Thursday, October 29, 2009

COMMUNICATION REACHES THE CONSUMER

 Consumers are affected by the communication a brand has with them. This communication as well as the experience they have adds to the brand’s value in the mind of the consumer and builds on their cognitive and emotional ties to a brand.

 THINK OF IT THIS WAY

Communication is the message that is delivered to the client; marketing is the means of getting it there. Therefore, communication is not  just a part of the marketing mix but also should be integrated into your customer service process from the accounts payable department all the way through to your sales staff and even the CEO of your company. It is your message to the customer. The message you wish to communicate with them, your ethos and way of thinking.

Knowing that communication is part of the marketing mix but also your entire company message, you need to think about what that message will be and think about it seriously. As an organization you should all be delivering the same message and the same ethos, there is little point being customer friendly and bending over backward for them on the advertising if the sales person is harsh and unmovable, there is not point giving guarantees as a salesperson that your customer service team is unable to deliver on.

 IMPORTANCE OF SEGMENTATION IN MARKETING AND ITS RELEVANCY IN BANK MARKETING

the importance of market segmentation results form the fact service are no homogeneous group, Actually, every buyer has individual needs, preferences, resources and behaviors, since it is virtually impossible to cater to every customers' individual characteristics, to market segments by variables they have in common, these common characteristics allow developing a standardized marketing mix for all customers in this segment

 DEFINITION

Market segmentation is the segmentation of markets into homogeneous groups of customers, each of them reacting differently to promotion, communication, pricing and other variables of the marketing mix. Market segments should be formed in such a way that differences between buyers within each segment are as small as possible, thus, every segment can be addressed with an individually targeted marketing mix

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