
3.1 Range of CRM techniques
CRM Technique Further explanation
Tracking Customer Contacts This is the first technique of CRM, which
tracking the customer details and information
about it in order to enhance the customer
service and customer focus in order to get the
best details of customers company can easily
find outs the contacts in order to deal with
them in better manner (CRM Techniques,
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2018). The outcomes of the contact details of
the customers. It gets help to company to serve
the better services to them. This helps to
identify the customer conflicts in order to
provide the best services. After that, company
makes calls to clients to support the services to
make interaction with the clients.
Staff Development Staff or employees also need to make aware
itself about new techniques or customer
relationship. In this way, they can serve
customers in better ways. It provides the best
services to the customers if they having skills
or knowledge to deal with the customers as
well. CRM techniques help to enhance the staff
development. This makes staff more skilled or
knowledgeable. Employing technical staff is
directly connect with the customers in order to
enhance the better services (Moriarty and et.al.,
2014). This makes the positive, personal
approach. This is the best technique to
enhancer the skills or performance of
employees. All the staff members who connect
with the customers directly need to take the
training of development and learn new skills to
serve the customer in better manner.
Define a customer experience strategy Customer experience strategy involves the
level of service which company expects to
provide to its customers. For example,
customer problem must be solving by the
particular person through which they deal with
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the all project (Oladepo and Abimbola, 2015).
This experience gives the better opportunity to
the service provider. Every customer policy
must be effectively communicated to all the
staff at all time. This process helps to enhance
the good experience with the customers.
Employees are need to be participate in the
activities to enhance the customer experience
strategies. It makes good impression on the
customers in context of company value (Pizzo
and Poplack, 2015).
Summary:
Overall, on the basis of above discussion, CRM techniques are very much effective and
profitable for Business Consultant Ltd. which gives better outcomes revenues to the company. It
is the best technique to solve the customer query.
3.2 Range of CRM techniques for Business Consultants Ltd and its effectiveness.
Business Consultant Ltd apply two CRM techniques in order to grab the customer
satisfaction, such as Staff development and tracking customer contact. With the help of staff
development they enhance the employees' performance through which they serve customer in
better ways (Masa'deh and et.al., 2018). It makes good impression on the customer service. With
the help of staff development techniques Business Consultants Ltd enhances the skills of
employees. This process gives the better services or good customer satisfaction. Besides,
Business Consultants Ltd adopts tracking customer contact. With the help of this technique,
Business Consultants Ltd can easily get connected with the customers in order to provide more
services to the regular customers. On the behalf of customer details, they make calls to customers
in order to take the conversation for further services.
3.2.1 State the CRM technique.
Staff development
Effectiveness
 It helps to enhance the employee and staff good experience with customer issues.
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 It also helps to identify the new customer strategies (Pizzo and Poplack, 2015).
Ineffectiveness
 May cost ineffective for company to implementing.
 Require large time to take the customer issue.
3.2.2 State the CRM technique.
Tracking customer details
Effectiveness
 Get direct connection with the customers in order to give the company new services
(Goworek and McGoldrick, 2015).
 This technique provides more source of income for the company annual sales revenue.
Ineffectiveness
 May enhance the customer conflicts.
 Misleading target and approaches.
4.0 Question 1- Recommendations to improve current CRM techniques.
According to the current techniques of CRM in Business Consultants Ltd, company may
serve their clients in an effective manner. Besides this, company also need to focus on the current
issues with companies (Pizzo and Poplack, 2015). So that, company take this customer issue in
effective manner. Besides on the basis of current market scenario or on the basis of competitors
strategies company needs to adopt the latest technologies and strategies in order to make the new
customer relationship strategies. Such as company needs to acquire market research in order to
determine the market trends and customer needs and wants. Behalf of the company needs to
make the effective changes in order to get the customer satisfaction approach. Overall, this is the
best way to adopt the new changes and make company strategies and plans accordingly.
Business Consultants Ltd also needs to adopt training and development programs of customer
service for staff members in order to provide new skills or methods to deal with the customers
and how to approach the customer issue. This method helps to enhance the staff development
technique. Along with that, to enhance the tracking customer details. Company needs to use
online platform in order to get the more information about the customer data. So that, they deal
with more large number of customers. This process is very much effective for Business
Consultants Ltd to serve better customer satisfaction service. Besides, in order to enhance the
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company image. They need to retain the exiting customers by providing pre or post customer
service (Salvo, 2015).
5.0 Question 2- Promotional Mix techniques.
5.1 Key terms and definition
Promotional mix techniques are the strategies in order to attract the customer attraction.
Promotional mix techniques are the combination of promotional methods used for enhancing the
sales of the company (Oladepo and Abimbola, 2015). Moreover, the main objective of the
organization is to increasing the sales of the product in order to enhance the company image.
Promotional mix techniques includes public relation, personal selling, sales promotion and
advertising. These techniques promote the services of the firm to enhance the sales of the
organisation. Apart from that, promotional mix techniques provides methods to focus on the
target market audience which gives great values to the customers. For example, Business
Consultants Ltd promote its services with the help of creative advertising which attracts the
customer attraction towards the company services. Or they take help of social platform to collect
the client contact details.
5.2 Promotional mix techniques used by Business Consultants Ltd.
Promotional mix Source Example
 Personal selling Door to Door, Trade show Organisation may adopt this
promotional technique in order
to introduce their services to
the customers for example,
Business Consultants Ltd may
approach customer directly at
trade show or through door to
door (Moriarty and et.al.,
2014).
 Advertisements Newspaper, TV etc. Business Consultants Ltd also
gives advertisement of services
with the help of TV,
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magazines, Newspaper.
 Direct marketing Direct Mail, Online campaign. Business Consultants Ltd
adopt direct marketing to
promote the services of the
company. Like they easily
send the related information of
the latest services through e-
mails. So that, customer get
connected and aware about the
services of Business
Consultants Ltd (Masa'deh and
et.al., 2018).
5.3 Evaluation of the current promotional mix techniques used Business Consultants Ltd.
Business Consultants Ltd adopts direct marketing techniques in order to get the attraction
of customers. On the basis of different organisation strategies company enhance the marketing
promotional activities in order to make customer aware about the company services. For that,
company needs to make creative and innovative promotional plans before adopting techniques.
Such as Business Consultants Ltd adopts direct marketing techniques this is very effective for the
company to adopt new business market. Company have the contact details or emails of
customers. Accordingly, they send the e-mail about the information of the company. For that
they need to make sure that e-mail content should be small enough to read and directly
approachable to customers (Moriarty and et.al., 2014). Besides, another strategy which company
adopts that is personal selling in which they deal with the customers on face to face process.
Moreover, this is the effective technique in terms of getting customer attraction. Moreover, this
technique has one pitfall in terms of getting negative effects such as, due to lack of
communication or written language customer does not understand the mail or information of the
company. So that, they give wrong communication which leads to confusion.
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5.4 Suggestions of other promotional mix strategies which could be used Business Consultants
Ltd.
Above the line and below the line is considered as the marketing activities. This used to
separate the marketing activities. Above the line means which had mass penetration. Besides,
those which had specific penetration it defines above the line. These activities have increased
due to heavy competition in the market (Child, 2015).
Above the line: above the line refers to the marketing strategies in which company only
promote the brand image rather than its product and services. Along with that, it includes mass
marketing strategies which is focused on the building brand image in the market. For example of
Above the line marketing strategies are radio, TV, Print Advertisements, the main effectiveness
of this marketing strategy is wider reach, better connect with audience, brand building,
Below the line: this is the another marketing activities which is below the line in which
company focus on the target group of customers. Their main aim is to focus on the selling the
services to the customers at any cost. In this process company focused on the direct marketing
strategies such as outdoor advertising, direct mail marketing, sponsorship, store marketing. The
main effectiveness of this strategy is to they extremely focused on the customer service, Better
rate of return, easy control etc (Masa'deh and et.al., 2018).
AIDA Attention, Interest, Desire, Action
It is the marketing activity which catches the attraction of reader. Company should adopt
this terminology before make any marketing strategy. Such as marketing activity or promotional
plan is first must be attractive through which customer give their attraction. On the other hand
promotional plan must be interested through which customer get interest to visit the company
website (Masa'deh and et.al., 2018). On the other side another, another aspect of this approach is
Desirable means' product and service of the company should according to the customer needs
and wants so that they easily get attract from the new services. Moreover, Business Consultant
Ltd must need to adopt this marketing terminology to grab the attention of customer. This also
helps to maintain the good customer relationship management. Overall, these are the other
promotional mix strategies for the company in order to enhance the profit revenue.
6.0 CONCLUSION
From the basis of above discussion, it can be concluded that Customer relationship
management is the signifiant process in the organisation. Company must be focus on the
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customer relation in order to attract the customer focus towards the company organisation.
Besides, present report based on the Customer relationship management in Business Consultants
Ltd. Likewise, it described the techniques of CRM. Which is effective for the company in terms
of introduce the technique in order to get the best customer response. Further, it explained about
the techniques of promotional mix which helps company to spread the information about new
services. Moreover, furthermore it explained about the AIDA techniques in order to achieve the
best techniques. Overall, it can be concluded that customer is the very significant factor which
influence the company activities. In order to beat the competitors strategies company needs to
acquire best market research and take new action and development plans. Furthermore, it will
focus on the services of customers.
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REFERENCES
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Education.
Hyndman, R. J. and Athanasopoulos, G., 2014. Forecasting: principles and practice. Otexts.
Masa'deh, R. E. and et.al., 2018. The effect of promotional mix on hotel performance during the
political crisis in the Middle East. Journal of Hospitality and Tourism Technology. (just-
accepted). pp.00-00.
Moin, S. and et.al., 2017. Impact of promotional mix on customer based braned equity:
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Multidiscip. Res. 4(11). pp.18-27.
Moriarty, S. M. and et.al., 2014. Advertising: Principles and practice. Pearson Australia.
Oladepo, O. I. and Abimbola, O. S., 2015. The influence of brand image and promotional mix on
consumer buying decision-a study of beverage consumers in Lagos State, Nigeria. British
journal of marketing studies. 3(4). pp.97-109.
Pizzo, P. A. and Poplack, D. G., 2015. Principles and practice of pediatric oncology. Lippincott
Williams & Wilkins.
Salvo, S. G., 2015. Massage Therapy-E-Book: Principles and Practice. Elsevier Health
Sciences.
Stallings, W., 2016. Cryptography and network security: Principles and practice. Pearson.
Stuart, G. W., 2014. Principles and Practice of Psychiatric Nursing-E-Book. Elsevier Health
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Online References
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CRM Techniques, 2018. [Online]. Available through: <https://bizfluent.com/list-6469909-crm-
techniques.html>.
Above the line and below the line, 2017. [Online]. Available through:
<https://www.feedough.com/atl-btl-ttl-marketing/>.
Customer Centric, 2018. [Online]. Available through:
<http://www.businessdictionary.com/definition/customer-centric.html>.
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