Marketing is a communicative tool for the value of product or services to various customers. Just like marketing concept, companies have developed philosophies as guidelines that orient them to the marketplace. These several competing philosophies which differ sparingly include the selling concept, production concept, and product concept. According to Bhasin, the selling concept is of the view that consumers and businesses if ordinary left alone without any marketing effort then there would be no enough buying of the selling company’s products. It therefore allows managers or organizations to develop an aggressive selling and promotion effort in order to sell what they produce or make rather than produce what the market longs for and wants.
Unlike the selling concept, the production concept is of the view that consumers will always prefer product that are not only available, but are rather inexpensive. This concept helps managers to focus on high production efficiency and mass distribution of low costs products. On the other hand, the product concept holds the view that consumers normally prefer product with most quality, performance, or even innovative features. Therefore, managers who concentrate on the product concept normally assume consumers as preferring well-made products. However, the above concepts differ from marketing concept. Marketing concept normally focuses on creating, delivering, and communicating consumer value to organization’s targeted customers. In doing so, this concept concentrate on integrating the market in order to best serve consumer needs for the profitability of the business. While the selling, production, and product concepts focus on seller’s needs, Kotler points to marketing concept as concentrating on buyer’s needs.
Market survey is an essential tool for any business as it allows companies in obtaining relevant information about customers and non-customers. It equips companies with customers’ views concerning their products or services, as the competitive nature of the same with other influential businesses. But as he points out, there are a number of market-survey techniques that can be deployed by companies in obtaining valuable information about their customers.
First is a qualitative market-research technique that can be engaged by interviewing customers from different demographic groups to allow firms acquire essential information. This technique enables companies to obtain general idea on how consumers prefer and buy certain products. It is also capable of denoting which product buyers tend to like most. Through interviewing groups of different age, income, or gender, companies are able to produce information on socio-economic characteristics, motives, and opinion concerning customers. It therefore, allows them in planning product features, sales promotion, and channels of distribution which satisfactorily agitate for customers’ needs and preferences. However, the disadvantage of this technique is the tendency by some respondents to retain certain necessary information.
Similarly, one-on-one survey can be used as a market survey technique especially when a company wishes to introduce new products. This gives a company first hand information on the preference and relevance of the new product to customers. For instance, observing a customer trying and longing to operate newly developed software gives the market researcher essential product information before it is launch nationwide. However, lack of knowledge on the developed product may render this approach ineffective as may be human biasness such as ego which may not enable market researcher in obtaining relevant information.
Another survey method is online survey. This method can be used in gathering virtual information. By engaging pop-up applications within company’s websites, organizations are able to dispense enough questionnaires via links from which they can acquire instance feedback on customers’ attitude towards their products and services. But unlike, one-on-one interviewing, online survey makes the company not to have control over the type of people who respond to their products. This may result into exaggeration by client thereby leading to misinformation.
As Masanell and Ricart point out, developing a strategic plan that ensure competitive advantage and future viability of company involves incorporating a business model that can effectively interact with the environment. This would ensure that the organization such as T1X4U.com produce services with added value. However, these efforts stem from preliminary steps that must be taken, in this case, by Randy in order to develop a comprehensive plan for the future of T1X44U.com. First, Randy should understand the potential value of his company in understanding the cost and other resources required for strategic planning as well as what technique to deploy and how. As Masanell and Ricart note, organizations that are in crisis such as T1X44U.com find it difficult in developing comprehensive strategic plans unless the immediate problems and demands are successfully solved.
Secondly, Randy should carry out an environmental scanning in understanding how T1X44U.com relates to external environment before making huge investment. This, as Thrall notes, would allow him to assess and understand the demographic trends, fans’ values, economic trends, and technological change which may have resulted from changes in the regulating the marketing laws. This will enable him to have a better understanding of fans’ attitudes and opinions towards its ventured computer hardware and employed techno staffs. Randy can do this by incorporating pop-up questionnaires within his company’s website or conduct interviews with stakeholders and client on the performance of the company. In doing so, he would be able to create customers loyalty that are able currently and in future advocate for company’s services.
Moreover, Randy should redefine or review T1X44U.com’s values, vision, and mission in order to ensure they are consistent with the purpose of the organization and the goals or outcomes it ought to achieve. Additionally, reviewing vision and mission statement would ensure that Randy’s company knows what it stands for and significantly who it serves. For T1X44U.com, vision should be incorporated as imagery model designed in denoting how the community (sporting and entertainment fans) it serves would be if the company’s values were evenly shared and practiced by any other person. For instance, ‘At T1X44U.com, our vision is to be the best international company that best offer ticket services based on values top of mind to our customers, shareholders, people, and community around the world.”
On the other hand, reviewing mission statement would set the purpose for the existence of Randy’s T1X44U.com Company. For instance the statement can be, “Our mission at T1X44U.com is to offer discounted and most ethical sporting and entertainment tickets to each of our client in order to promote and preserve social interaction through sporting events worldwide.”
Some big companies have continuously engaged in extensive lobbying. Such steps have affected the external environment such as government roles thereby undermining business activities. According to Lamb, leading firms such as Philips Electronic in Canada can attempt to shape the external environment especially governments’ role in business to favors its operations. The company has been able to create and provide a range of electronic products for health, lifestyle, and technological services. The social change, technological, political, and demographic influence its products have among Canadians place the company at the epicenter in decision making process attributed to government involvement in business activities.
Additionally, the extensive lobbying of FedEx Company allowed it to acquire almost all Japanese routes it so wished. The strategically planning of reshaping external environment by FedEx company especially in dictating the boundaries at which it operates, denote the company as engaging in environmental management. These extensive lobbying by these elite firms may change government’s role in ensuring legal frameworks are adhered to. Where government agency is to help avoid infringement of human rights, the economic and technological input of elite firms such as Philips Electrons may change the manner in which such copyright laws are dispensed.
In conclusion, managers should understand and develop effective market survey for strategic planning that would ensure their companies and products have competitive advantage over others both in the years ahead and presently. It is also essential for the government to adhere to correct and sufficient ethical marketing codes that best serve the interest of all firms.