Market Segmentation and 4 Ps - Hausarbeiten
Morgan and Hunt (1994) propose that relationship marketing includes all marketing activities that aim at establishing, developing and maintaining successful relational exchanges. Olymp should concentrate on three main goals and objectives: First of all, they have to try to increase Market share and growth; the company is very successful in doing this, but there is still a lot of potential in this area. The aim of the company is to differentiate their own product towards competitors for their target group and to reach a better identification of potential and existing customers (Ku Kleinaltenkamp 2011). For a globally operating B to C organization such as Nike, pseudo- personal relationships are an efficient way to manage customer relations at reasonable costs. The majority of Nikes customers are considered to be on the customer, client and supporter stage but Nike has customers on all stages of the ladder. This report is limited to the field of marketing and specifically the marketing mix and marketing theory concepts of the product, price and promotion regarding the product Coke Life. And finally Olymp has to improve its awareness level. Gummesson (2008) defines relationship marketing as marketing that is based on interactions within networks of relationships.
The Relationship Marketing of Nike - grin
Moreover, consumers who buy Coke Life are obviously purchasing a convenience product, as customers just spend a little effort on the purchase decision, the product is frequently purchased and widely available (Solomon. A sizeable proportion of Nike customers use the companys products as a means of self-expression and to be accepted within their peer groups; hence the involvement with Nike products is high. By doing so, the costumer is more receptive to marketing messages because the message is anticipated, personal and relevant (Godin, 1999). Therefore each variation of Coke has the same branding, but various colours. Introduction.1 Relationship Marketing.2 Transaction Marketing. One of Nikes major strengths is its strong brand equity (Datamonitor, 2011).
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An authentic brand story helps to distinguish a brand from its competitors and brings the brand to life (van de Wiel, 2009). Nike uses a mix of relationship and relationship marketing. A high level of customer service and commitment to meet the expectations of customers are also distinctive features of relationship marketing (Payne, 1995). Relationship Marketing could be difficult to apply for low-risk, low involvement products, since in that area a relationship with the supplier can often hardly add a value to the customer. 3 Product The product policy is one of the four basics of the marketing mix. Relationship marketing is most qualified for high involvement products (Godson, 2011).
The marketing mix of Coca-Cola Life
This marketing approach emphasizes customer value and is long time orientated. Ende der Leseprobe aus 4 Seiten - nach oben eBook fr nur 3,99, sofort herunterladen. Moreover a company overview of Nike is given. Due to the characteristics of a product, it is a lot more difficult to offer genuine personal touch compared with services (Godson, 2011 which signifies a challenge for Nike. Transaction marketing doesnt differentiate between a repeat customer and a new transaction (Godson, 2011) and disregards customer satisfaction and customer loyalty (Hartung, 2009). It is recommended that the company target itself on reusable packaging instead of one-way drink packaging. Theoretical frameworks, the examination of Nikes relationship marketing activities is based two theoretical frameworks. Here, you have the opportunity to face a great number of occasional customers. Moreover Nikes extensive use of celebrity endorsement has helped to establish a strong brand identity and brand personality (Roll, 2012). Customer Relationships (R1).1 Ladder of Loyalty.2 Knowledge Relationship (R21).3 Electronic Relationships (R12).4.1 Viral Marketing.
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1.2 Transaction Marketing. Instead of merely focusing their marketing activities on the acquisition of new customers, companies need to balance between customer retention and acquisition (Godson, 2011). Table of Contents. On the other hand Nikes uses mass marketing through standardized worldwide advertising campaigns. Theoretical frameworks.1 The Four Broad Partnerships of Relationship Marketing.2 The 30Rs of Relationship Marketing.
Internationalization Strategy of Fashion
That's why the company should continue to pursue its strategy to open retail stores in big, well-known department stores as in the chain Lafayette in Paris. Further, it follows an analysis of the product in relation to the marketing mix theory and concepts. Nike has millions of customers and it can be argued whether it is possible to create a relationship with all of them (Gummesson, 2008). In conducting this report only secondary research methodologies were used implementing resources such as using books and websites. Truly loyal customers are less price sensitive, more likely to give referrals and more responsive to promotion communication campaigns (Godson, 2009). Thereby the focus is on the product, price and promotion. It is obvious that the product is within the category of non-durable goods. Moreover the homepage states that its not about transactions, it's about connections (m). 2.4 Main Target Market of Coca-Cola Life Coke Life is designed for adults who are looking for a great tasting Coke.
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Nike as a global brand is in the maturity phase of the product life cycle. This statement underlines Nikes relationship marketing orientation. Illustration not visible in this excerpt Fig.2: Nike and a selection of the 30Rs. Besides, keeping the high quality level and the concentration on their core products are other crucial things; because these elements characterize the company's brand image. Nikes aim should be to move customers up the ladder of loyalty. The report is structured according to the four partnership approach to relationship marketing.
Projektarbeiten Pflegemanagement Anleitungen, Tipps und
In line with the mission statement, Nikes key target group are athletes. Other than taking a simple buyer and seller approach, this model meet the requirements of relationship marketing by taking a constellation approach (Godson, 2011). At each of the four partnerships an exchange takes place and all of them affect the effectiveness of a company. Special attention should be paid to the recycling system. It is the worlds largest manufacturer of non-alcoholic beverage concentrates and syrups.