STEPS OF THE MARKETING PROCESS 3
Gador, Vandehey & McConnell (2015) allege that after the company has found a lucrative
niche, an exclusive strategy needs to be created to advertise to the targeted group. Therefore, this
step is important because it enables the creation of a method that is profitable to both the customers
and the consumers (Gador, Vandehey & McConnell, 2015). Creating a consumer-driven sales
method enhances market segment assessment that aids the breakdown of the populace into small
groups so that the objective audience is easily found.
Creating customer value
The other step is coming up with a way of creating a commodity which offers customers
worth for their cash. Here, the four "Ps" of selling are applied (Kumar & Reinartz, 2016). The first
‘P' refers to the product and it ought to be what something that is needed by the society. The
product also needs to be effectively made, and it should fill a gap in the market. The other ‘P' is
the price of the services and goods. The price should be one that customers will pay minus feeling
cheated or ripped off. The other ‘P' is place. The marketers need to establish the place where the
services or products need to be launched (Kumar & Reinartz, 2016). Lastly, the marketers need to
establish methods of promotion which represent the services and goods accurately.
According to Andrews & Shimp (2017), integrated marketing refers to the comprehensive
plan which delivers and communicates the projected value to consumers. It comprises of a set of
marketing tools that an organization embraces to enact the marketing model to provide goods or
services on its value proposition. Integrated marketing model delivers value by cultivating
consumer loyalty, consumer relations and boosting returns by increasing returns. The approach
also ensures that a company's message is constant regardless of the channel that is embraced in
sharing the message (Andrews & Shimp 2017).