Flipping through what many marketers baptize as bible – Principles of marketing, inscribed by the infamous Philip Kotler and co-authored by Gary Armstrong, I came across the following definition of marketing – Broadly defined, marketing is a social and managerial process by which individuals and organizations obtain, what they need and want through creating and exchanging value with others.
The term that grabbed my attention was SOCIAL. Would marketers want to socialize with every customer that he/she comes across? Consider an instance where your consumers mostly entail those who belong to the premium segment (higher end), and wonder if they'd really like it if you socialized with them, talk to them about their work, their raiment habits and hover most of the conversation around their personal life? They would quite clearly get snappy and turn down your market offering even before you start your sales presentation.
There needs to be a proper interpretation of the term social here, and comprehend it in accordance with the kind of consumers that you deal with. With such High Net worth Individuals (premium segment) it would be best to just go about doing business as usual with very little or absolutely zero attempt at socializing. ‘If this is the case then how would we achieve repeat business’, could be an argument. Simply put, after the actual sale happens these consumers can be given a ring at a time that is convenient to them and be the first to offer a discount on the next repeat purchase. Again, there is absolutely no requirement for socializing, with the exception of adding a pinch of politeness to the conversation.
1 comment:
thanks it will become useful for my exam.
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