Posted: May 25th, 2022
marketing factors driving product choice: brand, quality, distribution, price? Defend position in order answer question, required select ONE brand product categories: (1) Good & Service — e.
Importance of marketing factors
Brand, quality, distribution and price
The marketing efforts within the modern day business society are more and more impressive as they strive to serve growingly complex customers and business situations. At the level of the researchers, a recent dilemma is posed by the ability of the companies to create relationships with the firms. On the one hand sit those who argue that such relationships exist and they generate loyal customers. On the other hand sit those who argue that such relationships do not exist as the organizations to not respond to individual customer needs. In any circumstance, a question is being posed relative to the implications of the relationship, whether existent or inexistent.
In order to assess the situation, emphasis would be placed on the four most important marketing factors, namely brand, quality, distribution and price. These elements would be assessed at the level of three specific items: goods, services and goods & services, each of them represented as follows:
The goods segment would be represented by the Wal-Mart Stores
The services segment would be represented by Disney and The goods & service segment would be represented by Apple Inc.
The Wal-Mart stores have for years been the subject of fierce criticism due to the shortcuts they take in the creation and establishment of the lowest retail price. With this objective in mind, the company has been accused of exploiting its staff members, of accepting a low quality of the products retailed or of generating a negative impact on the well-being of the communities in which it operates. In spite of these accusations nevertheless, Wal-Mart remains the larger retailer in the United States. And the rationale for this situation is represented by the strength of the relationship between the company and its customers. And this relationship is structured on price and distribution primarily. Aside from the lowest price, the company is also praised for its efficient supply chain system which ensures that the customers will always find the products they need on the Wal-Mart shelves (Fisher & Fisher, 2009).
In terms of Disney, the main reason as to why people return for the company’s services is the high quality of the services provided. Disney offers entertainment for the entire family, and also high quality entertainment. Despite the fact that the prices in the Disney amusement parks are higher than those implemented by the competition, the customers choose Disney for the experience. In other words, clients are loyal to Disney as a result of brand strength and quality of service, which define the Disney experience.
Finally, at the level of Apple, the customers often reveal high levels of satisfaction and continue to purchase from the company stores. The distribution of the products is somewhat limited in the meaning that the organization retails through its own stores which are mainly present in the developed economies. Also, the retail prices for the Apple products are often higher than those implemented by the competition. Additionally, the Apple products are often incompatible with other types of software, which means that the buyers’ access to other software is restricted. But in spite of these limitations nevertheless, the company has managed to attract and retain impressive numbers of clients.
The main arguments in favor of Apple’s relationship with the individuals are based on the Apple brand strength and the Apple experience. The Apple products are not only high quality items, but they are also fashionable and offer the buyers a sense of individuality. Additionally, aside from brand and quality, the relationship constructed with the customers has also been based on the implementation of CRM programs — Customer Relationship Management. The CRM program has been devised to create a strong Apple culture and to achieve high levels of customer loyalty. They were based on elements such as individual Apple stores, complete solutions, varied products, education upon point of sale, consistency, innovation and attractiveness (Inside CRM, 2008).
In all three scenarios previously mentioned, all of the organizations have managed to create relationships with their customers. Wal-Mart for instance created the relationship based on price and distribution efficiencies. Disney based it on brand and quality, whereas Apple also used business models.
Aside from the primary finding of the existence of the relationship between firm and clients, a secondary question is being posed relative to the importance of this relationship. At a generic level, it is accepted by the majority of the research community that the existence of a strong relationship between firm and customers leads to the formation of loyal clients. In essence, loyal customers are easier to satisfy and retain. In other words, it is more cost effective to retain loyal customers than it is to attract new customers (Kumar, 2006). This specifically means that the marketing efforts and resources which would have been used to attract new customers can be reallocated to support other organizational endeavors, and as such sustain the overall development of the firms.
Overall, the four marketing factors are crucial in the construction of a relationship with the customers. It would be expected that the economic agents strive to serve customers through all brand, quality, distribution and price efficiencies, but as it has been shown, the relationship is often dominated by one or two of the factors. In each case nevertheless, the creation of a strong relationship is possible and it leads to customer loyalty, which in turn generates savings and additional investment opportunities.
Fisher, A., Fisher, T., 2009, The data asset: how smart companies govern their data for business success, John Wiley and Sons
Kumar, S., 2006, Total Quality Management, Firewall Media
2008, 11 effective strategies Apple uses to create loyal customers, Inside CRM, http://www.insidecrm.com/features/strategies-apple-loyal-customers / last accessed on March 4, 2011
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