Peter and Harvey have ambitious plans to grow the business - Essay Example

Peter and Harvey have ambitious plans to grow the business. As an Independent Marketing Consultant, you have been appointed to compile a report that answers the following questions Table of Contents Introduction 3 Discussion 3 Marketing Mix 3 Relationship variable and Business networks 6 Structuring the sales force 8 Conclusion 10 References 11 Introduction In this age, competitiveness is witnessed in each and every segment. As a result, developing a dominant position is extremely difficult in the market among other rival players. However, it might be possible only if the entrepreneurs desire to maintain a good relationship with its clients or customers (Bradley, 2007, pp. 234-245). This is because; it is the relationship marketing that helps a new entrant (SPSL) to enhance its image and popularity in the market that may enhance its portfolio and reliability. Moreover, relationship marketing also acts as a weapon to enhance the profitability and productivity of the organization thereby amplifying its equity and market share to a significant extent as compared to others. Similarly, in case of SPSL, Peter and Harvey offered high concentration over relationship marketing that may amplify its total sale and revenues. This strategy might amplify the level of sustainability in the market among other existing rivals (Beall, 2010, pp. 123-134). Discussion Marketing Mix In this age, awareness is the most essential requirement of any business organization. Only then, it might improve its image and demand of product lines within the minds of the customers that may amplify its reputation and profitability. However, awareness might be enhanced only with the help of promotion. Promotion might take place through personal selling process (Bingham & et.al. 2005, pp. 245-256). It is process in which, an organization or entrepreneur recruits a wide range of sales forces or saes persons so as to sell its products. Such type of selling comprises of conversations that may take place either through telephone or face-to-face discussions. By doing so, the level of demand and awareness of the product lines in the market might be enhanced resulting in amplification of the productivity and total revenue of the organization. Other than this, personal selling or sales force is also beneficial in certain other ways, mentioned below: Personal selling helps to analyse and identify the attitude and temperament of the prospective buyers of the product. Along with this, it also helps to understand their desired needs and requirements so that the organization might implement them in the future product lines. By doing so, the level of dependency and equity of the product might get enhanced resulting in amplification of its demand in the market among other rival players (Gupta, 2004, pp. 887-897). Personal selling also presents the opportunity to identify and evaluate the position of the brand and its product lines in the market among other existing rival players. So that, the organization might devise a strategy in order to amplify the total sales and profitability in the market (Guillén & García-Canal, 2012, pp. 667-689). Personal selling also helps to develop an interpersonal relationship with the customers thereby amplifying the intensity of sales and reducing the underlining defects. This might prove effective for the organization to enhance its strengths and opportunities that may decline its threats (Grant, 2005, pp. 775-785). Personal selling individual also assures or convinces the customers also the underlining benefits and positive effects of the product lines. Along with this, it also helps in resolving varied types of queries and problems of the customers that improves the brand value and distinctiveness of the organization or product lines. Hence, due to these above mentioned advantages, maximum extent of the organizations, operating in any segment desire to implement, sales force as a part of their promotional policy or strategy (Ellis, 2011, pp. 556-567). Keeping these facts in mind, Peter and Harvey decided to implement the strategy of sales force in order to amplify the total sales and profit margin of the organization as compared to others. This strategy might enhance the level of awareness and benefits of the commercial plumbing services of SPSL within the minds of the customers. As a result, the range of customers of SPSL might get enhanced resulting in amplification of the reputation and brand image in the market of Manchester just similar to South London. Apart from personal selling, there exists numerous other forms of selling such as direct selling, cold calling, need based selling, relationship selling, guaranteed selling and many others. The prime advantage of direct selling is that, the sales person might directly converse with the customers and understand his or her requirements. However, at times, the customer may not prefer to purchase the product or service, due to un-advanced features. On the other hand, in case of cold calling, the sales individual makes the call with an idea that, the customer might become prospective but the call also may not offer fruitful results. This is because; the customer is approached through telephone and may not be conversed directly. This is considered as one of the most important disadvantage that reduced the scope of the success of the cold call. Other than this, relationship selling is entirely dependent over the interpersonal relationship of the customer with the sales person or the entrepreneur. However, if the relationship is good, then it may lead to sale of the products or services but due to lack of requirement, relationship marketing also gets failed in numerous cases. Hence, it might be stated that personal selling is the best method of selling a product or service in this age, as it takes place only with the help of prospective leads. Moreover, in case of SPSL, personal selling is the best approach as it offers a range of plumbing services such as leak repair, leak detection, drain cleaning, toilet repair, radiators, general maintenance and many others. However, if the lead is not accurate, then the labours presented to the destination might get demoralised or de-motivated. As a result of which, the organization of SPSL might lose the highly skilled individual that may hinder its growth and profitability among others. Therefore, it might be clearly depicted that personal selling is considered as the best one for the organization of SPSL in this age of cut-throat competition. Relationship variable and Business networks In today’s cut-throat market, the customers act as a catalyst in enhancing the sustainability and competitive advantage of a firm. This means that the organization might try to maintain good relationship with the customers so as to enhance their portfolio and reliability in the market (ESOMAR. 2008, pp. 446-467). As a result, the organization of SPSL tries to offer high concentration over the relationship with its clients. This is because; relationship might prove prospective for the organization thereby offering the facility of partnerships, joint ventures, strategic alliances or mergers. Due to which, the organization of SPSL might enhance its business transactions and operations in the new region of Manchester among the other existing rival players. Moreover, business to business relationship is extremely complex but it might offer effective or dynamic results, if maintained for a long-period of time. Then, any sort of issues may be easily handed with the help of effective cooperation of other business entrepreneurs. Other than this, business relationships also prove effective to tackle complex situations. This may be handled by maintaining a symmetry situation, in which, both the business individual comprise of resources and capabilities to tackle the uncertain situations. Due to which, the organization might easily maintain its operations and functions thereby amplifying its strengths and opportunities in an efficient way as compared to many other existing rival players. Moreover, such to the presence of such type of relationships, the newly entrant organization might easily expand its image and reliability within the minds of the customers that may amplify its sale and profit margin to a significant extent. Therefore, due to the presence of such type of relationship, the new entrant (SPSL) might easily position itself in the new market thereby reducing its threats and upcoming challenges. Apart from this, due to the presence of effective relationships, the level of business networks also gets enhanced that may improve its consistency and market share. Not only this, due to mutual cooperation and coordination among the members, varied types of information and ideas gets shared with one-another that may amplify the rate of profitability and total revenue of the new entrant (SPSL). Other than this, due to the effective network and relationship with a successful business entrepreneur, the distinctiveness and trust of the new entrant (SPSL) also gets enhanced. This might prove extremely beneficial for the new entrant (SPSL) to improve its uniqueness and dependency in the market of Manchester as compared to many other rival players. This might be possible only if the new entrant (SPSL) becomes able to know the rate of the suppliers, likeness and preferences of the customers, competitive rivalry among the existing rival players, bargaining power of the buyers etc from the other business entrepreneurs, prior starting its operations (Bagdoniene & Zilione, 2013). Only then, the organization of SPSL might easily expand its operations and functions that may improve its brand value and market value, in spite of extreme rivalry. Additionally, process dimension of relationships also helps a new entrant (SPSL) to improve the social interaction and communication with the other business entrepreneurs of the markets that may enhance the level of performance and productivity of the organization (Drummond & Ensor, 2006, pp. 334-356). Along with this, such type of mutual coordination also helps to reduce the level of risks and business challenges to a significant extent as compared to many other rival players. Thus, it helps to expand the networks of the business in an effective way that may increase the prosperity and profitability of the organization. Finally, value dimensions of business might increase the efficiency and effectiveness of the business by attainment of varied types of new ideas ad knowledge’s. This might prove effective for the new entrant (SPSL) to introduce varied types of inventive services and facilities so as to retain the customers for a longer period of time thereby reducing the rate of switchover costs. This is extremely essential for an organization in this age of competitiveness in order to amplify its portfolio and brand image in the market among other existing contenders. Therefore, it might be clearly stated that the relationship of B2B are extremely complicated and multidimensional but it offers effective results in future era. Perfect relationship with the suppliers, partners, investors and trade association members might enhance the operations of the new entrant (SPSL) in the market of Manchester thereby reducing any sort of risks. Moreover, effective or good business relationships also help to enhance the networks or alliance of the organization that may increase its competitiveness and prosperity in the market among many other existing rival players. Thus, due to these above mentioned reasons, the organization of SPSL tried to offer high concentration over these business relationships at the time of positioning itself in the market region of Manchester among others. Hence B2B relationships act as a catalyst in amplifying the distinctiveness and equity in a new market for a new entrant like SPSL. Structuring the sales force In order to attain sustainability and competitive advantage, business relationship is the most essential weapon. This is because, it acts as the catalyst that improves the inner strengths and reduces the threats and risks. However, the tactics and strategies of relationship rest over various variables or features in case of B2B and B2C marketing process. In case of B2B marketing, the parameter of relationship rests dimensions of time, process, and structures and values whereas in case of B2C, the marketing phenomenon rests on personalization, communication, customer satisfaction, customer loyalty and reliability. This means, in case of B2B marketing, sale of the products and services takes place mainly due to long term relationships (Halimi & et.al. 2011). A long term relationship enhances the level of experiences, trust and commitment of the customers that increases the profitability and total revenue of the organization. On the other hand, in case of B2C marketing, sales takes place on the basis of personalization. The term personalization means, gathering information about the preferences and likings of the customers, so as to implement those features within the products and services. This might prove effective for the organization in enhancing its total sale and efficiency of the organization in the market among many other contenders. Apart from this, in case of B2B relationships, the total sale of the products and services takes place mainly process dimensions or cooperation, personal relationships etc. Similarly, in case of B2C marketing, sales takes place mainly through face to face communication with the customers (Hill, 2010, pp. 912-923). Only then, the level of reliability and loyalty of the customers over the brand or product lines might get enhanced resulting in amplification of its brand value and image to a certain extent among others. Apart from this, in B2B marketing, sustainability and competitive position might be retained only if value dimension is maintained effectively. This means, the profitability, efficiency and share of business might be enhanced only if the demands and requirements of the customers are satisfied efficiently. Only then, the customers might be retained within the organization for longer period of time thereby reducing the rate of switch over costs (Johnson & et.al. 2011, pp. 156-178). Similarly, in B2C, marketing and retention takes place mainly due to customer satisfaction. If the customers of the organization are entirely satisfied with the products and services, then their rate of switch over costs might be reduced that may amplify its productivity and reliability. Hence, it might be clearly stated that, relationship is the best way to amplify the loyalty and trust of the customers that may increase its dependency and uniqueness over the brand. Thus, SPSL need to keep in mind, all the above mentioned factors at the time of B2B and B2C marketing (Johansson, 1997, pp. 912-924). Therefore, it might be stated that, marketing of the services of SPSL might prove effective if the above mentioned value, process, time dimension are offered high concentration. Along with this, the organization of SPSL might also prove effective, only if proper communication and personalization is maintained with the customers. However, if the organization of SPSL always tried to implement the features as pert the requirements of the customers, then it may not prove effective in long run. This is because; at-times, the inventive services may not be liked or preferred by the customers and the rate of total sales and profitability might get reduced to a significant extent as compared to others (Kolb, 2008, pp. 245-256). Thus, it might be stated from the above mentioned points, that communication or personalization is extremely essential for sales. However, this might be attained only with the help of proper relationship with the customers. Therefore, relationship is the only way that may increase the productivity and efficiency of the organization of SPSL in the market of Manchester as compared to others. Conclusion Conclusively, it might be stated that, relationship marketing is the prime essence of any organization in this age of aggressiveness and cut-throat competition. This is because; relationship leads to improvement of the reliability and dependency of the customers that may increase the profitability of the organization of SPSL. Other than this, dimensions of value and time helps in improvement of the consistency and productivity of the products and services of the organization that may enhance its position and competitiveness in the market of Manchester among many other rival players. So, relationship is extremely essential for SPSL. References Beall, A, E. 2010. Strategic Market Research: A Guide to Conducting Research to solve problems. Boston: Harvard Business School Press. Bradley, N. 2007. Marketing Research: Tools & Techniques. New York: McGraw-Hill. Bingham, F.G., & et.al. 2005. Business Marketing. 3rd ed. Boston: McGraw-Hill. Bagdoniene, L. & Zilione, R. 2013. . 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International Business Mc Graw Hill 8th International Edition. New York: McGraw-Hill. Johnson, G. & et.al. 2011. Exploring Strategy: Text and Cases. (9th edn). London: Harlow Pearson Education Limited. P: 115. Johansson, J, K. 1997. “Global Marketing: Foreign Entry, Local Marketing, and Global Management”. New York: McGraw-Hill. Kolb, B. 2008. Marketing Research: A Practical Approach. London: Sage. Read More