HI5004 Marketing Management Tutorial Question Assignment 1 Answer
It is very important for all departments to work in coordination manner so that core process of business can be attained (Aghazadeh, 2015). The individual departments cannot work alone in organisation for attaining business goal and objectives. Main four core business processes are as follows:
Customer Relationship Management Process- This is defined as process to create relationship with customer with help of CRM strategy that helps business to address issues, problems of users and create connection with them for long period of time.
Example: Apple is using CRM strategy in order to create relationship with their customer by connecting through IOS.
Marketing Process- This is important core process of business which required collecting information about customer through interviews, focus groups, surveys and questionnaires (Foroudi and et. al., 2017). It helps in making decisions about organisation and their people to provide them with high quality products and services.
Example: Organisation body shop has to adopt marketing process to know about taste and preference of customers in comparing with competitors.
New Offering Process- This is defined as process where new products and services are manufactured by doing proper research and development and providing final products at marketplace to check viability in effective manner. It is important to provide high quality products to consumers at market.
Example: The main aim of Apple Company is to earn revenue which is possible by launching new iPhone-11 with various innovative features in it.
Consumer Acquisition Process- It is defined as core business process where segmentation of customer is identified for targeting potential users for their business (Homburg, 2016). The main aim is to create chronological as well as sustainable acquisition for master plan that is merging through existing trends as well as external changes.
Example: Amazon is focusing of doing customised as well as personalised campaigning of emails. On other hand, Instagram is focusing community of people living in society.
Qualitative research is referred as procedure which mainly emphasises on collecting data and information by using various tools as well as techniques like case study, questionnaire, interviews and observations (Järvinen and Karjaluoto, 2015). This is focusing to understand exploratory grounds as well as ascertaining about specified functions in order to perform. It is delivering textual information rather than statistical information with some analysis or purpose. Qualitative research does not focus on dealing with quantative information as it is exploratory in nature and collecting all non-quantifiable data with some purpose. The methods used in research are regarded as important tool to introspect behaviour of social environment, concepts and issues with helps of rationale as well as reasoning phenomenon. This is important for marketers and cost effective in nature to verify feasibility of fresh goods along with taking feedback from customers who are using it. The drawbacks includes following:
Reliability- This research is totally depended on experience of researcher that is involved in investigation (Järvinen and Taiminen, 2016). The investigators need to communication with their people for gathering accurate and correct data and information. If research is not done properly then it leads to ruin aim of collection.
Costly- Qualitative research is time taking as well as costly in nature because investigators collect information by taking time, efforts and try best to meet with set expectations in proper manner.
Biasedness- This is the drawback of qualitative research as research can do bias for outcomes which has attained by them while collecting data and information for positive results (Johnsen, 2018).
Lack of Accurate Data- This research has possibility of less accurate as compared to quantitative research. The data and information collected by researcher can easily be manipulated according to their convenience which leads to rise inaccurate data and information in negative manner.
From the video, it has found that customers are regarded as half time marketers and keeps on changing from time to time and knows about current trends as well as fake tactics of marketing that are applied by top organisations like Lego and Facebook where customer get replies in automatic manner for their issues and problems. Similarly, on other side, if customer get delay reply or their messages are not seen then it leads to create aggressive as well as lack of satisfaction to them which leads in losing faith and trust towards such organisation for buying of products and services in appropriate manner. In addition to this, consumers of 2020 are high demanding as well as aware about current trends of goods and services that are offered by business at marketplace. Moreover, other issues faced by customers are in terms of fake advertisement and fake promises made by companies for promoting their product and making fool to user to raise their market share. These need to be solved through honesty, transparency and in quick manner for customers.
In addition to this, mobile technology has lead consumers to depend on online shopping where marketer should analyse taste, preferences and behaviour of customers for remaining competitive at marketplace (Kerr and Patti, 2015). Customer does price comparison of both online and offline and purchase same types of products where they found at cheap price so market should understand behaviour of consumers. Consumer prefer high quality products and services, prompt reply, proper solution to their issues so they stick to single brand and organisation and does not switch from one to another. Also, there is fake branding as well as repeated branded content online are regarded as elements which makes consumer upset where marketer need to provide true and honest presentation of online content. Moreover, smart-phone has made customers to change their behaviour as well as attitude for buying of products and services. Therefore, customer of 2020 are half time marketers and reflect as red flag to reach target audience so in this case marketer need to change their behaviour as well as implement new strategy for attaining competitive advantages.
Family is consists of brother, sister, parents and so on where individual possesses some elements from parents like religion, love, self respect, distinctive cultures (Kireev and (Povorina, 2016). The buying pattern of every family differs from one another due to nature, size and types of family. When there is propagation of family then there is impact of purchasing behaviour as they prefer to buy branded products and services. Also if family is joint where parents are looking after their children there they cannot purchase high branded product and services and influence their buying patterns. Thus, family is regarded as important primary control group for people. Two family categorization which influences buying behaviour of customers are as follows:
Children- The children help in influencing purchasing of families pattern as well as behaviour and work as adult consumer (Lambert and Enz, 2017). Children have authority and impact buying behaviour in terms of games, toys and so on.
One Spouse- There is change in pre and post marriage buying behaviour of customer due to change in lifestyle. The dominance of husband is more as compared to wife for buying habits as well as making finalising decisions for purchase of products and services. Therefore, under category of spouse plays important role in buying of products and services.
The marketing strategy of Tesla for zero investment is regarded as paid advertising which is important strategy to make market dominant at competitive marketplace (Möller and Parvinen, 2015) (Mu, 2015). In case of future aspects, there is lack in social media visibility that can be corrupt as well as disturb industry in overtaking by competitors like Ford and Honda. In addition to this, strengthening up competition leads to make social games to scale up their position. It is very important for organisation to use affordable marketing campaign for survival and sustainability at market by large auto cars. Also, CEO of respective organisation should focus on paying attention to social media marketing for saving cost in future time period.
The segmentation of Tesla is mainly focusing on individuals who have good knowledge about technology, prefer eco-friendly goods and want to buy expensive or luxurious car. Moreover, the products of Tesla are expensive in nature as compared to their competitors. In addition to this, it can be concluded that Tesla target only well families and rich category people for buying of products and services. It has mainly targeted youth as well as individual people of age group of 40’s for buying their luxury cars. Thus, it can be concluded that Tesla has focused on high status group people, aware about modern technology and Youth is main focus to sell their cars.
Tesla has bright future in context of mobile industry as it is already shining in providing of high end cars for buying of products and services (Olson and et. al., 2018). In addition to this, it was seen that growth of Tesla is like to expand in coming years and will become leader of market. Moreover, Tesla provides eco-friendly products and services to target users which will help in gaining competitive gain automobile industry. Therefore, Tesla has gain rivals from their Honda and creates immense presence at marketplace. Hence, it will assist in future expansion of business at market and leads to success and growth.