C11BU – Research Philosophy and Practice
March 27, 2022
LAW3038 Theoretical Foundations of Criminal Law
March 27, 2022
Introduction:
In order to maximize the potentiality of the enterprise, different innovative tools use to be implemented which further change the working pattern or the entire workforce of the enterprise. The study would elaborate on changes that would contribute towards enhancing the effectiveness and reach of marketing tools and assist towards attaining customer satisfaction. Moreover, the necessity of coping with the dynamic changes of the economy and performing as per the expectations of the society would be highlighted to enhance the development and growth rate of the enterprise. Thus, the potentiality of bringing these changes depends upon the productivity of the workforce in collaboration with the credibility of the employees.
Evaluation of changes to improve the effectiveness of the marketing:
The entire game of business in the current modern world depends upon the extensive boundaries of marketing as it systematically enhances the reach of the enterprise and attracts more customers. Marketing not only deals with promoting products but to ensures that it enhances the curiosity among customers and improve the ongoing demand of the same (Field, 2012). While conducting a survey, implementing SWOT and PESTLE analysis, and analyzing competitors’ strategy contributes towards stabilizing the operations, changes in perception and marketing planning could exploit more opportunities and reduce the frequency of threats. Moreover, changes that are incorporated by enterprises, to improve the effectiveness of marketing are mentioned below:
1. Online Vs Offline:
The entire game of winning customers and attaining customer satisfaction depends upon easy delivery of products and enhancing customer comfort. Further, the reason for considering online marketing over and above offline marketing is mentioned below.
Reduction in profit:
Online marketing often regulates the vision goals of the enterprise which is to earn high profitability by reducing storage, maintenance cost. Instead, a website would be created which needs to be supported by productive technologies to secure the confidential information of the customers and further would automate the queries and demands of the customers and provide home delivery of products. This provides flexibility to customers in terms of searching products reading reviews and ordering accordingly without any need to visit stores and do the needful (Lorenzi and Riley, 2013). Moreover, it could also decrease the frequency of employees within the workforce of the enterprise and improve the productivity and efficiency of the workforce in the marketplace.
Cordial relationship:
The use of social platforms like Facebook, Twitter, etc would enable the enterprise to connect with a large mass of customers and enhance the reach of the organization. Further, the platform could also be availed for the purpose of addressing the queries of the customers and highlighting the positive yet attractive features of the products. On the other hand, it is highly difficult to create a cordial relationship with customers through offline as it involves communication, behaviour, and depends upon the inter-personal skills of the employees. Moreover, a cordial relationship could become less complex under online marketing as compared to that of offline marketing and would improve the retention ratio of the enterprise systematically (Brown and Osborne, 2012).
Income opportunities:
Online marketing often provides opportunities to implement affiliate marketing which provides income opportunities to young individuals and ultimate enhance the advertising level of the enterprise. Individuals willing to join the company gain information about the products and services and further spread the same in the marketplace. Thus, online marketing also contributes towards the betterment of society and contributes towards employment concerns of the economy.
Figure 1: Online Marketing
Source: www.verveinnovation.com.au
Productive control:
Control is important to ensure the direction of the enterprise is following the right path and the frequency of opportunities enhanced in the marketplace. With the implementation of online marketing, the enterprise becomes more efficient in terms of allocating resources, segregating duties, providing online support, securing customer information, etc and thus gaining better control over the operational activities.
Customer service:
All the above-mentioned changes are implemented only to enhance the level of customer service. Online marketing often organizes the entire marketing activities of the enterprise and leads to better handling of customer queries and attaining customer satisfaction. Moreover, the entire process of selling products and providing customer support often improve workplace efficiency and provide better controls to handle the contingencies or issues arising from significant sources (Olins, 2017).
Apart from the benefits mentioned above, online marketing also enhance the communication standard of the enterprise and signs deals with providing competitive advantage and better control while performing the operational activities. Thus, online marketing could be one of the most effective tools of the current economy, to cope with changes in the marketplace and perform as per the desire of the economy.
2. Brand and international marketing:
Even though the trends of the marketplace are highly dependent upon the demands and expectations of price-sensitive customers, the retention ratio of the enterprise could enhance only with branded products and price-insensitive customers. The changes of the marketplace are also dependent upon the income status of individuals who tends to enjoy more branded products with enhancement in terms of income or status. Moreover, brand and international marketing comprise of following innovativeness and productivity which contribute towards the betterment of the enterprise.
Enhance brand image:
It has been observed that branded products are not reviewed in terms of quality and price, but only reputation or goodwill in the marketplace. Branded products with reasonable quality could easily defeat unbranded and many substitutes products with much higher quality. Brand and international marketing enable the enterprise to play on this fundamental and improve the organizational image in the economy (Diesner, 2012). The brand image would not only retain potential customers but would also enable the enterprise to gain a competitive advantage and handle different financial and other contingencies.
Expansion of marketplace:
International marketing would also systematically improve the business boundaries and collectively reach to customers. The expansion would be highly profitable if the products have a good reputation in the economy and further is supported with an efficient cost leadership strategy. The market expansion would be highly difficult to achieve with the implementation of domestic or local marketing and could also restrict the profitability yet efficiency of the enterprise in the economy. Advertising become more extensive and information about different products could be easily spread with the use of social platforms and international newspapers.
Business networking:
The entire growth and development of business organizations depend upon the frequency of customers and suppliers working underneath. With the consideration of global networking, the enterprise found itself in much better chances of identifying more potential suppliers and regulating with founding more customers in the marketplace (Kania and Kramer, 2013). Business networking would ensure that the enterprise would continue to dominate the marketplace and exploit the opportunities residing in the boundaries of the business. Thus, international and brand marketing could lead to more collaboration of suppliers and customers and systematically enhance the revenue generation ratio of the enterprise.
Figure 2: Brand and International Marketing
Source: www.tutorialspoint.com
More opportunities:
International marketing often enables the enterprise to maximize profit and potentiality with the collaboration of new technologies, vendors, and sales base. This would certainly popularize the products of the enterprise and increase the frequency of opportunities to develop the position and performance of the organization in the marketplace. However, it is necessary for the HR department of the organization to recruit credible and efficient professionals and accordingly provide training to handle international operational activities and overcome different financial and other threats arising from significant sources.
Loyal customers:
Loyal customers often improve the revenue generation ratio of the enterprise and gain a competitive advantage by defeating competitors and other rivals. Branding of products often attract price-sensitive as well as price-sensitive customers and contribute towards successful marketers in the economy. Loyal customers would consistently contribute towards the betterment of the enterprise and strengthen the foundations of the organizations to cope up with the changes of the marketplace and perform as per the requirement of the economy (Raza and Standing, 2011).
Moreover, brand and international marketing would certainly improve the operational scale of the enterprise and enhance the frequency of opportunities along with decreasing different types of threats of problems. Thus, proper business planning and strategic thinking are required to attain customer satisfaction and handle different queries in the best possible manner.
3. Product centricity to customer centricity:
Product centricity often disturbs the demand-supply balance and decrease the efficiency and effectiveness of the organization in the marketplace. While product centricity would systematically enhance the quality and features of the enterprise it would certainly fail to attract customers and further decrease the financial condition and status of the organization in the marketplace. Further, it also involves the implementation of the latest technologies that attract investment and further affect the profitability of the enterprise in the marketplace.
However, customer centricity on the other hand would deal with evaluating the demands of the customers and accordingly producing products to maintain equality in terms of demand and supply. Thus, the change of product to customer centricity comprises of the following benefits (Raza and Standing, 2011).
Customer benefits:
Customer centricity would certainly deal with providing customer benefits and using the operational activities of the enterprise for the betterment of society. It tries to create a most productive situation for customers and further allow organizations to remain strategically focused and exploit all the opportunities residing with the economy. Moreover, customer-centricity enables the enterprise to identify new needs of the marketplace and accordingly change the workplace to attain the changing requirements of the economy. Thus, allocation of resources becomes more systematic and segregation of duties or obligations becomes efficient and further enables the enterprise to become more efficient in terms of providing customer benefits and dealing with different kinds of contingencies.
Customer management experience:
Instead of focusing on enhancing the product development rate of the enterprise, customer-centricity enables the enterprise to improve the customer management experience and improve the financial position of the enterprise. It changes the parameters of the workforce to develop new solutions and address the changing requirements of the workplace accordingly. Moreover, the process of identifying new opportunities and overcoming threats becomes more systematic and contribute towards improving the potentiality of the enterprise in the marketplace (Katzenbach and Smith, 2015). Thus, customer experience management changes the entire perception of marketing and contributes towards stabilising the operational activities of the enterprise.
Figure 3: Customer Centricity
Source: www.superoffice.com
Rewarding employees:
Rewarding employees who frequently interact with customers would provide a competitive edge to the enterprise and improve the marketing standard of the organization. This would ensure that employees would perform accurately and further feel motivated while addressing the queries of the customers and attaining customer satisfaction. Rewarding is also necessary to retain qualified yet talented professionals and improve the positivity of the workforce to handle contingencies collectively and contribute towards the betterment of the enterprise. Thus, rewards could be financial yet non-financial in nature but should strictly deal with motivating and retaining employees for a longer period of time (Grund, 2012).
Influence customers:
Customer centricity often enables the enterprise to influence customers and other buyers of the enterprise to gain a competitive advantage. Influencing would also enable the enterprise to strictly control the operational activities of the enterprise and cope up with the changing requirements of the marketplace. Influencing is necessary to maintain creativity and credibility while dealing with different types of contingencies and exploiting different kinds of opportunities residing within the economy.
Customer satisfaction:
Customer centricity collectively deals with providing customer satisfaction by matching the requirements of the customers and changing the workforce accordingly. The research department of the enterprise under such a scenario is always curious in terms of addressing new needs and queries so to perform accordingly and reach out to as many customers as possible.
Moreover, collective performance from all the three changes mentioned above could improve the system performance of the enterprise and create new financial and other opportunities in the marketplace.
Conclusion:
The study highlights the potentiality and advantages of effective marketing planning only if an enterprise bears the risk of implementing certain changes within its workforce. While the transformation to online from offline marketing would reduce cost and enhance the reach of the enterprise, implementation of brand and international marketing could extend the boundaries of the enterprise and creation of loyal customers (Rummler and Brache, 2012). Moreover, customer centricity could shift the focus of the enterprise from earning profitability to attaining customer satisfaction so to exploit more opportunities and overcome different threats.
References:
Field, C.B. ed., 2012. Managing the risks of extreme events and disasters to advance climate change adaptation: special report of the intergovernmental panel on climate change. Cambridge University Press.
Lorenzi, N.M. and Riley, R.T., 2013. Organizational aspects of health informatics: managing technological change. Springer Science & Business Media.
Grund, T.U., 2012. Network structure and team performance: The case of English Premier League soccer teams. Social Networks, 34(4), pp.682-690.
Brown, K. and Osborne, S.P., 2012. Managing change and innovation in public service organizations. Routledge.
Katzenbach, J.R. and Smith, D.K., 2015. The wisdom of teams: Creating the high-performance organization. Harvard Business Review Press.
Olins, W., 2017. The new guide to identity: How to create and sustain change through managing identity. Routledge.
Diesner, J., 2012. Uncovering and managing the impact of methodological choices for the computational construction of socio-technical networks from texts (No. CMU-ISR-12-101).
CARNEGIE-MELLON UNIV PITTSBURGH PA INST FOR SOFTWARE RESEARCH.
Kania, J. and Kramer, M., 2013. Embracing emergence: How collective impact addresses complexity. Blog entry, January, 21.
Raza, S.A. and Standing, C., 2011. A systemic model for managing and evaluating conflicts in organizational change. Systemic Practice and Action Research, 24(3), pp.187-210.
Rummler, G.A. and Brache, A.P., 2012. Improving performance: How to manage the white space on the organization chart. John Wiley & Sons.
