The Marketing Manager: a Good Impression in the Minds of Prospects - Research Paper Example

Submitted A strategy to retain s with the company Question One cannot imagine a company with out s. Retention of customers is as important as establishment of customer base. The satisfaction of the customers makes the service providers or the sellers or the entrepreneurs to develop their turnover and it helps them to increase profits. So the target of the service providers is to keep services up to the satisfaction of the customers and to retention of them. Consequently, they have to offer more than the regular services to retain the clients. The top management of the car rental company should be in the good books of the car owners and should think about the requirements of the tourists as well. They ought to know the queries and should give feed back on them. The company has to enhance its resources and should help employees to update their knowledge of tourism and hospitality services and latest marketing strategies. As the customer's satisfaction is the investment for the car rental company, every employee of the company should try to impress the hirers. For this, the organization has to gather the feed back from the customers regarding their services. And the company has to grade the customers and according to that gradation, the company should improve the services. Some times an 'of the field survey' is necessary to get the opinion of the customers and even phone conversations help the company to estimate the satisfaction of the customers. According to the field reports, the company can rectify its faults and may provide good services. The company should mind that it is more difficult to get a new customer than retaining the existing ones. The best method to get information from the client is to request them to fill up a questionnaire or a 'satisfactory form' at the end of the services, which tells the management about the treatment client received from the staff as well as the standard of services rendered by the company. 1 Question 2 Watch and Clock Market and its Segmentation It is necessary for the management of a Watch Company to grade its customers and market according various product ranges. By using such strategies, manufacturer can get good results and more profits than the competitors, and he can pave the way to be the market leader. Being a watch producer one should mind that he has to follow the 4Ps to become a good marketer. According to Anil Chawla (2003), the 4ps are described as follows. The first P is product wise gradation of watches that deals with variety, quality, features, options, brand name, sizes and warranties. The second P stands for Price and in this segment we can sell the watches in low cost, high cost, discounts, rebates and even on installment basis. The Third P is for place. The company can even grade the watches according to the selling place, like the coverage area, the mode of transport, and the location; where we are going to sale them. The last P is for Promotion. The way of promotion also decides the market segment of that watch. Different types of promotion are direct marketing, personal selling and chair marketing. Hence segmentation variables are Market characterization by dynamic growth, Key products at variance and improvement of retail sales thus generating a ground for wholesale market.2 Question 3 Low Cost Publicity For Cars Publicity plays major roll in the sales of luxury automobile products. So the manufacturers spend some money for the product promotion. However, in this case the company has to follow low cost promotions and should get good results. This can be done b y implementing appropriate plans. Marketing personnel approaching the persons (prospective customers) with business cards can be a good promotion method. The person who is responsible for marketing has to approach the customers with his business cards. Instead of giving advertisements in News Papers and TV channels, which are expensive, the marketing personnel of local franchise should frequently meet the professional groups like doctors, advocates and other good salaried employees and try to convince them to buy Maserati. One has to describe the features of his car through small conventions and seminars. The person can approach the magazines, and dailies which accept free ads. Yet times, online promotions also give best results with low expenditure. By conducting small contests company can draw the attention of the people towards their car. The marketing manager has to offer test drive for the customers and by providing small gifts for attending can put a good impression in the minds of prospects. Distributing letters, broachers and exposing the special features in car, when compared to those with the competitors can help in promotion of the automobile. A good marketing manager can include his car details on another products brochure. The company can also advertise the features and specialties of car in the brochures of two wheelers as they can be considered as prospective customers. Thus one can achieve good results by using low budget for promotion as well as publicity. 3 Question 4 Needing Unnecessary 'Needing unnecessary'; the only two words say the total concept of the essay and tendency of the consumers in the modern world. According to James B. Twitchell, psychology of the consumers changes according to developments in the society. The customers prefer the branded goods when their purchasing power increases. So the people of the higher income group don't bother about the cost and the use of the certain product but only mind its quality. They only concentrate on the brand and buy to show their social status. Because of this psychology, the branded products are being sold in large amount and the high earning groups are habituated for shopping and purchasing. Even the smoking has turned out to be a fashion in the high income group and they prefer costly cigars to show their financial status. Especially cars, beverage goods, magazines and textiles also been given brand image. In automobile sector BMW, Mercedes, Cadillacs and Volvo vehicles are made for the high income group and the products are also being purchased by them to keep their social status. Thus the consumers are purchasing the products that are not necessary but a luxury and are not bothering about the real need for the thing they buy.4 Works Cited Anil Chawla, Workshop on Marketing Management, Hindustantimes.com, Published in 2003, Retrieved on 27th January 2009 from < www.hindustanstudies. com/files/ marketmanage. Pdf> Craig Cochran, C u s t o m e r S a t i s f a c t i o n : T h e E l u s i v e Q u a r r y , Q u a l i t y d i g e s t. com, Vol. 9, Published in 2001, Retrieved on 27th January 2009 from James B. Twitchell, Needing the Unnecessary; The democratisation of Luxury, Reason Online, Published in 2002, Retrieved on 28th January 2009 from Janet Attard, 24 Low Cost Ways to Promote Your Business, Business Know How, Vol. 11, Published in 2009, Retrieved on 27th January 2009 from Read More