Marketing and Business
- Business needs selling transaction that converts products to money. Without the transaction, no business.
- To sustain, the business expects sustainable selling transaction.
- Business endeavor to create sustainable selling transaction needs resource and subject to the limitation of the resource. So, it needs to optimize the ratio of result and cost.
- Business endeavor to create sustainable selling transaction also called marketing. Promotion is only a small part of marketing. It creates values for the customer by using the marketing mix.
- To optimize marketing program is adjustment in the dynamic system.
No fixed generic answer to optimize marketing program, because it is part of a dynamic business system. The system has component includes companies, competitors, and consumers.
- There are areas of adjustment. There are (1) marketing program vs customer, (2) marketing mix vs competitor (3) marketing mix vs another solution (4) marketing mix vs company budget.
- To create adjustment between marketing program vs customer, understand the customer and build a suit value proposition are important. The result is a suitable marketing mix based on a value proposition that matters for the customer. The manifestation of the effort to manage that value is through the marketing mix marketing program
- To perform adjustment between marketing program vs competition, we need to formulate the differentiation value proposition that competes. The form of adjustment is managing more competitive values in a niche. Building a win-win relationship with consumers
- To make an adjustment between marketing program vs company budget, it needs targeting the market segment and also adjust value proposition/positioning.
- Metrics of the adjustment are awareness, engagement, conversion, repeat customer, and brand.
- In marketing programs, personal selling is often important as part of the promotion and marketing mix.
- personal selling jobs are promotion by using social face to face media. His job is to market with a personal approach
- Personal selling does this job personally or collectively, that follows the company budget.
- His jobs same as marketing but in the personal context. There is a sales process: targeting/prospecting, understand customer, sharpen value proposition, pitch, build rapport, presentation, follow up and closing.
- They also face a challenge: customer objection, keep motivation and find effective work in limited time.
- To handle the objection, they know several kinds of objection. They know how to handle each type.
- To keep motivation, he has the mindset that personal selling is important and win-win relation. Failure is feedback to improve the program.
- The sales team has a sales assignment, so the recruitment, planning, implementation and control processes adjust to the personal selling task.