Success is the ultimate goal for any company or organization dealing in business. But achieving success has never been an easy task for any business. Therefore, business people have to carefully access their environment and make sure they lay down strategies and policies that are vital for the achievement of their goals. These businesses therefore identify their strengths, weaknesses, opportunities and threats. They then develop specific, measurable, achievable, realistic and time-based strategies within a stipulated period of time. This paper seeks to explain “FANTECK’s, a cloth selling Company, advertising strategy and how the strategies align with its marketing goals. Furthermore, the paper will explain how the effectiveness of advertisement can be measured. Other promotional strategies apart from advertising will be explored in this paper. Approaches to measure customer satisfaction will also be looked at in this paper. Finally suggestions on how to fill the gaps in customer experiences and expectations will also be proposed.
The achievement of a company’s goals is what is termed as success. Having goals also necessitates a road map of achieving those goals. “FANTECK” company like other companies has a number of marketing goals. One of the marketing goals is to enlarge its business’ market share. “FANTECK” Company plans to increase profit and to enlarge its functions and distribution thereby increasing its productivity. Moreover the company is looking forward to increase efficiency and provide better living standards to motivate her workers. Another marketing goal for “FANTECK” Company is improving its services and to provide excellent services to their customers. The company also seeks to gain a competitive edge in the market and increase its involvement in corporate social responsibility (Learner, 2007).
To achieve the above goals “FANTECK” Company has stipulated various advertising strategies. Despite the many strategies, the Company has two core strategies. The first one involves diversifying the methods of advertisement. In regard to this, the company’s seeks to have flyers with advertisements and company’s information distributed to as many people as possible. The mass media, that is radio and television, is also to be used extensively in advertising. “FANTECK” Company also seeks to intensify the use of the internet in advertising. Specifically the company will advertise its new improved easily accessible web site to customers.
The other core strategy that is to be used in the advertisement is improving the process of information dissemination to customers. The company seeks to inform its customers that the company is offering the best services to its customers. The company also seeks to inform its customers of her good employee remuneration and good working environment. The later information will help improve the Company’s public image. Lastly, the company will assert its concern of people’s social well-being by advertising its involvement in social responsibility (Learner, 2007).
When a company advertises its products, it is important for it to ascertain the effectiveness of the advertising methods used. Through measuring the effectiveness of the advertising methods used, a company will be able to make decisions. Therefore, the company will decide to continue with the same methods of advertisement or change them. However, measuring the effectiveness of the advertising methods is not easy. But there are methods of measuring this effectiveness. One way is by asking the customers how they learned of the existence of the company products and which advertisement method was used (Paul, 2007).
We can also question a sample of people for example after a roadside campaign or promotion. Another general method is determining the number of people the medium has reached. These people might have accessed the information through reading, listening or viewing. Keeping an eye on the number of people visiting the company’s web site and advertisement web page can also give us a clue on the effectiveness of using internet. This can be achieved only by setting up analytics before the web site is launched (Paul, 2007). The effectiveness of a certain advertising method is determined by comparing the number of people reached with the amount of money spent in making the advertisement.
Promotional strategies are very important for success of any business. This is especially because they increase sales which in turn boost profitability. Promotional strategies allows companies to concentrate its resources on specific promotions that have has greatest impact on sales and creation of a sustainable competitive advantage. Besides advertisement there are other methods of promotional strategy which leads to success in marketing or businesses. Market development strategy is another way a product or service can be promoted. This involves venturing into new regions that to had not been exploited prior. This new regions can be part of the country not exploited hitherto, new countries or continents (Learner, 2007).
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Another strategy is the product development strategy (Learner, 2007). This strategy makes use of innovation to improve the existing product in order to make it more appealing and suitable for the customer’s needs. This strategy can also mean developing new products which might be totally or slightly different from the initial ones. Another strategy is application of the social media strategy in promotion. This strategy can be applied by creating physical customer care services which will offer advisory services to the consumers. There are reasons for establishing such services. The main reason being that with the wide range of goods in the market customers need not only to be convinced on what to buy but also advised on what to buy. Moreover, making use of our customers as marketers can be the best strategy to employ. The customers are given the responsibility to look for other customers and are rewarded for any business they bring to the company (Learner, 2007).
One of the greatest advantages a company can have is to be able to be sustainable. Sustainability of a company can only be achieved through consumer satisfaction. It is therefore important for any organization to ascertain if her consumers are satisfied. There are many ways of measuring customer satisfaction. A popular way that people use to measure customer satisfaction is inquire from the customers how they perceive goods and services offered (Robert, 2006). A more conservative way is to hear how the consumer recommends the company’s goods and services to a friend. Interviews can also help in rating customer satisfaction. The interviews can be conducted over the phone or through one-on-one. Phone interactions between the company and its customers can also be monitored to reveal the quality of service offered. Mystery shopping and experience auditing can also be conducted to disclose the quality of service the consumers get. Performance analysis can be undertaken so as to ascertain the root causes of problems (Robert, 2006).
Having measured the consumer satisfaction, the gaps between consumer expectations and consumer experiences must be there. There are two likely results from such a research. One is that, consumers’ expectations were met and the second is that they were not. When consumers’ expectations are not met it is necessary to know the reasons why these expectations were not met. The causes for not fulfilling customers’ expectations can be revealed using methods such as performance analysis. The causes of the gap between consumer expectation and their experience can result from poor quality of the product. Worse still, it can be because of irrelevance of the products in the market. The former can be addressed by changing the quality of the products through innovation in order to make them better. The later would force the company to do away with its goods (Robert, 2006).