I would like to take this opportunity to acknowledge the invaluable assistance and support from our company’s entire stakeholder they include various investors, proprietors, clients, and the government. Our company (The Shop Body) has done pretty well this year having had an increase of profits; our company specializes in boutique products. Employees of our esteemed company have also been very instrumental in the company’s success. However the increases of our profits were not up to our expectations, this does not mean we are to stop here but rather we will continue to rise as time flies.
Many companies have collapsed due to poor marketing techniques. These bad marketing techniques include poor promotion of products, recruitment employees who do not have marketing skills, poor placing, and poor packaging among others. The purpose of this study is to find the impact of these poor marketing techniques, on the overall performance of the organization as a whole. The research found out that a number of organizations use traditional ways of marketing which led to collapse or near collapse. The research therefore concluded that modern marketing techniques to be used for any business to succeed.
There are several marketing techniques that can be used to be able to attain maximum profits for our prestigious company and this will include the 4ps (Price, promotion, place, product).
For any company to succeed in any business, pricing is a very important element especially those customers who are price sensitive, Marketing segmentation is also very important in that the organization divides its market into segments according to there buying capability based on their level of income. The product should price at a lower price if the consumers’ income is low unlike those consumers who have a high income which the pricing will be relatively higher.
The term promotion means those marketing activities other than personal selling, advertising and publicity, that stimulate consumer purchasing and dealers effectiveness, such as displays, shows, and exhibitions, demonstrations and various non-recurrent selling efforts not in the ordinary routine.
The term product means anything that is offered to the customers for acquisition or purchase. since we deal with boutique shop our products are of a very high standards since we sell the products which go with the fashion, We highly insist on quality of our products which is the selling point of our products, also our company is very innovative to make products which fit the different segments of our customers.
This is the route followed by the product as it moves from the producer to the user, our distribution channels are very efficient so that the product is brought near the consumer so that it is available to the consume whenever the need arises. There are factors to be considered when selecting channels of distribution, customer characteristics, product characteristics, company characteristics, middlemen characteristics, competitive characteristics and environmental characteristics.
Other techniques which increase the sales and profits are;
This is the use of warlike techniques in marketing so as to be able to achieve success in sales.
A brand is a type of a product made by a particular company. Binding is pad zing and presenting of a product distinctively from other products of some category.
This is whereby a company’s promotional efforts of its goods are focused on the consumers. It focuses on their needs and their satisfaction.
Whereby an organization strategically places itself in a market where it is totally accessible by client. Who may be looking for the same products?
The techniques are crucial in helping The Body shop to achieve its main objective which is to maximize sales, it was found that by proper pricing , promotion, and efficient distribution channels, the sales will increase and then company will increase its profits more that what it is making at present
Market segmentation; ensures the market of is divided into parts so as to easily access them, mainly done by splitting peoples’ ages’ gender and their income.
Warfare based: techniques will ensure the company applies military tactics which yield success. However, this does not mean that employees have to undergo strenuous labor but rather being able to counter rival techniques knowing their weak areas. Also meaning striking when least expected. For example launching a new product from The Body Shop all over a sudden to capture the market unwares.
Innovation: ensure that The Body Shop comes up with new improved ways of maximizing sales. This is meant to put a boost on the company’s profit since weakness of previous strategies will be stumped out.
A carrying out the survey and analyzing the findings we found that for any business to succeed and to maintain continuous growth of the business organization it was found that marketing techniques are very necessary ,Through marketing techniques our organization has been able to maintain its growth,
For our organization to increase its market share employees should be trained on marketing techniques so that there can have skills on how to handle their customers, this will enable the organization maximize its profits and explore new markets for its products
Marketing techniques are used to help a company to serve and satisfy its customers and eventually lead to increase in profits through sales maximization, and by improving of techniques.
1)Francis.N.K, Fundamental of marketing (1988)