Friday, October 11, 2019
Marketing Changing Essay
Along with the changing business world, customers change as well, becoming more demanding and knowledgeable than before. In turn, company management had shifted their focus on their clients or customers so as to stay successfully in business. This transition meant that Estee Lauder have to completely reformulate their conventional business aims and purposes from being process-focused to customer-centred. Rethinking and reformulating the organization on the other hand, entail the consideration of several factors such as various processes, technology, the environment as well as the success factors of people (Cohen and Moore, 2000). Hence, in order to bring out exceptional customer services within the company operations, the management should employ fine-tuned organizational restructuring. Moreover, employing proactive customer commitment involves the consideration on culture and infrastructure (Lowenstein, 1997).                The creation or formulation of a marketing communication plan is essential for all industries. In most cases, communication is necessary to mobilize support, remove uncertainty, establish acceptance, and most importantly, reduce the risks. Oftentimes, the implementation of marketing communication strategy through for example, new product or new initiative, requires enormous allocations for both staff and financial resources. Hence, all efforts and resources must not go to waste; they must all be directed towards the objective of the company (Neumann and Sumser, 2002). Several disadvantages can be obtained due to inadequate planning of the marketing communication strategy. For instance, it could lead to productivity losses, including loss of both existing and new staff and economic loss. The absence of a marketing communication plan may also lead to false starts and personal losses, which can occur as stakeholders become frustrated and disappointed over the general mission (Neumann and Sumser, 2002). On the bright side, these losses are avoidable. In support of the creation of a marketing communication plan, Shimp (2003) had noted that the efficacy of marketing communication lies on four major aspects. These aspects state that marketing communication should be clearly positioned; directed to a particular target market, created to achieve a specific objective; and undertaken to accomplish the objective within the budget constraint. According to Byron in 2006, Estee Lauder debuted its first-ever online campaign for its flagship brand, with ads promoting its newest anti-aging product, Advanced Night Repair Concentrate. The campaign includes a dedicated site at www.thelittlebrownbottle.com, advertisements on blogs and a sponsored MSN.com site called `Night Spa.` The company declined to quantify the cost, although it said the online budget was coming out of money normally spent on traditional media. Està ©e Lauder spent about $60 million advertising its namesake brand last year, according to a person familiar with the matter. Under the marketing plan, clear positioning is identified through the determination of the Estee Lauder’s Advanced Night Repair Concentrate, its image to the customers as well as its competitors. In terms, of market communications, these aspects are also related. Marketing communication must be clearly positioned in such a way that its objective and strategy places the product over all other competitors. An advertisement for instance, must be able to stand out to the consumers so as gain a stronger foothold within the market. Popular commercial statements for instance, also create clear positioning out of marketing communication. Estee Lauder for example is known for its main mission, which states that the company’s purpose is to create value for customers to earn their lifetime loyalty. Through this popular slogan, Estee Lauder clearly positions itself in most retailers that provide everything the customer needs so as to gain their patronage.                By means of studying the competitors, Estee Lauder can apply a marketing communication strategy that will clearly position its product to the target market. This aspect of marketing communication can be explained further by understanding customer relationship management. By establishing good relations with the company’s customers, clear positioning of marketing communications can be attained. The implementation of customer relationship management (CRM) through the comprehensive approach can provide the company considerable competitive advantage. This aspect is very much essential to this time considering that most services or products offered by companies have certain similarities (Lowenstein, 1997). Strategy perhaps, is the most important key to the successful implementation of customer relationship management. In order to do so, company management must realize that, either directly or indirectly, the achievement of its goals contributes much to the customers’ or clients’ general experience with the company. Successful incorporation of people, process and technology is probably the most efficient strategy in CRM implementation. This system begins with the purposeful and dedicated alignment of the processes employed by the management. These include the planning, organizing, directing and controlling procedures, which are all geared towards the customers (Cohen and Moore, 2000). Thus, customer management relationship, also referred to as customer service management, encompasses more than the attainment of customer satisfaction. This change management is a balance between enhanced company processes and renewed objectives. In other words, customers should also feel that the companies and businesses they support and patronize give due importance, essentiality and vitality to their operations (Cohen and Moore, 2000).                Marketing communication must be created to achieve specific objectives. Upon the identification of the target market, the company must then formulate the message it wants to relay to its audience. This is also referred to as the company’s value proposition. The creation of the objectives of marketing communication is important so as to cause an impact or effect to the each member of the target audience in spite of the extensive communication noise (Neumann and Sumser, 2002). In a way, the identification of the objectives will help the company come up with communication methods that will it stand out or different from the rest. The consumers need to understand fully how the communication message will affect them. If it is a relevant message, and they are able to decipher its effect on them, the company will be able to successfully communicate the message.                The objectives of marketing communication are interconnected with the activities the company can apply for effective communication as well as its target market. For instance, the company aims to improve and broaden its services to its customers. In order to do this, the company applied a strategy through the use of the internet. Considering that some customers are working on the field, this strategy will only work for customers who work on online environments. Hence, the company must apply a marketing communication strategy that is applicable for all targets. In addition to the consideration of the total target market, each individual must be exposed to the company’s message several times so as to establish a stronger connection. This can be achieved through the use of several strategies such as the conduction of various events, online marketing, direct mail or advertising.                Basically, the objectives of companies for employing marketing communication are concentrated on the enhancement of customer services, augmentation of market coverage, increased company profit or introduction of a new product or services. In order to achieve these objectives, companies apply various forms of strategies. The tremendous growth of technological advancement has become the driving force of contemporary industries. The diffusion of the internet has revolutionized the business arena. The use of the Internet is changing high-tech marketing overnight while different industries have been trying to use it as part of their marketing strategy. It has not only reconfigured the way different firms do business and the way the consumers buy goods and services, but it has also become an effective instrument in transforming the value chain from manufacturers to retailers to consumers, creating a new retail distribution channel (Donthu and Garcia, 1999). E-marketing is a powerful tool used by different business organizations around the world.                E-marketing is also known to be the online marketing strategy utilized by different company whose objective is to be the best company in their field. In various countries worldwide, more and more business firms have been using e-marketing strategy in order to be competitive. From books, foods and beverages, automobiles and other products and services, various firms, irregardless of their company sizes, are trying to survive by means of e-marketing strategy. Aside from being a promotional medium, the internet is a tool for marketing communications as well. Due to its interactive nature, the internet is an efficient method used in communicating with the consumers. Hence, several companies are beginning to realize the advantages of using the internet as a tool for communication. Companies then started to concentrate on designing web-related strategies and employing interactive agencies that will facilitate their development of specific company web sites as part of their integrated marketing communication strategy. There are companies however, that are effectively using the internet by incorporating their web-related strategies with the other areas of their IMC strategies. The approach now becomes integrated and more strategic. On-line marketing is considered to be the most expensive yet seems to be the most comprehensive marketing strategy that every company wants to implement and apply. At present, people, particularly those in the business arena, tend to engage themselves within the trend of rapidly growing technology so as to stay competitive. Upon surfing the internet, various companies have put up their official sites online for customers and potential consumers to view. Online or e-marketing is the latest marketing approach for any firm who wants to effectively market its products and services. In addition, e-marketing enables the company to be known worldwide since more and more people are able to access information derived from the internet. Within the business world, where competition is strict, internet marketing is one essential marketing strategy applied by most industries. Marketing is indeed a complex combination of several factors. Within the concept of effective marketing communication, an effective plan must involve clear positioning, identification of the target market, establishment of specific objectives and strategy implementation within budgetary constraints. In order to successfully apply marketing communications, companies must be able to integrate all these factors, such as the ones exemplified by Estee Lauder to its retailers. References Cohen, S. & Moore, J. (2002). Today’s Buzzword: CRM. Public Management, 82 (4), 10. Donthu, N. & Garcia, A. (1999). The Internet shopper. Journal of Advertising Research, 39 (3), 52-58. Lowenstein, M.W. (1997). The Customer Loyalty Pyramid. Westport, CT: Quorum Books. Neumann, E. & Sumser, R. (2002). Marketing Communications: A Vital Element of Achieving Change. The Public Manager, 31 (4), 9+. Shimp, T.A. (2003). Advertising, Promotion, & Supplemental Aspects of Integrated Marketing Communication. Sixth Edition. Southwestern: Thompson. Â
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