The Coronavirus outbreak is first and foremost a human tragedy, affecting millions of people. It is also having a growing impact on the global economy. A lot of countries are facing this pandemic and are trying to beat it.
There are five distinctive marketing concept types or approaches to achieving effective marketing. Notably, not all these marketing concept types work for all industries, because they differ in function. Every marketing concept was created depending on the need of the market. As markets changed, so did the concepts.
Relationship Marketing Orientation Era-This is the modern approach of marketing. Today’s marketer focuses on needs/ wants of target markets and aims at delivering superior value. The mantra of a successful marketer is ‘ Long-term relationships with customers and other partners lead to successes.
Consumer-centric marketing is a strategy that places your consumer at the center of marketing design and delivery. It is a strategy that ensures there is a healthy consumer-centric culture. It is about prioritizing customers over any other factor, using a blend of intuition, common sense, and solid data about customer behavior. You know that your customer is fundamental to your strategic success. At the heart of everything that you do and everything your organization does, should be an all-encompassing consideration of your customer.
Brand identity is the sum total of how your brand looks, feels and speaks to people. It is a way to communicate with the world, differentiate yourself from your competitors. A brand identity is what sells and not the product/service per se.
When coming up with an ad, it gets tempting to talk about your brand and what makes you unique in the market. As much as all that sounds fabulous and exciting to you, the customer just wants to get to the bottom line. Are all of my needs met? How convenient is this product or service for me? Tell your consumer how you will make their lives better. If possible, be specific as this will save the consumer time. Focus on the consumer and not the brand.
I, for starters do not mean to be negative. But the reality is; there are customers who simply are not right for your business. We live in an age where the customer is glorified and in return few of us take a moment to ask, was it worth it? The market simply tells us that the more the customers, the better your business model and the more the revenue. Today, I hope to convince you otherwise. A customer can be actually really bad for your business and knowing how to handle them is really important.
Welcome to the age of influence and data manipulation. We always like to believe that when we are making a purchase, we are doing it with minimal influence. However, that is not always the case. Marketers have found a way to make people gravitate towards the middle option. Most people are turned off by extremes. Getting the middle option that’s “just right” takes a balance of the old and new and influencing users incrementally when launching products or services. So what does the Goldilocks effect have to do with this?
And where there is a vacuum, no conversions will happen. This is why it is important to understand the psychology of your consumer and tailor your marketing efforts according to their needs.
Marketing is the cornerstone of every single business. For any business to prosper, business owners and marketers need to find a way to outwit their competitors. Having said that, half of the process involves understanding the psychology behind the buying process.