Write a marketing plan
Request PDF on ResearchGate | Relationship marketing: Strategic and tactical implications | Discusses the logic of the re-emerging relationship approach to. Gronroos, C. (1 ) 'Relationship marketing; strategic and tactical implications', Management Decisions, Gronroos, C. () 'Relationship approach to the. Relationship marketing: strategic and tactical implications. Author / Creator: Groenroos, C. Journal / Series: MANAGEMENT DECISION -LONDON THEN.
For example, you might aim to get ten new customers within the next 12 months. Marketing strategy for your marketing plan Your marketing plan is how you put your marketing strategy into practice. It should therefore be a practical reflection of your strategy. If you understand the market well, you can probably break it down into different segments - groups of similar customers. For example, you can break the business market down into businesses of the same sector and of a similar size.
For each segment, you need to look at what customers want, what you can offer and what the competition is like. You want to identify segments where you have a competitive advantage.
At the same time, you should assess whether you can expect high enough sales to make the segment worthwhile. Often, the most promising segments are those where you have existing customers. See what you can do to expand sales to these customers.
RELATIONSHIP MARKETING - /9 - University of Surrey
If you are targeting new customers, you need to be sure that you have the resources to reach them effectively. Once you have decided what your target market is, you also need to decide how you will position yourself in it.
For example, you might offer a high quality product at a premium price or a flexible local service. Some businesses try to build a strong brand and image to help them stand out. Whatever your strategy, you need to differentiate yourself from the competition to encourage customers to choose your business first. Plan your marketing tactics Once you have decided what your marketing objectives are, and your strategy for meeting them, you need to plan how you will make the strategy a reality.
Many businesses find it helpful to think in terms of the four Ps: Pricing - for example, you might aim simply to match the competition, or charge a premium price for a quality product and service. You might have to choose either to make relatively few high margin sales, or sell more but with lower unit profits.
Remember that some customers may seek a low price to meet their budgets, while others may view a low price as an indication of quality levels.
Relationship marketing : Strategic and tactical challenges for SMEs
Place - how and where you sell. This may include using different distribution channels. For example, you might sell over the Internet or sell through retailers. Promotion - how you reach your customers and potential customers.
For example, you might use advertising, PR, direct mail and personal selling. For a more comprehensive approach, you can extend this to seven Ps: People - for example, you need to ensure that your employees have the right training. Processes - the right processes will ensure that you offer a consistent service that suits your customers. Physical evidence - the appearance of your employees and premises can affect how customers see your business.
Even the quality of paperwork, such as invoices, makes a difference. Implementation of your marketing plan Your marketing plan must do more than just say what you want to happen. It must describe each step required to make sure that it happens. The plan should therefore include a schedule of key tasks. This sets out what will be done, and by when. Refer to the schedule as often as possible to avoid losing sight of your objectives under the daily workload.
It should also assess what resources you need. For example, you might need to think about what brochures you need, and whether they need to be available for digital distribution by email or from your website.
You might also need to look at how much time it takes to sell to customers and whether you have enough salespeople. The cost of everything in the plan needs to be included in a budget.
If your finances are limited, your plan will need to take that into account. Don't spread your marketing activities too thinly - it is better to pick a handful and make the most of them. You may also want to link your marketing budget to your sales forecast.
Control As well as setting out the schedule, the plan needs to say how it will be controlled. You need an individual who takes responsibility for pushing things along. A good schedule and budget should make it easy to monitor progress. When things fall behind schedule, or costs overrun, you need to be ready to do something about it and to adapt your plan accordingly.
From time to time, you need to stand back and ask whether the plan is working. What can you learn from your mistakes? How can you use what you know to make a better plan for the future? Another benefit of vertical integration is that it improves the exchange of information through the different stages of the production line.
Also if the business is not well organised and fully equipped and prepared the business will struggle using this strategy. There are also competitive disadvantages as well, which include; creates barriers for the business, and loses access to information from suppliers and distributors. The market leader dominates the market by objective measure of market share. Their overall posture is defensive because they have more to lose.
Market leaders may adopt unconventional or unexpected approaches to building growth and their tactical responses are likely to include: The market challenger holds the second highest market share in the category, following closely behind the dominant player.
Their market posture is generally offensive because they have less to lose and more to gain by taking risks.Relationship Marketing Strategy with Joanne Black
They will compete head to head with the market leader in an effort to grow market share. Their overall strategy is to gain market share through product, packaging and service innovations; new market development and redefinition of the to broaden its scope and their position within it.
Followers are generally content to play second fiddle. Their market posture is typically neutral. Their strategy is to maintain their market position by maintaining existing customers and capturing a fair share of any new segments. They tend to maintain profits by controlling costs.
The market nicher occupies a small niche in the market in order to avoid head to head competition. Their objective is to build strong ties with the customer base and develop strong loyalty with existing customers.
Their market posture is generally neutral. Their strategy is to develop and build the segment and protect it from erosion. Tactically, nichers are likely to improve the product or service offering, leverage cross-selling opportunities, offer value for money and build relationships through superior after sales service, service quality and other related value adding activities.
As the speed of change in the marketing environment quickens, time horizons are becoming shorter. Nevertheless, most firms carry out strategic planning every 3— 5 years and treat the process as a means of checking whether the company is on track to achieve its vision and mission. Strategies are broad in their scope in order to enable a firm to react to unforeseen developments while trying to keep focused on a specific pathway. A key aspect of marketing strategy is to keep marketing consistent with a company's overarching mission statement.
In addition, firms can conduct analyses of performance, customer analysis, competitor analysisand target market analysis. Market entry strategy Marketing strategies may differ depending on the unique situation of the individual business.
Write a marketing plan
According to Lieberman and Montgomery, every entrant into a market — whether it is new or not — is classified under a Market Pioneer, Close Follower or a Late follower  Pioneers[ edit ] Market pioneers are known to often open a new market to consumers based off a major innovation. Preemption of Assets can help gain an advantage through acquiring scarce assets within a certain market, allowing the first-mover to be able to have control of existing assets rather than those that are created through new technology.
By being a first entrant, it is easy to avoid higher switching costs compared to later entrants. For example, those who enter later would have to invest more expenditure in order to encourage customers away from early entrants.