Porters Five Forces Analysis of Virgin Atlantic
Introduction To introduce the article, it would suffice to say that each of the five forces that are discussed subsequently differ in their impact on Virgin Atlantic as the dynamics underlying them vary and the strategy employed by the airline is subject to the fluid and the changing external environment. Virgin Atlantic is a pioneer […]
What are Successful Principles of Product Management
Companies that are responsible for the production and distribution of products have a lot on their plates. Every product has a particular lifecycle. In order for that lifecycle to last as long as possible, some considerations need to be made. A successful product manager is always vigilant in their efforts to do what’s best for […]
What is Multi Level Marketing?
Network marketing or Multi Level Marketing has caught on the fancy of people across the globe and as on date there are thousands who have made their millions through being a part of Network marketing. The success stories of such millionaires from US, Australia and UK etc are being published as a part of the […]
Role of Event Management in Corporate Communication
Event Managers or Corporate Communicators The question as to whether the corporate communications team in organizations has to take on the additional responsibility of organizing events has to be answered in the wider context of the organizations size and the budget that it allocates for this purpose. Though many multinationals spend lavishly on event management […]
Corporate Social Responsibility in Troubled Times and the Role of Business Leaders
What is the Responsibility of Business in These Troubled Times? It wouldn’t be an understatement to say that we are living in Dark Times and where the discourse and the narrative are dominated by hate and vitriol. Moreover, there is an unprecedented assault on the marginalised and the underprivileged, what with stripping them off their […]
E business model implementation brings with it several key results and benefits. First and foremost a successful implementation should meet with the Organisational goals that were set during the implementation phase. Increased customer awareness, capability to handle huge volume of customer orders, build customer relationship etc are some of the well known benefits that accrue out of the successful implementation program.
The IT partners or the Web Developers who undertake to build, maintain and operate your website provide you with a huge set of reports and data on various metrics. As a Marketing Manager if you are interested in converting your website into a powerful sales engine, then you have got to be keyed into the E business program and build knowledge from it. The website gives you the real and close up picture of your market and customers.
Unlike the traditional channels where your customers are at a distance and remote, you are able to see your customer behaviour up close and almost instantaneously. Your customers could range from an individual, an Organisation, Government, Defence or a trader, whole seller, retailer or a mix of all.
The lifecycle of products and services is very short. So also is the buyer’s loyalty and buying behaviour. In an every changing and complex scenario, if you have to make strategic decisions about your products, markets and pricing etc, it helps to make decisions based on facts and figures rather than based on past records, performance and understanding of the field sales personnel.
Secondly building knowledge about your Customer can give you inputs to the changing trends in the market too. Every day competition gets busy trying to promote sales using different types of sales promotions. Instead of spending money on trying to research and understand customer reactions through surveys, you can use the e reports to gain insights. You can also set up online surveys easily to obtain first hand impression from customers from across the segments.
Trying to build and maintain relationship with your Customer is very important part of your activity. Today’s customers are very demanding and are well informed. To hold on to a relationship with your existing customer, you have got to keep providing value to your customer.
The E Market platform helps you achieve this very easily and effectively. You are able to identify the segments that your customers belong to, understand their expectations and behaviours very clearly. Understanding your customer expectations makes it easier for you to create a customized value proposition for your each individual customer and thereby enhance the experience that the customer has with you.
Apart from building knowledge on Customer and their needs, you can also gain effective insights that help you tweak your supply chain operations too. Different customers have different strategies and methods of buying.
A defense organisation or a Manufacturing organisation might follow E Bid model to buy products while traders and retailers might like to place online orders on weekly basis or buy more depending upon the discount slab offered. Another major customer might want to opt for JIT supplies and expect to send JIT orders in electronic form. Understanding Customer expectations and delivery requirements can give you insight into maintaining leaner inventories, lesser distribution points and effective delivery methods.
On the whole, the more time you spend analyzing and building knowledge using the E reports and data generated, the beneficial it would be for your operations.
A smart marketing manager who is in tune with his E market is able to smell the changes in the trends in the market be it with competition or technology as well as with customer expectations. This gives him an edge to be ahead of others in providing the product and services to the customer and exceed customer expectations as well as drive the E strategy as the engine for sales growth.
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Mapping Customer Behaviour and Pattern is the starting point of E Marketing
February 12, 2025
