Why Some Firms Do Not Do Strategic Planning
Many firms do not engage in strategic planning and some firms do strategic planning that is poor and ill conceived. Some of the reasons for this sorry state of affairs in these firms are listed below: The first and foremost reason for poor strategy is the lack of experience in strategic management which is due […]
Role of Planning, Plans and Planners in Mintzbergs Five Configurations
Role of Planning, Planners, and Plans The previous article discussed the five configurations of organizational structure that Mintzberg proposed as part of his theory. This article examines the role of planning, plans, and planners in each of the configuration. To start with planning is an important element of strategy whenever there is excessive standardization and […]
Steps in Strategy Formulation Process
Strategy formulation refers to the process of choosing the most appropriate course of action for the realization of organizational goals and objectives and thereby achieving the organizational vision. The process of strategy formulation basically involves six main steps. Though these steps do not follow a rigid chronological order, however they are very rational and can […]
Customer Life Cycle
If in an organization, many customers diverge their way to other organizations and customer acquisition program shows less aggressiveness then the organization faces terrible cash flow problems. This is the time when tracking the number of customers in each stage of customer life cycle becomes essential. This helps the organization to determine the purchasing power […]
The Global Village: Media in the 21st Century
The legendary media theorist, Marshall McLuhan, coined the term “The Global Village” to indicate the mass production and the mass consumption of media images and content across the world. The term denotes the coming together of the countries of the world in one gigantic web of media landscapes. To take an example, the popular US […]
There are primarily three models in business to business marketing:
The above model includes small locally operated businesses which are not much organized. Organizations categorized under Traditional local business model still use primitive methods of promoting a particular product or service.
Such businesses are generally not managed by professionals. Individuals with some technical and sales knowledge are appointed who run the whole show.
Methods of Promoting the Brand
Such businesses promote their products and services through discount coupons in newspapers or any other form of print media.
Advertisement in radio is one of the most powerful ways of promoting a brand. It creates awareness of a particular brand among clients. The only limitation in radio advertisements is that it is difficult for the businesses to keep a track on the results.
Local Television Advertisement reaches a wider audience. It is much expensive than print ads and radio ads but instantly creates a buzz among clients.
Businesses also create websites of their own to promote their products and services. Promoting a brand through website also has its own limitation. An organization would only benefit if clients come across the particular website and immediately call concerned officials for further assistance.
The only limitation in Traditional local small business model is that businesses find it difficult to keep a track on the results and output.
Such businesses are much more organized and technically advanced than above businesses.
Such businesses believe in promoting their products and services through social networking sites such as Facebook, Linkedin and even Twitter. Upload a nice presentation of your organization’s products and services in networking sites for clients to gather as much information as they can.
Such businesses are intelligent enough to rank their websites in search engines. Any client typing a particular keyword in Google, Yahoo, MSN or any other search engine would automatically be directed to organization’s website as per his needs and requirements. The websites are professionally managed and moderated by individual concerned who keeps a complete track on client’s comments, queries, suggestions, feedback and so on.
Search Engine Optimized Site, Social Media and Email Marketing Integrated
Such businesses use internet to its full potential. Such businesses use email marketing to promote their products and services. Business marketers make a nice presentation of their products and send it to the prospective clients through email. Make sure you call up your clients to find out whether they have received and read your mail or not?
Business marketers believe in maintaining a healthy and strong relationship with their clients so that they do not go anywhere else. Such businesses establish trust with their customers.
Such businesses promote their products through:
Ranking their organization’s website in search engines such as Google, yahoo etc so that customers do not have problems in searching the website.
Once clients arrive to the site, they are often presented with various lucrative options such as discount coupons or are asked to subscribe to organization’s newsletter, brochures, email alerts and so on.
The moment a client subscribes to the discount coupons or email notifications, organization gets its confirmed client.
Businesses also promote their brands through social networking sites and sending emails to the clients.
Such businesses do not have to spend on advertisements but can make their brands popular through sending emails to their repeat customers.
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Business to Business (B2B) Exchanges – Virtual Market on Internet
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Business to Business (B2B) Internet Marketing Strategies
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