Creating the Most Valuable Moment in Marketing

In today’s world, establishing bare business and selling is not enough. The competition is tough, and forming the unique marketing strategies is necessary to create the most valuable  moment in marketing. That means, the reaching the height of customer expectations by establishing valuable marketing strategies which create value in the minds of the customer. It is always desirable the in-depth study of the market in order to learn the competitors and overcome the challenges.

Why is it necessary to create value added marketing?

Marketing is the most valuable department in the company, as they are the prima facie people to get to know the market, customer’s needs and expectations. Accordingly, marketing strategies are formed and applied throughout the year. Adding value to the marketing means, putting the customer at first. As learnt in the school, apart from the general 4P’s of the marketing e.g Product, Price, Promotion and place there are also other types of value adding marketing strategies which allows companies to perform better than competitions. Following mentioned are the functional value added marketing strategies

A) Social value

Social value decides the measurement of how a customer is able to socialize in terms of product/ service being offered with other consumers. This can be decided upon engaging posts on social media, different advertisements made on online and offline media or consumer centric competitions for brand awareness.

B) Psychological value

This value, decides how much the customer is involved in the product/services by measuring the ability to express the customers. The psychological value helps companies to determine deciding factors while forming marketing strategies for various markets worldwide. If a customer is given a chance to provide feedback about the products, it creates area to improve themselves.

C) Economical value

Economical value is referred as the measurement between financial benefit received for both the parties. Meaning, the price of the product should be beneficial for the customer as well as the company. It should not be only for customer benefitted product, when company is facing losses and customer is saving on it, and vice versa.

D) Functional value

Functional value is, the functionality of the product for the consumer. For e.g., companies creating electronic devices but adding buttons just to give beaty to the product would not work. The product should be 100% functionable as well as economical.

Today, we live in a world where similar products are produced by many companies with more and more cheaper price. The first sight, coming to the customer’s mind is the price and then the product. The customer will naturally turn to cheaper products even it is use and throw. When start-up companies land their products in the market offering the same product with competitive price, the customer is attracted towards it. Once the company is pretty old player in the market it increases the rate of the products. On the other hand, the master players in the market, who are there since long ago, are affected due to pricing strategy. Therefore, understanding the customer and forming the strategies accordingly is most important in creating the most valuable moment in marketing. In this way, the customer engagement is on b better level, assuring, whatever the company offers, the customer is going to stick with the same one forever irrespective of the prices.

Conclusion

The competition in the world is increasing, as well as the expectations from the customers. Combining the above mentioned marketing values with the predetermined 4p’s is the important process in the life of a company. To sum-up, engaging the customers with the company through social media posts and other advertising mediums is important.

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