Wednesday, August 14, 2019

Buyer Decision Process And Three Time Zones Marketing Essay

Buyer Decision Process And Three Time Zones Marketing Essay Communication is not only important in our day to day life. It is very important in business situations as well. Marketing communication is an essential method when building relationships with customers. With the globalisation and many factors competition has increased. Therefore in order to attract customers communication or marketing communication is becoming one of key method and it is becoming a more important factor when deciding the success in businesses in the modern world. When analysing the provided business situation it can be clearly seen that this organisation has been considering more on communication mix strategies and decreasing the customer satisfaction or providing less attention to the satisfaction of customers for some time. Communication mix is a method which is used by all the 3 dominant business philosophies that is production philosophy, selling philosophy and marketing philosophy in order to communicate with customers. There are many methods/tools in the comm unication mix including, advertising, personal selling, sales promotions, publicity, instructional materials, etc. There are many objectives of external communications (generated inside the organisation), building awareness, communicating product benefits and advantages, providing information to assist in the decision making process of the customers, differentiate products and influence the purchase decision. But now he has realized that only concentrating on communication mix strategies is not enough. If the customers are not happy or satisfied the negative word of mouth that can spread through them not only can erode effectiveness of the communication mix but also decrease the future sales. Therefore it can be clearly seen that he has identified the communications generated outside the organisation those can be either word of mouth or other communications which can be spread using various Medias including recent electronic variations can have an influence over marketing mix strate gies. Further it has mentioned that although majority of customers are satisfied, negative word of mouth generated by dissatisfied customers can damage the effectiveness of both communication mix and positive word of mouth. When customers are buying products once or twice in their life time then the word of mouth communication is more important because although the repeat purchase is negligible they tend to spread good or bad about your products and especially when they had received poor experience from specific products or service they tend to alert and warn their associates about those products. Another important factor here is the target market of this home building organisation is first home buyers. Therefore in this business situation when someone builds their house for the first time due to this is high involvement decision (high financial risk, social risk, etc.) customers tend to take advices from their peers. Further they may expect more from their first home because it is a big investment in their life time whereas building another house is a rare situation. Today with the development of technologies the power of the word of mouth communication has increased more. Various electronic media have immerged supporting the spread of word of mouth. For an example with through Skype anyone having an internet connection can get free video or voice calls freely. With social networks like Facebook, MySpace people are always sharing and connected to each other. Another emerging communication through internet is web blogs or forums. Through those kinds of methods people share their knowledge and experiences with all most all the people connected trough internet. Therefore if someone wants to get information about particular thing they can do it immediately and without time and space barriers.

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