.

ISSN 2063-5346
For urgent queries please contact : +918130348310

A STUDY ON THE CUSTOMER CENTRIC MARKETING STRATEGY APPROACH

Main Article Content

Mr. Venkateswara Gupta Alamuri, Mr. Ashok Desai
» doi: 10.48047/ecb/2023.12.si5.067

Abstract

A business marketing strategy shows an action plan to reach people and turn them into customers for the products and services offered by it. It is the information of a company's value proposition, prospective leads, marketing campaigns’ purposes, and other top essentials. Marketing strategies are similar to marketing plans, but not the same. A marketing strategy picturises the business offerings like value proposition and associated brand messaging. Marketing plans, on the other hand, deal with how your business goes through important messages - platform, creative, timing, etc. Marketing strategies grow from a company's value proposition. A value proposition is a summary of the competitive differentiators an organisation in a market. A value proposition usually provides important marketing messages right from print ad design to social media campaigns. Marketing assets can be gauged by how well the value proposition is communicated. Marketing assets’ efficiency can be enhanced by adding market research to the marketing strategy, to identify and segregate untapped audiences, herby refining the customer data. Various marketing strategies are available. Choosing one involves analysing business needs, identifying prospective leads and product specifications. The 2 main marketing strategies’ types are business-to-business(B2B) marketing and business-to-consumer (B2C) marketing, business-to-consumer (B2C) being the widely used form. Firms usually follow either penetration, market development, product development, or diversification as a marketing strategy, depending on several factors, like life-span of the business to whether the business intentions (whether to focus on existing products and services or new ones). Penetration strategy is generally advisable for a new business in an area.

Article Details