| Most Welcome to the Personal Website of Anil Vashistha |
Since 2002 I am working in the field of marketing. When I was a fresher I joined TATA Home Finance Co. Ltd. as a marketing executive and after that I joined ICICI Home Finance Co. Ltd. in marketing department. And my expertise is in Marketing. Now I tell you some facts about Marketing. |
| FAQ's | |
| Q. | What is Marketing? |
| A. | The process of making customers aware of products/services, attracting new customers to a product/service, keeping existing customers interested in a product/service, building and maintaining a customer base for a product/service. |
| Q. | 4 P's of Marketing |
| A. | Marketing decision variables are those variables under the firms control that can affect the level of demand for the firms products. They are distinguished from environmental and competitive action variables that are not totally and directly under the firms control.
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| Q. | Effective Marketing Tips |
| A. | Here are 10 tips for a smaller business either to get started in marketing or to review what you are already doing and make improvements.
Tip 2: Focus on the customer Make the customer the focal point of everything the organization does. Why? Because good, happy customers equal higher profits. If your team is too heavily sales or product oriented, consider a change of approach. Tip 3: Set up an effective marketing team In a customer-focused organization, marketing is something that everybody does - not just marketers. Everyone has a role to play, including: Your managers - who plan and look to the future, allocate budgets for marketing activities and co-ordinate activities; your sales force - who are the eyes and ears of the business and, through their frequent contact with your customers, can keep the business in tune with what the market is looking for; your marketing and communications staff - who develop and deliver marketing communications and support sales programs as well as coming up with innovative new product/service ideas; Your external marketing agencies and specialists - who are available to provide the occasional specialist support you need such as research, brochure design and printing, telemarketing or website development. Good communication between all these groups is essential to good marketing. But two things, in particular, ensure success. Your business should be committed to its customers and ensures everyone pulls together to deliver high quality products and services on time, every time. Tip 4: Divide your customers up into groups Every customer is different so why treat them all the same? To start treating customers as individuals, look at how and when they buy. This will help to start putting them into groups and understanding the needs of each group. For example:
Groups of customers who have similar needs or who behave in a similar way are known in marketing as 'segments'. You will probably need to use different marketing techniques and approaches to reach different types of customer. Tip 5: Identify customer benefits Now you can identify why each customer segment buys your products and services and what 'benefits' they are seeking. This in turn will help you to target existing and new customers more effectively with specific products and services. As a result you can make better profits. For example, low volume/high value buyers may be more profitable for you than high volume/high value buyers who may continually squeeze you on price. Tip 6: Decide how to deliver these benefits You deliver benefits through what marketing people call the '"marketing mix". These are essentially the tools of the marketing trade. Your goal here is to define your "unique selling proposition" (USP) - something that truly sets you apart from your competitors. It is usual to tailor the marketing mix to the needs of each segment. Tip 7: Decide what and how to communicate When you know who your audiences are and what they want, work out a message or messages to each customer segment. Since customers in each segment may want different benefits, the message to each segment may have to be adapted. The messages need to underline and explain the specific and relevant benefits that you can provide them. You can then decide the best way of communicating, whether it is through printed media, such as brochures, or electronic media, such as websites and email. Tip 8: Make a marketing plan Once you have made these key decisions, you have effectively developed a marketing strategy. Why not write it down? The plan may cover between 6 months to 5 years. Then you will have a document that explains what you are doing to anyone who needs to know. This includes your bank manager, external marketing agencies you use and new members to the team. It is a good idea at this early stage to involve members of the team who are going to be responsible for delivering the plan. The Chartered Institute of Marketing can help you devise your own marketing plan online. Tip 9: Get on with it! The marketing plan specifies what the marketing activities are, who is responsible for carrying them out and when. Now comes the time to get on and do it. Your role as a manager is to motivate your team and make sure you get the results you have planned for. Tip 10: Measure and control Your marketing plan gives you something to rate your performance on as you develop your business. For instance, if you spend money on advertising or PR, you can evaluate this against any increase - or decrease - in sales revenue, stock price or numbers of new customers contacting you. This will help you measure how effective your marketing activities are. |
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