Principles of Marketing Seaworthy College In any type of organization, the internal marketing strategy and end result can greatly affect the outcome of any measured external results. Internal marketing is created and carried out In order to align, motivate and empower all employees on all levels of the business. When employees feel motivated and empowered, what follows is typically positive customer experiences that are truly aligned with the firms’ organizational goals. Success in any business starts with the many roles that employees will play, in which each roll affects all others.
One role the employee will play is the worker that they are in the environment they are provided. An employer or internal marketer needs to provide a work environment that enables the employee to feel excited and rewarded by their everyday duties. If the employee feels motivated by the excitement or reward, they will strive to Increase their performance. Increased performance, In turn, Increases customer satisfaction. With both employees and customers satisfied, all levels of the organization will then be satisfied. If satisfied, the employees and customers will remain loyal to the organization.
Employees will also be more apt to remain loyal if they are aware of any possible challenges and given direction. All of these roles will help evolve and preserve the compass culture, with little culture or low productivity could greatly benefit from internal marketing. Internal marketing is also achieved through quality management training. This is a form of training that will enable the staff to see the cycle between employee relations and producing quality products or services. Communication with employees will increase heir knowledge, which in turn creates greater awareness and allows for the expression of opinion.
Along with communication and awareness, incentives can greatly affect attitude, knowledge, and the willingness to offer an opinion. Some incentives available are positive working conditions, salary recognition, and personal growth. Positive internal marketing looks to adjoin departments which will increase harmony and further improve communication. Overall, the main objectives of internal marketing are to keep the internal stakeholders satisfied and motivated. In turn, as an end result, it will keep the external customers satisfied. It will also improve employee relations and core competencies.
Core competencies are defined as the strengths and advantages of a business. These competencies allow a company to expand, but should be unique enough where they cannot be replicated. All internal marketing will affect the external outcomes of each business. When the internal strengths are matched with external opportunities, all needs of customers will be met. Therefore, organizations should convert any internal weakness to strengths and all external threats into opportunities. Internal strengths ND weaknesses should be analyzed for insight on accomplishing any internal goals.
It will also open awareness for advantages in achieving external goals. A review of employees and production will allow someone to spot possible advantages or impediments. A review of the financial ratios should be conducted to compare with other competitors. Possible external opportunities would be gaps in the market where no company is actually serving. This will allow for a new market or growth opportunity. Possible threats would be any competitors or new products. Most successful businesses not only consistently analyze their marketing, but also look to create a customer centered business.
This is done by starting with the customers instead of starting with the product. Starting with the customer is creating a business’ actions to support sales and staff to meet the specific clients’ needs. More simply put, it’s putting the customer first. Same positive result. The strategies are based around creating a quality product and correctly responding to complaints and inquiries. This is achieved through seven steps that are completed at the business level. The first step is to communicate your central philosophy simply but meaningfully. A few short words shouldn’t be hard to remember but mean the business.
The second step is to elaborate the company’s core values. This is a definition of how the customers, employees, and vendors should be treated at all times. The third step is to reinforce your commitment continually. The more often it is stated, the better it will stick. The fourth step is to make it visual. If an employee sees the philosophy and commitment in every day surroundings, it will become second nature. If the customer sees the same, they will begin to realize what the company strives on. The fifth step is to make it a focus during orientation.
Orientation is the time where new hires take the key elements of the business away from the table. If it is mentioned in orientation, they will know the importance. The sixth step is to train, support, hire, and enforce. Some employees need to be taught and encouraged to follow new ways of thinking and acting. This will, in turn, generate loyalty and enthusiasm amongst customers. This is typically done through training, learning, coaching, observation, and feedback. The final step is to instill the idea of including the world. It creates the actions of going above and ended. Customer’s decisions are based on a five step process.
This process consists of problem recognition, information search, alternative evaluation, purchase decision, and post purchase behavior. Interactions with a company can be placed anywhere in steps two through four due to impact factors. These impact factors consist of past experiences, cognitive bias, individual differences, personal relevance, and escalation of commitment. Past results of a product will determine if the product will continue to be purchased. If the result was positive, then the action will be repeated. If the result was negative, then the action will be avoided in the future.
Cognitive bias consists of many factors. Belief bias is the overconfidence on prior knowledge. Hindsight bias is when one is ready to explain the inevitable. Omission bias is omitting any info that may be perceived as risky. Confirmation bias is that the customer observes what they expected. Individual differences are based on socioeconomic status, age, and cognitive abilities. The older generation may be more confident in decision making because they have more ability to apply strategy. The socioeconomic status is meaning that some may eve less access to education and resources so they are not informed enough to make a decision.
Personal relevance comes from a person feeling that their decision matters. When they feel this way, they are more likely to decide. They want to see the importance of their actions. Escalation of commitment is simply continued loyalty. Decisions, it’s time to investigate the effectiveness of the marketing. This is done by various investigation techniques. One way is through search engine optimization. This is the ability to gauge the company’s popularity as compared to other companies. It tracks how many times internet users have clicked on the links for the particular site.
Another option is through quarterly revenue. This compares revenue against marketing campaigns. This will inform you of what actually makes the product sell. Surveys are a basic way of questioning how people feel. Surveys are done in a variety of ways, but if sent via email, there are certain services that are able to track how many of the sent emails were opened. From that number, they can they track how many went into the website. All of the options for data collection are sent through a marketing decision purport system. This is a system that is used to interpret and evaluate data.