The two main marketing principles are:
Entire efforts of a company should be directed towards satisfying customers. Sales volume which is profitable is more important than maximum sales volume.
Marketing strategy is identifying customer groups and serves them better than its competitors by offering tailor made products, prices, distribution and promotional methods to that segment. The strategy should address unmet customer needs that earn potential profitability.
Identifying separate customers who makes up large groups which helps to locate their needs more specifically. This smaller segment of the general market is convenient for market research and information helps to serve this segment better. This segmentation can be done in two ways
Geographical segmentation – serving customers’ needs in a particular geographical area.
Customer segmentation – identifying those people who buy products and services and targeting those groups.
Products and service:
To satisfy the target markets product is very important. This is how organizations earn revenue. These products may be in the form of goods, services or ideas.
Promotion is communication process with the customers about the products through advertisements and direct customer interactions. This helps companies to distinguish their product from competitors.
The right price is the crucial for maximizing total revenue. In general higher prices means lower volume and vice versa.
Our implementation division provides a range of solutions, based on your budget, to ensure sustainable change and continuous improvement is achieved in your business.