Marketing strategy for managers Essay Example | Topics and Well Written Essays - 1250 words

Marketing strategy for managers - Essay Example Based on these factors a manager can decide how much to spend on advertisements, what values to promote and what kind of media to select for display of advertisements. Direct marketing which means non-existence of intermediaries between the manufacturer and the customer is another effective way of communicating value with the customers. Analyzing consumer markets Only by a thorough understanding of consumers can enable companies to ensure that â€Å"right products are marketed to the right consumers in the right way† (Kotler & Keller, 2012, p.151). The cultural and social background of consumers affects their buying patterns. The marketing manager needs to study the four major psychological processes like â€Å"motivation, perception, learning and memory† (Kotler & Keller, 2012, p.160) as these affect the behaviour of the consumers towards the market. Building strong brands A strong brand can be created by â€Å"careful planning and a deep long term commitment† ( Kotler & Keller, 2012, p.241). I feel a branded product or service creates a certain amount of trust among the consumers and in the modern day fast life brands enable consumers to easily identify a product thereby simplifying their decision making process. Brands can become successful only if consumers can get satisfaction from â€Å"past experiences with the product† (Kotler & Keller, 2012, p.242). This can happen only if a branded product can satisfy the needs of consumers and it maintains consistency with the messages provided through advertisements. I believe it is the job of the marketing manager to assess the likes and dislikes of the consumers regarding the brand and accordingly make improvements on the branded products or services. In... The essay demonstrates that the ability of a firm in establishing a profitable customer base and relationship highly depends upon the marketing manager. The contribution of the marketing manager in the success of the business in due course of time enhances the personal perspectives as well. Development of the buyer-seller relationship enhances dynamically and this takes place through the generation of linkages and relationships with entities of the external marketplace especially between the channels and that of the end users. Strategy enhancement is another dimension that develops as a personal perspective. The lifetime value of a customer can be said to be a driver that helps in the determination of the quantity of resources that a firm generally invests in a particular relationship. The mangers with their developed strategies attract the potential customers and maximize their investment in valuable resources along with the minimization in the non valuable investments. Individual c apabilities develop with time and the representation focuses towards a hardcore customer centric approach leading to the optimal fulfillment of their demands. The development of knowledge and that of the management of interaction is a kind of technology development and can be regarded as a key resource for the establishment of a long term and profitable customer relationship. A perfect blend of sales, marketing and that of service information system will act as a key variable in the development of robust paratnership with the customers.