November 26, 2021

EMERGING TRENDS AND ISSUES IN  MARKETING Use of advanced technolog1y-computers;ict advancement Emergence of customer care services department to handle financial matters only. Tele marketing. Globalization-this is a process whereby different systems and parts of a related trade, function as a closely-knit system at the international level. Communication and transport have vastly improved and affects many aspects of marketing from competition policy to monetary policy and agricultural policy. Mergers and joint ventures of institutions so as to increase the institutions capital base. HIV aids and drug abuse menace. Pollution Corruption . Tight budget and allocating, spending and measuring of ROI is a running battle in marketing departments. Social media grow up. Games-marketers already have been adding games to their sites and doing product placement deals with sites and doing product placement deals with sites and using games to more customers along the decision making path they are shaping their websites with questions, tasks and rewards designed to keep customers engaged with all kinds of brands, from insurance to cars. Bar codes-recent adoption including snap tags including brand logo with most of smart phones now capable of scanning the codes, and advertisers are using them to link in store shoppers to manufacturers website or connect to a nearest store. Tv talks-interactive tv advertising by use of satellite and cable companies fitted with set-top boxes. Digital wallet-electronic payment and couponing systems with electronic payment systems coming up e.g. mpesa,airtel money and equitel. Intrapreneurialism grows-being highly agile and flexible. Metrics mature-this is the ability to measure every click ,tweet and page view and is both a blessing and a curse and is used to gage a companys performance. Emergence of consumerism movements-this is an organized movement of citizens and government agencies to improve the rights and power of buyers in relation to sellers Emergence of environmentalism movement-this is an organized movement of concerned citizens and government agencies to protect and improve peoples current and future living environment. Cloud computing. Adoption of new marketing strategies e.g. e-marketing to search for more customers. Competitors coming up with new improved product. New government polices i.e. media bill. Emergence of fraudsters producing counter fake products. Changing customer basis and needs. Emergence of new product life cycle stages ie fads ,fashions and style products. CHALLENGES POSED BY THIS TRENDS. Some trends and issues require more resources inorder to meet the new trends and issues e.g. more funding. Government policy which might really affect the new trend/issue. New/more competitors coming into market. Changing market needs and wants. Coverage of wide market area-due to globalization aspect. Changing the approach to get more customers or maintain the existing ones. WAYS OF COPING UP WITH CHALLENGES. Adopting new marketing strategies. Employing more resources in marketing teams. Coming up with legal measure to deal with fraudsters. Reaching a wide market to stay relevant. Coming up with model or design that would move customers.

SERVICE MARKETING Service refers to any act/performance that one party offers to another that is essentially intangible and does not result in the ownership of anything. SPECIAL CHARACTERISTICS OF SERVICES. Intangibility-services can not be seen, tasted, felt, heard or smelt. Inseparability-services are produced and consumed simultaneously. Heterogeneity(heterogeneous)-services are variable since they depend on the provider. Perishability-services can not be stored e.g. medical care. Ownership-services do not result in ownership of anything.   CHARACTERISTICS OF GOOD SERVICE QUALITY. Should have support services ie it should augment the actual product. Should be well labelled. Should be well packaged. Should have a brand that identifies it with the maker. SERVICE CONCEPT. This  is based on the idea that actual service offering can be broken down into a number of levels relating to customer need satisfaction, benefits and features. Three levels can be identified. Core benefit service-This relates specifically to the customers needs. The core benefit satisfies the need or solves the problem. Expected service-this relates to customers’ expectations of what kinds of services are available to satisfy their need. The expected service reflects standards required or expected by customers to satisfy their needs.eg in a bank one expects that polite language is used,professional knowledge is applied by the staff etc. Augmented service-this means making the service better in some way and it is the means by which service providers differentiate their offering in an attempt to influence customer choice. Extra features over and above the expected service can be added to make the service more attractive to prospective customers. Innovation is the key to make a service stand out from the competition.eg in the banking sector,we have the corporate section where we have corporate customers who are usually served differently according to class. ELEMENTS OF THE SERVICE MIX Service-this involves superior quality, a well known and trusted brand image, unique features and extended guarantees. Price-involves added value, special discounts and preferential credit terms(free for a new customer brought). Promotion-this involves innovative advertising campaigns, loyalty promotions(points) added, special offer, public relations e.g. sponsorship e.g K.CB in terms of safari rally, safaricom, equity etc. Place-This involves extensive availability(in many parts g. equity bank),innovative methods e.g. telephone banking, agents and careful selection of quality channels(mpesa). People-This involves highly trained staff, better customer care, greater efficiency, personal attention and specialized skills. Process-This involves advanced technology e.g. for counting money, efficiency systems e.g. introduction of ATMs to avoid queing in banks and fast response Physical evidence-This involves comfortable surrounding, superior décor(decoration) e.g. for wedding organizers they gather in hotels, schools, banks. Qualifications and evidence of professional standing(e.g. certificates being placed on walls) and a strong recognizable corporate image(similar uniform) and supporting documentation.   WAYS OF DEVELOPING BRAND STRATEGIES FOR SERVICES. Line extension(existing brand, existing service category)-this is using a successful brand name to introduce additional items in a given service category under the same brand name such as new flavours, forms, colours, added ingredients as well as different packaging sizes in respect to a product. Brand extension(existing brand, new service category)-using a successful brand name to launch a new service in a new category. Multibrands-(new brand, existing product category) ie offering new band in same category. New brands-(new brand, new service category) may be appropriate if none of the existing brands is appropriate for a new service entering new market. Mega brand strategies-this focuses on marketing dollars only in brand that can achieve number one or number two market share in their categories.    PRODUCT SUPPORT SERVICES MANAGEMENT. Training the current employees/hiring new ones. Increasing the quantity of service by giving up some quality. Industrialise the service by adding equipment and standardized production. Harnessing technology ie data mining, cloud computing etc.

CUSTOMER CARE This refers to activity of  looking after customers and  helping them with complaints and problems. It involves provision of service before and after purchase. Customer care is also a third party provider that takes customers calls, answers their questions, address their concerns, and solves their problems etc, and submits detailed reports on such activities to the principal(client). It involves putting systems in place to maximize your customer’s satisfaction with your business. THREE AREAS/ELEMENTS IN CUSTOMER CARE. Expand your definition of services-how you define services shapes every interaction you have with your customers services should provide customers with satisfaction in essence the customers should walk  away pleased at the result of transaction and not just content but actually happy a happy customer will continue to be a buying customer and a returning customer. Who are your customers-customers, buyers and clients want to pay a fair price for quality service or product and feel satisfied they have paid for services or product and receive what they have paid for in return.it is important to listen to customers and do research, their habit and what they want and expect. Developing a customer friendly approach-by customer friendly, we mean viewing customer as most important part of your job. SOURCES OF FREE CUSTOMER INFORMATION. Business contacts Local business reference libraries. Your local authority; business link/chamber of commerce. Internet. Uk trade for information on export markets. Forex ie N.S.E. CUSTOMER SERVICE QUALITIES Customer service accountability delivery. Professionals who constantly deal with customers inside or outside the company need to strive for certain qualities to help them answer customer needs the professional qualities to be emphasized always  relates to customer wants. BASIC PROFESSIONAL CUSTOMER SERVICE QUALITIES. Friendliness-associated with courtesy and Empathy-appreciate customers wants and circumstances. Fairness-customers want to feel and receive adequate attention and reasonable answers. GREETING THE CUSTOMER. The purpose is to create and maintain a welcoming environment and we can achieve this by; Looking good-be well groomed. Smiling Eye contact directly to the customers eyes Shaking hands-professional hand shake is expected. Being attentive-slightly lean towards the customer and nod always to indicate you are listening. ASPECTS OF CUSTOMER SERVICE. Attitude and appearance-a customer service representative must be congenial, presentable and approachable e.g. when communicating on phone they should be pleasant and an understandable voice be used. The concern of the customer is the top priority and the representative can not allow his/her mood or other internal issues destruct his/her from this priority. Convenience ie easy to approach. Follow up-this can be done by sending an email or by calling or even visiting the customer. Communication-e.g. if you are doing repairs on someone scar, calling the customer and updating him on progress or sending an email to keep him upraised of the situation cold be a very smart way to proceed. SOURCES OF CUSTOMER COMPLAINS. Defect cost by production or service failure and employee mistakes. Marketing over promises Misleading marketing Customer errors and unreasonable expenses. Customer is incorrect but makes a reasonable mistake. Dissatisfaction on use of product and its effects. Poor customer services-rudeness. Discrimination in serving customers Customer exploitation in terms of prices, quality and quantity. Long time spent in responding to their urgent problems. Media-mainly social media. Phone calls by customers Mails sent by customers Internal employees. Analyzing the order history patterns Direct feedbacks. WAYS TO REDUCE CUSTOMER BASED PROBLEMS. Effective labeling/giving clearing directions Pro-active education-this is a cost effective way to resolve common customer problem e.g. Vodafone pro actively calls customers three weeks after cell phone activation. Easily accessible customer assistance. HANDLING CUSTOMER COMPLAINS. There will always be customers who complain after completing the sale. Like customer objections, don’t view complains negatively rather they are often a very  good way to; Obtain valuable customer feedback on products. Assess  customer attitudes to company policies. Address customer needs that were not previously identified.

DIRECT MARKETING This are direct communications with carefully  targeted individual consumers to obtain an immediate response and cultivate lasting customer relationships the new direct marketing models include: advances in direct marketing include emergence of catalog companies, direct mailers and telemarketers. BENEFITS  AND GROWTH OF DIRECT MARKETING. BENEFITS TO BUYERS; Easier to know the current models in the market as per ones needs Convenient Wealth of comparative information is allowed. Interaction and immediate feedback is possible Privacy is enhanced. Enhances greater product access and selection. BENEFITS TO SELLERS; It is a tool for customer relationship buildings ,better targeting and customerization. It can be timed to reach prospects at just right moment. Higher readership and response is enhanced. There are numerous internet and online benefits which one enjoys ranging from, Reduce costs and increased speed and efficiency. Avoids expenses of rent, insurance utilities(owning a store). Improve efficiency of channel and logistic functions. Costs less than communicating on paper through the mail Greater flexibility is enhanced in terms of production quotas and the needs of customers. It is usually a global medium-ie across all nations. CUSTOMER DATABASE AND DIRECT MARKETING Customer database-this is  an organized collection of comprehensive data about individual customers or prospects including geographic, demographic, psychographic and behavioural data. Database marketing-this is the process of building and maintaining customers data for the purpose of contacting and transacting with the customers.it is commonly used in  B2B  and service retailing(hotels, banks and airlines). It makes use of a customers mailing list – a set of names, addresses, telephone numbers etc and customer database-contains much more information e.g. past purchases, personal information, family information etc. The database kept by the firm assists in, Identifying the prospects. Deciding which customer should receive a particular offer. Deepening customer loyalty(ie information, gifts etc). Reactivating customer purchases(knowledge of past purchase is kept, gifts, certificates and promotion. FORMS OF DIRECT MARKETING. Face to face selling. Tele marketing-using phones to sell directly to customers. Direct mail-letters, ads, samples, fold outs are used the media used here include; voice mail, email, fax mail and physical mail. Catalog marketing-this is mainly through print, video or electronic catalogs. Direct response television marketing-this is direct marketing via television, including direct response television advertising or  commercial home shopping channels. Kiosk marketing- refers to information and ordering machines placed in stores and airports.it is different from vending machines because a kiosk  does not dispense the actual product. Internet/online marketing-this is marketing conducted through interactive online computer systems which link consumers with sellers electronically ie internet and commercial online services.

ASPECTS OF PERSONAL SELLING. Professionalism-this involves training sales people to the selling process the steps to effective selling include; Prospecting and qualifying-the company will find the leads by examining data sources such as newspaper and directories, organizing trade shows, using telephone and mails qualifying involves contacting the  leads to access their level of interest and financial capacity. Pre-approach/establishing needs-the sales person needs to learn as much as possible about the prospect company ie their needs, purchasing power, who is involved in purchase decision etc. Approach-the sales person should know how to greet the buyer, to get the relationship off to a good start. Presentation and demonstration-the sales person tells the product story using the AIDA formula that is getting attention, holding intrest, getting them to desire and obtaining attention ie Attention, Intrested, Desire and Action. Overcoming objections-this involves dealing with any resistance towards the product or the company.it could be as a result of preference for established supply sources, reluctance to give up something, pre-determined ideas and pleasant experiences with sales persons this should be overcome by; Maintaining a positive approach, Clarifying objections and Turning objections into a reason for buying. Closing –the sales person needs to know the right psychological moment  to close the  sale e.g. physical actions e.g. nodding in agreement, positive comments or asking questions. CLOSING  TECHNIQUES. Asking for an order. Indicating what buyer will lose if they don’t order now. Asking the buyer whether they want A or B or helping them make choices on colour or size. Follow-up and maintenance-This is necessary to ensure customer satisfaction and repeat business(customer comes many times).it includes scheduling a follow up call to ensure proper installation, instructions are followed and servicing of the product. NEGOTIATION Negotiating  skills are important in order to reach an agreement on price and other terms of sale a sales person should win the order without hurting the profits of the company. RELATIONSHIP MARKETING. This involves building a long-term supplier customer relationship in-order to ensure repeat business.it is based on the promise that ,important customers need focused and continuous attention e.g. calling them, visiting them, taking them to dinner or lunch, making useful suggestions about their business etc.eg equity bank offers calendars, pens success cards etc. PUBLIC RELATIONS/PUBLICITY. This involves a variety of programs designed to promote a company’s image or its individual product a public is any group or individual who has an actual or potential interest in a company’s ability to achieve its objectives.eg customers, employees, shareholders, suppliers, government and financiers. FUNCTIONS OF PUBLIC RELATIONS. Press relations-this involves news and information about the organization in the most positive way. Product publicity-this include sponsoring effort in order to publish specific product. Corporate communication-this is promoting understanding of the organization through internal and external communication. Lobbying-this involves dealing with legislators and government officials to promote certain issues within a company or defeat certain laws and regulations. Counseling-this involves advising management about public issues and about the companys position and image.it includes advising them on action to take in the event of a product failing to meet customer expectations. TOOLS OF PUBLIC RELATIONS Publications-this is published material used to reach and influence the target market e.g. annual reports, articles , company newsletters, audio visual materials etc. Events-this are special events such as conferences, seminars, outings, anniversaries, sports ,cultural sponsorships that are used to reach the target market. Speeches-talks before large audiences especially at trade association meetings in-order to build the company’s image. Public service activities(corporate social responsibility)-this is contributing time and money to good courses in order to build a good public image/public good will e.g. giving funds to children homes, building roads, financial support in education sector e.g. wings to fly programme etc. News-this involves developing a good story concept and getting the media to accept to feature it. Identity media-because companies compete for attention a company needs a visual identity that the public immediately recognizes e.g. logos on uniforms, stationery, business cards etc.