Kotler and Lee also discuss aspects that can be used to promote social marketing by the corporate world to ensure that social marketing works for them. These include their philanthropy, business exercises that are socially responsible and promotions geared towards causes. Research into marketing theories that can fit into social marketing needs to be studied to find out how theories and principle in commercial marketing can improve social marketing. Without improving the delivery of social marketing it will continue to fail in garnering the kind of success and progress that commercial marketing has earned.
Social marketing has come a long way. It needs to fully utilize the principles of marketing that have been found to reach markets. Free Essays Marketing Social Marketing. These include their philanthropy, business exercises that are socially responsible and promotions geared towards causes Research into marketing theories that can fit into social marketing needs to be studied to find out how theories and principle in commercial marketing can improve social marketing.
Chat with us live. Marketing Strategies of China Shipping Company. Improved customer service will also help in the battle to turn Best Buy stores into more of an asset instead of a liability.
Customers are testing products in Best Buy stores, and asking employees questions about them but then ultimately going to an online competitor to make their purchase for a cheaper price.
Providing employees with more customer service training may help reduce the threat of losing sales to online-only competitors Katsenelson, In addition to improving customer service at Best Buy the company should also focus on reinventing their customer rewards program. By creating a solid rewards program and promoting it the company could encourage more repeat business, and build a more loyal customer base.
This industry is also characterized by intense competition, where many different retailers are offering the same products, thus making price one of the main motivators for customers.
When it comes to appliances Best Buy also competes with home-improvement superstores such as Home Depot and Lowes. In an industry that is driven mostly by price companies will need to discover ways to set themselves apart from the competition in an effort to gain market share. Based on the company information for Best Buy, as well as the industry analysis a SWOT Strengths, Weaknesses, Opportunities, and Threats Analysis was created to summarize key items that the company should address.
This SWOT analysis will help guide Best Buy as they look to implement a new marketing plan that will hopefully lead to a successful future. Brand recognition Cost of operating large stores Extended portfolio of products and services Recent negative press regarding departure of upper management Geek Squad Disconnect in regards to pricing between stores and website Opportunities External Factors: Focus on redesigning company website Intense industry competition Improve employee customer service training Customer information stored on website being hacked Work with vendors to offer bundled products available exclusively at Best Buy.
Customers shop products in Best Buy stores but ultimately buy product cheaper from online-only competitors Enhance customer rewards program New product launches by major vendors Implementation Control Best Buy executive leadership should review this marketing plan quarterly to track the marketing strategy.
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