TONY INFOMATIVE BLOG

As all marketing gurus know, retaining a customer is much more cost effective than acquiring a new customer. Furthermore, maintaining good relations with your existing customers and getting a good life time value out of any existing customer is the key to a long term successful business. Different companies in Tanzania and worldwide are regularly thinking of new products and new ways to provide better services for their own customers. Their competition is more with themselves than with competitors. Similarly, the recent hike in Airline prices has resulted in airlines thinking of unique ways to make air travel more relaxing and luxurious such that the customer feels happy at the end of the flight. Relationship marketing is used to forge long term relationships with the customer such that the customer forms a long term bond with the company and the brand. This in turn benefits the organization in turnover, profitability, word of mouth publicity and overall performance....

There is a major difference between goods and services based on both tangible as well as intangible factors. Goods are basically objects or products which have to be manufactured, stored, transported, marketed and sold. Lays chips, BMW, Adidas are some companies manufacturing goods. Services on the other hand are output of individuals and they can be a collective or individualistic action or performance by an individual. For example a barber or a chartered accountant are giving individual services. Airlines on the other hand have airplanes which is a product but travelling by airplanes is a service (airlines are one of the most competitive service sectors today). Thus the difference between goods and services is based on tangibility. Where goods are tangible in nature, services are mostly intangible. The classic rules which defined services were intangibility, heterogeneity, perishability and variability. However, although the old rules are applicable even today,...

The sales planning process is very important for an organization as success cannot be achieved by haphazard actions. Sales planning process is usually done in the second stage of planning and can be carried out only when the company has a strategic marketing plan in place. The first thing that an organization does is make a strategic marketing plan. Once the strategic marketing plan is made, the organization knows the segment that has to be targeted, and also, the consumer buying behaviour for that segment. Accordingly sales planning is done. Let us go through the sales planning process with the example of Air conditioners 1) Setting objectives – Your sales planning is going to start only when you have defined the objectives for the sales team. For example – The objective of an air conditioning company might be to increase the market share of the company. For this, it will have to penetrate a new geographic market. Thus the objective of sales planning is to pene...