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Unit 41 Contemporary Issues In Marketing Management
The contemporary issues In marketing management is prepared in relation with contemporary issues in marketing management in which information related with the issues that organisations faces in present scenario will be discussed. This marketing management will provide information related with the marketing strategies that organisations should adopt and role of various pressure groups in managing the ethical practices in the market. This marketing management will help the organisation to obtain good marketing practices and will help them to sustain in the market.
The process with the help of which knowledge in the organisation is being created, used shared and managed is known as knowledge management. It is the process with the effect of which organisation can manage its process of knowledge sharing and could help the employee relations to develop their skills so as to manage the work process of the workplace. Concept of knowledge management work s on various components these components are:
Collaboration and ability to connect individuals and groups: According to this component of knowledge management, effective knowledge management system of the organisation helps in ensuring that individuals and groups of the organisation could remain connected and manage the coordination according to the requirement of the workplace (Kerrane, et. al., 2014). It is necessary that Samsung should prefer to gather the data from internet, various media, should use internal data management system, and should try to remain socialise with the peer members and co workers so that information could get shared in a proper manner.
Nature of expertise and access to experts: There are various organisations that ensure that team mixing and job rotation could be done so that knowledge could be transferred across the organisation and workforce working in it. With the help of such activity new approach could be shared at the workplace which would lead to bring new and innovative ideas at the workplace.
Knowledge networking connects groups of people with systems and applications:Samsung should try to use knowledge networking so that groups working at the workplace could connect. Connecting with the knowledge networking system is one of the aspects that could ensure that people working at the workplace could stay connected and could manage the work of the organisation (Salman, 2014).
Knowledge management helps in fulfilling the needs and wants of the customers: With the help of market survey organisation could gather the information related with the needs and ants of the customers and the expectations they have with the product that is being offered by the company. This will help in making changes in the products and delivering the desired product to the target customers.
These are some of the components of knowledge management that are required at the workplace. Somewhere knowledge management of Samsung will help it in managing the relationship. It is the process with the effect of which relationship between the workforce, and management working in Samsung will become stronger and they will be able to work more effectively. Knowledge sharing is the process which ensures that people at the workplace could have effective set of knowledge so as to understand the importance of working together in the organisation and also building customer relationship with the customers and peer members. People having effective relationship at the workplace could work more effectively then the people working individual and same is with the customers (McEachern, et. al., 2012). If effective set of relationship will be build among the customers and organisation then they will get attracted towards the organisation and will try to remain attached with the organisation.
Information and Communication Technology is a term that holds various aspects of communication for the organisation. It is necessary that Samsung should have effective Information and Communication Technology so as to ensure that flow of information could be managed effectively at the workplace. ICT include various technological communication devices so as to manage the communication system. These technical devices are radio, television, cellular phones, computer and network and the hardware and software used for networking, and satellite system.
Customer relationship management is the process with the help of which company could manage its communication with its present and future customers. There are various aspects that are included in customer relationship management they are technological use, automation, sale synchronisation, marketing, customer services and providing technical support (Mpinganjira, 2014). Information and communication technology helps in building effective customer relationship in present scenario because it avails social media with the effect of which Samsung could manage its communication as well as marketing process.
Another aspect is television, it helps the customers to gain information related with the product that will be availed to the target customers. Samsung will be able to avail information related with its product to the target customers and will be able to build effective set of relationship with the customers present in the market. With the help of Information and Communication Technology, Samsung will be able to ensure that more and more information related with its products could be spread in the market so that effective set of relationship could be build with the target customers. This will help the organisation to attain competitive advantage in the market (Kumar, et. al., 2014). Samsung keeps the track record of the vintage customers who regularly visits Samsung to buy its products and provide them exclusive offers. It is because of Information and communication technologies with the effect of which Samsung tracks the information related with the customers and help in availing them the offers which attracts them to purchase the products of Samsung.
There are various benefits that will be availed to the Samsung with the help of corporate relationship management:
Corporate relationship management will help Samsung in improving relationship with the customers available in the market. It helps in providing improved customer experience with the effect of which Samsung will be able to increase its sale and will be able to make effective set of revenue. It will help Samsung to gather effective set of information related with the sale pipeline and the existing customers available in the market. It will help the Samsung to target the customers who have the great potential for the future sale (Jones, 2013). With the help of Customer relationship management, Samsung will be able to provide better services to the customers with the effect of which organisation will ensures that its customer could remain attached with the company. Customer relationship management will help Samsung to improve customer insights, it helps in building buyer personas and helps in knowing the customers better which helps in knowing the customer in better manner. It helps in tracking the customer purchase pattern and preferences; it helps in improving the customer services and helps in meeting the changing needs and requirements of the customers available in the market.
It could be recommended that Samsung should use appropriate customer relationship techniques so as to make sure that it could manage its position in the market. Customer relationship management will help Samsung to attain competitive positioning in the market and will help in generating effective set of revenue (Cacija, 2013). Samsung should try to provide after sale services to the customers, it should avail online customer care centres so that people could get the solutions to the queries that they have related with the products and services of the company. Samsung should use personal selling technique so that people willing to purchase its products and services could gain proper set of knowledge regarding the product they are willing to purchase. Personal selling will help in building effective set of trust with the products and services that are availed with the organisation. Effective set of advertising will also help Samsung; it should promote its products on social networking sites and television so that effective set of information could be spread in the target public and trust could be build among the people available in the market (Radosavljevic, 2015).
Stakeholder’s analysis is a most important contract law with every organisation. Different types of organisation have different type of stakeholders for which it is necessary that analysis should be done by the organisation as fulfilling and managing the needs of the stakeholders will help the organisation to manage their workprocess.
Stakeholder Analysis for American Red Cross and World Vision: For American Red Cross and World Vision there are various stakeholders available for which it becomes necessary that their needs should be met by the organisation. It is necessary that organisation should try to understand the needs and wants of the stakeholders attached with it. There are certain stakeholders attached with American Red Cross and World Vision for it becomes necessary that their needs should be met. There are several stakeholders who fall in this category for a private sector firm these are government, stakeholders, suppliers and the employees. These are the stakeholders for it becomes necessary that organisation should meet their needs (Kerrane, et. al., 2014). Another category comes of the stakeholders who are the key players of the company. These are the stakeholders which plays a vital role for the company which consists of government and the customers. It is necessary that organisation should ensure that all the policies should be followed and the customers should be availed the quality product (Suki, 2011). There are certain stakeholders for whom the consideration should be shown by the organisation. There are certain set of customers available in the market which requires special consideration these stakeholders are creditors of the company and the society in which American Red Cross and World Vision is availing its products and services. Another stakeholder occurs in the category of least important list. Although all the stakeholders are equally important for the company and it becomes the responsibility of American Red Cross and World Vision to avail the quality service to the stakeholders attached with the company. Certain stakeholders that fall in the category of least important list are managers and owners. It is because they are the key players of the company they do not require any special consideration. These are the stakeholder which enjoys the benefits of the company and manages all the work on their own (Kerrane, et. al., 2014).
Coming to the government organisations,government organisations are the organisations that work for the benefits of the customers available in the market. These are the organisations which focuses less upon the benefits and works for the welfare of the economy as well as for the people available in the market. Government organisations have to meet the need of the people available in the market which are the customers of the organisation and works to meet the needs of the society or the country in which it is working (Salman, 2014). Other aspects are the key players, key players for the government organisations are the owner of the organisation and the government. They ensure that they should avail all type of benefits to the target population available in the market and ensures that fail deals could be formulated in the market. Stakeholders that are to be taken into consideration by the government organisation are the customers and suppliers as they are the people who help the organisation to sustain in the market and to work on the path to help the people present in the market (McEachern, et. al., 2012). Least important stakeholders are the competitors of the organisation. Government organisations do not focus much upon the competitors available in the market because they use to provide the product at the price which suits the pocket of the customers which cannot be availed by the competitors.
Not for profit organisations are the organisations which work for the welfare of the people available in the organisation. These are the organisation which does not work for any type of profit and works to provide the products and services to the target customers so as to provide all the possible benefits to them. Nature of the relationship with customers that is shared by American Red Cross and NHS is more of a kind of providing best possible benefits to the customers in need. These organisations prefer to ensure the following aspects:
Comparison between the methods used for the marketing within public, private and voluntary sectors:
Private sector companies are the companies which are driven by either single individual or group of people
Public sector companies are run by the government. All the aspects of the government company are managed by the governing bodies only.
Companies in the voluntary sectors are managed certain groups so as to provide maximum benefits to the customers in need.
Aim of the private sector firms like Samsung is to earn profit and to attain competitive advantage in the market
NHS is a government organisation which ensures to provide effective set of public services to the target people.
Non profit organisations like Word Vision and American Red Cross do not work for the profit.
Samsung uses AIDA model so as to analyse the needs and wants of the people available in the market. With the help of AIDA model Samsung prefer to attract the attention of the customers by using effective promotional techniques, use to gain the interest of the people by availing best possible offers to them, analyse the desire of the people so that it could provide the product accordingly and launch the products according to the current demands in the market.
NHS uses various advertising methods so as to spread the information regarding its services in the target market. NHS has incorporated the latest ‘Change4life’ which is a system provided by DOH so as to help the people of England to fight with obesity (Kumar, et. al., 2014). To attract the interest of maximum population NHS prefer to provide various advertisements so that maximum number of people could use the services availed by the company.
Market segmentation is another marketing technique that is being used by NHS so as to provide effective services to the target customers (Jones, 2013).
NGO’s like American Red Cross and World Vision requires that various private firms should get attracted so as to provide funds to the organisation which could be used in helping the people available in the market. American Red Cross as well as World Vision uses targeting technique in which people who are in need of the services are targeted and provided effective set of services and AIDA is another technique that is being used by both the Not for Profit Organisations.
Virtual organisations are the organisations which prefer to outsource most of their functions of the business. There are certain functions that are kept with the company these functions are the name and the arrangements of settlements between the partners. There are certain issues that are faced by these organisations. Marketing principle in the other parts of the countries is a biggest issue for the companies like Amazon. Political frameworks and other government issues hinder in the process of marketing of Samsung. Culture is another issue that affect the marketing of Amazon in other countries. There are various countries which follows different type of culture and trend which affect the marketing of the business in other countries (Cacija, 2013). For Example: people in India do not prefer to purchase products online because they do not have the culture to purchase the products and services from the online sites or we can say they trust less on the online sites. Hence, to ensure that more people could get attracted towards the products and services of Amazon, it will have to understand the culture of different countries and will have to work accordingly. Competition in other countries is another aspect that affects the marketing of Amazon. Marketing of Amazon gets affected when its competitors uses more effective marketing tactics and affects its market and the customers attached with it.
Earlier, the purpose of 4 p’s have already been discussed but in order to specify the extent of decision making that ensures rights decisions to be taken for that there is a need to discuss the extended version of marketing mix and i.e. people, physical evidence and process. By discussing this version of the marketing mix will be helpful to improve the efficiency of the Thomas Cook.
People – people involves consumers, employees and their other consumers into the organization that can be affected by the service delivery and satisfaction of customers. For instance, if the employees of the Thomas cook being rude while interacting with its customers then that will ruin the image of the company because this is the first experience of the customers with the organization and how employees will behave to the customers their perception will be like that. And then customers labelled that organization as bad organization on the basis of their behaviour while interacting (Radosavljevic, 2015). So, it is important for the organization to hire right people who can increase the image of the company by being polite and soft spoken to their customers.
Physical evidence – physical evidence shows the overall environment of organization that involves service environment, the ambience, the decoration, presentations, equipments which are being used, food, proper uniform, etc. that means everything which are related to the organization should be organize and proper so that they could be able to attract as much customers as it wants. As we all know that first impression is the last impression so what customers see as entering into the organization will be remembered by them and that should be attractive.
Process –process determines the present situation of the surroundings. It involves the operation system that is being used by the organization (Suki, 2010). This is the process by which customers could get the services accordingly and could get a better experience. By these extended marketing mix Thomas cook can be able to determine the current issues of the company and will be that much capable to handle all those issues without any hesitance.
An organization could increase the value of itself and its customers by perpetually development and assessment of desires and needs of the consumers. There are various viewpoints of the products /service mix on that basis Thomas Cook can enhance the customers and organizational value.
Customer’s satisfaction is the biggest concern that is to be worried about. Organizations have to modify their services and facilities according to the evolving product /service mix.
There are various challenges that are faced by the travel and tourism industry such as lack of quality, lack of services, difficulty in services communication, how to set the pricing to get more customers, etc. These challenges can be a barrier to any organization so, it is obvious to remove or eliminate these challenges to get more profit. Here are some solutions that can be used to remove these challenges and provide better experience to the customers.
Information technology has become the vital part for all organizations in today’s scenario. If any organization combines its services with the information technology is capable to provide better and effective services to their customers. This task is all about the services that are provided by the Thomas cook by using information technology. IT has an important role in the travel and tourism sector in current scenario that the customers is so advanced as they like to do all the activities like booking of hotel, trains, planes, etc. online. Both customers and organization can have benefits from IT through various offers, discounts, etc (Kerrane, et. al., 2014).
These are some Technologies that are used by the Thomas cook to make customers experience better.
Computer system – Thomas cook uses computer system to interconnect with its various customers. Customers can see the latest discount and offers on their computer screen before booking for a reservation. It is also helpful to keep the records of their permanent customers and make them aware about the latest schemes and offers through email or messages.
System of online booking –because the people of this generation have become digital people, they book their tickets of bus, train, plane, etc online before going anywhere. Customers can also compare the prices, discount and offers provided by the different hotels online and book their best deal accordingly. Apart from Thomas cook there are many more organizations who provides this service like Tripadvisor, make my trip, etc. This system is very useful for the customers to get connected with the best deals and offers (Salman, 2014).
Internet- internet has already changed the face of the current scenario as it is also very useful in the travel and tourism industry. To go through the organization’s website customers can get an idea about what services are to be provided by a particular tourism industry and on that basis they make their decision. So, Thomas cook needs to make an attractive and eye catching websites on which the information regarding recent deals and offers will be available to attract more customers.
There are certain morals that are connected with the market as well as with the organisation these morals are known as business ethics. There are certain ethics and social concerns that are attached with every marketer so as to ensure that the marketing which is done by the marketer should not affect the target population. There are certain ethical issues that are attached with the marketer of Thomas Cook they are:
Corporate Social Responsibility CSR is the term that is directly related with the responsibilities that organisations present in the market have towards the society in which it is doing the business. There are various responsibilities that Thomas Cook has towards the society and the people available in the society. Organisation will have to make sure that people in the society should not get affected with any of the process of the business and should try to help in the growth of the society. There are certain key components that are included in CSR they are:
There are certain pressure groups that are indulged in the activity of influencing ethical and social marketing policies. Certain pressure groups that influence ethical and social marketing policies for Thomas Cook are government, Ministry of travel and tourism, and various not for profit organisation (Jones, 2013). Government develop various legal and regulatory frameworks in relation with the travel and tourism companies so as to ensure that people coming to enjoy the services should get proper and fair deals because it help in building good image of the country. It is necessary that all the legal and regulatory frameworks should be followed by Thomas Cook so as to ensure that it could stable in the market and do its business in a proper manner (Cacija, 2013). Not for profit organisations ensures that people in need could get proper services related with travel and tourism. These are the pressure groups that help the people in need and ensure that organisations like Thomas Cook should give their contribution in helping the people in need and help them to grow and develop.
Publish and broadcast media plays a very vital role in influencing ethical and social marketing policies. It is the means with the effect of which people present in the market could gain effective set of information related with the various aspects related with the services. Now a day any kind of information could be gained from the published or broadcast media with the effect of which fair deals could be done in the market. Thomas Cook could promote its price and services with the help of published as well as broadcast media and could provide the information related with the ethical aspects that are followed by the company. Such type of activities helps in attracting the people towards the organisation and helps in attaining sustainability. Published and broadcast media ensures that the people available in the market could fight for the right and ensures that they should get what they pay for (Radosavljevic, 2015). Media provides information related with various unethical marketing practices which could affect the psychology of the customers available in the market. It keeps eye on the marketing practices of the companies available in the market. Media ensures that companies should provide the product which is shown to the customers. It also keeps eye on the price of the products whether they match with the price shown to the customers while marketing.
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It could be said that there are various issues related with the marketing in present scenario. Hence, it becomes necessary that every organisation should try to indulge in the ethical practices and should try to provide fair deal in the market with the effect of which it will be able to develop a positive image in the market and will be able to attract effective number of customers towards its services and products.
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