Marketing Strategy and Its Effect to Consumer Behaviors
Marketing is indisputably one of the most important aspects of any successful business. It forms the basis for productivity, profitability, product branding, identification of the target market for a certain product, creation of awareness on a certain product brand that either has been newly introduced into the market, or, has been in existence in that particular market for some time, and many more factors that are relevant for successful businesses. It is a fact beyond reasonable doubts that the marketing strategies, and their implementation procedures, which would ensure the adherence to the business plans to the latter, is the backbone of any business enterprise regardless of its size, financial position, or the period it has been in the market (Wicker, 1969).
Furthermore, good marketing system, which usually comprises of professional marketing personnel, is paramount for the general success of the company in question. It plays a major role in attracting more customers to their products, retaining the already existing customers, and on the worst part of it scaring off customers from the products of the company. This implies that all executives of companies in conjunction with the competent marketing team have to work out, and then implement the very best marketing strategies that would work for the good of the company (Zinkhan, 1992).
As a result, this report would do much in analyzing the effectiveness of marketing strategies, its significance to the company, and most importantly, how it influences the decision-making process of customers with regards to products and services offered by a given company, organization, or business enterprise.
Marketing strategy refers to a well-defined plan and procedures, which a specific company has put in place with a primary intention of increasing its production and profitability through increased sales of their services and products. It forms the foundation on which the goals of the company are built, as business is entirely the process of buying or producing goods and services, and then selling them at a profit. Apparently, it is a given that good marketing techniques, employed at the right time, on the right products, and to the right target market; would definitely lead to high sales and increased customer base, which eventually translates to high profit levels of the company. It as well gives the business an added advantage against their competitors. This is because, good marketing strategies does much to convince more potential customers to purchase certain products over others (Skinner, 1953).
Effective marketing strategies involve such factors as identification of appropriate products and services that would be marketable in that particular market, and the appropriate choice of location of the business. Moreover, it includes the setting up of reasonable prices of the products and services being offered (it should not be too high to scare the customers, or, too low to create losses to the company), and good promotional systems such as celebrity branding and issuance of offers and discounts to the products and services. These strategies have proven vital for increased productivity of the company due to constant expansion of the market (Skinner,1969).
Therefore, it follows unconditionally that effective marketing plans should include a comprehensive and professional analysis of the market, customer, and competitor information. A good marketing strategy goes a long way to positively, influence the perception of customers and the entire society towards a given business, and this consequently has a positive impact on their decisions concerning the company and its operations (Schiffman & Kanuk, 2007).
Marketing Strategy and Its Effect to Consumer Behaviors
Marketing is an important arm of any business enterprise, and aims primarily at reaching out to customers at the right time, and with the right products in order to influence their decisions on the kind of products they desire to have. All companies have an obligation to develop perfect marketing strategies on the verge to counter their competitors, enhance familiarity of their products and services among their customers, create awareness to the public on their new ventures and offers, and convince their target markets on why they need to purchase their products and services over other businesses that offer similar products (O’Shaughnessy, 2002). A company or organization with good products and services that are of good prices, and does not have effective marketing strategy is bound to experience lower sales. This is because, many of the customers may not be aware of their operations, the quality of products they offer, and their prices; hence, would have nothing to convince them to purchase from such a company. Based on that, it follows unconditionally that every single company needs to employ a competent marketing team that would work to ensure that all potential customers in their target markets are aware of what they offer, its quality, and the prices of their products and services (Oliveira–Castro, et al, 2006).
There are numerous techniques that companies should embrace on the verge to enhance their competency in the market. One of the most appropriate strategies is the use of celebrity branding.
Celebrity branding is the use of famous dignitaries in the society, usually the media personalities, great musicians, outstanding sportspersons such as athletes and footballers, and political leaders to advertise certain products offered by a given firm. (O’Shaughnessy, 1992) Many people wants to associate themselves with prominent personalities in the society, and the fact that such people are associated with certain products locally available in their environment, goes several miles convincing them to use them too. Furthermore, such people serve as role models to millions of people unknowingly. It is natural that everyone would want to emulate his or her role model in many ways hoping to be like them at some point in their lives. This is one of the reasons to why celebrity branding would attract more customers to certain products produced and distributed by given companies (Oliveira – Castro, et al, 2005).
For instance, Zenadene Zedan, a legendary football personality, was used to brand the Adidas Company. Adidas Company produces professional sporting facilities among them footballs, basketballs, rackets, playing jerseys, and many others. Because this branding, which associated the then best footballer in the world, many teams were attracted to purchase their sporting kits from the company. They assumed that because the best football player in the world is using products from this company, they must be of the best quality, and that may subsequently lead them to greatness just as it did to their role model, Zedane (Oliveira – Castro, 2003)…