The Power of Consumers
The advent of the Internet, and online marketing, specifically, has challenged the domination of traditional brick-and-mortar stores with regards to consumer choice. Platforms such as Amazon sometimes make it easier and cheaper for a person to order an item and have it delivered than to go to a nearby store and buy that item. The lack of physical space restrictions that characterises online markets also means that they can sell products from a broad variety of manufacturers all over the world. The consumer rating systems present on many web platforms, which would be nearly impossible in a physical store, also mean that there are mechanisms for people to express their approval or disapproval and have it heard. The combination of these factors creates an environment where companies must compete for sales aggressively by satisfying buyers as much as possible. It becomes much more challenging to establish monopolies, both local and global, and consumers determine marketing plans and strategies through ongoing, quantifiable feedback.
Apple Brand Loyalty
People that use Apple-branded devices are known for their tendency to refuse to switch to other manufacturers. Apple’s strength as a first mover in the smartphone market is likely a significant contributor to this trend. Consumers believe that Apple is a company that can be trusted to make excellent devices and be a market leader. The perceptions have been accurate for a long time, as iPhones were the premium devices, and Android phones had inferior traits. However, recently, they have become able to match Apple’s devices in specifications, while iPhones have become considerably more expensive. As such, this perception may change in the future, as Apple’s competitors outpace it. The refusal to consider alternatives to Apple’s other product lines may be explained by what is known as the “Apple infrastructure.” The company’s products are designed to integrate excellently, and a person that switches to another brand on one device may perceive the loss of functionality as a downgrade.
Customer Retention Drivers
Customers are going to return to a company for a product or service if they believe that their expectations were exceeded in terms of both the good provided and the attention they receive throughout the purchase. As such, first, it is essential to create an environment that will focus on the buyers and improve their experience through personalisation and attention. Second, customer expectation management is required to avoid conflicts and dissatisfaction resulting from unrealistic notions and consequent disappointment. It is ideal to set expectations to a level that is lower than the company’s actual performance, as it will then appear to be overperforming. Lastly, it is critical to ensure that the company provides a quality of service that is comparable to that of its product, as people can gauge their treatment immediately, unlike most goods, and it contributes actively to their impressions.
Marketing Realities
The improvements that have occurred in information technologies have created a variety of new realities that change the traditional approaches to marketing. The increased measurability is one of the foremost differences, as it determines which projects are approved or rejected. A set of billboards may or may not reach a collection of people, but an online advertisement reports the number of times it has been clicked and, if applicable, how many clickers proceeded to make a purchase. This data gathering enables another reality, which concerns information processing. Data mining allows marketers to determine a multitude of facts about their target demographics and adjust their efforts for maximum efficiency. Lastly, with the advent of massive social networks, people are becoming more interested in the lives of their family and friends than in company advertising, whether on social media or via traditional methods. Therefore, marketing content has to be designed to engage users who may choose to ignore it if they dislike the messages conveyed.
McKinsey’s Elements of Success
The University of Fujairah should begin its application of McKinsey’s elements of success by evaluating its current marketing solutions. If any areas are found to be deficient, they will have to be addressed. However, before that, the top management should determine the marketing design it would prefer to employ. The new approach should properly align the seven S’s as described in the model: strategy, structure, systems, skills, staff, style, and shared values. Once these factors have been analysed and the desired format is finalised, the University can begin to determine what changes will be necessary to enact the shift from the old model to the new. The determination should then be executed in practice, and the latest marketing designs will be finalised. Finally, a continuous review procedure should be implemented, as the field of marketing and the factors that contribute to a solution are continually changing, and the University should remain updated on the latest trends and identify possible issues before they arise to stay competitive.
Service Quality Improvement
The University of Fujairah is an institution that continuously and closely works with students throughout multiple years after making the initial sale of its services. As such, customer service is essential to its reputation and popularity as well as retention, as students have to choose to renew their contract each year. The first step to improving the University’s service quality would be to provide the appropriate training to all of its employees. The staff should understand what behaviours are desirable or otherwise. Next, the upper management should get more involved in the interactions with students. Such practices would allow administrators to determine the needs and interests of students and address them. These changes would contribute to the improvement of the internal climate of the University, but the matter still requires separate consideration. The atmosphere should be friendly and welcoming to secure the loyalty of existing students and entice people who are considering enrolment.
Successful Marketing Management
Successful marketing management requires the execution of a variety of tasks. The most important one is the development of a marketing strategy based on an understanding of competencies and opportunities. Market insights, which can be obtained through research and monitoring, are necessary for such a plan. The company has to determine its ways of connecting with customers, creating strong and lasting relationships. It is advisable to create a strong brand, a task that can be accomplished through different means. A company can become recognisable through ubiquity, like Microsoft, excellence, like Apple, or creative approaches, like Wendy’s in the United States. Next, marketers must formulate an attractive offer and make sure that its value is communicated in the campaigns. This value should be present in an actual product to match the expectations of the customers, who will be disappointed and leave otherwise. Lastly, marketing should ensure long-term growth for the company through continuous research and activity.
Consumer Characteristics and Buying Behaviour
First and foremost, consumers are individuals who will make different decisions based on a variety of circumstances. Some of these factors are based on groups, while others vary from person to person. Culture plays a significant role in consumer behaviours and should be considered when marketing for different nations. People from various countries dress differently, have varying lifestyles and concerns, and will respond to different messages. Social class is also an essential factor, with different people looking for appropriate values. Disadvantaged people consider price and its relationship with the benefits they receive, while wealthy people are willing to pay a premium for quality and convenience. Personal traits such as occupation and lifestyle contribute to the desirability of an offer. An athlete would respond negatively to a fast food advertisement, but an office worker may be interested. Lastly, psychology plays a vital role in the associations people form as a result of marketing, both positive and negative.
Psychology and Marketing
Four major psychological processes influence consumer responses to marketing: motivation, perception, learning, and beliefs combined with attitudes. Motivation is the reasons why people purchase a specific item, with examples including food to relieve hunger or brand clothing to attain recognition. Perception is the view a person has of a product, as some people may think of iPhones as the best smartphones, while others can consider them restrictive and overpriced. Learning is the knowledge of the product gained after its purchase. A person that bought a bike that broke after several months of use is unlikely to choose the same manufacturer for his or her next model. Lastly, beliefs and attitudes are the prejudice people tend to form towards everything. Many senior people do not believe that a smartphone’s features would be useful to them and choose to buy classic phones or cheaper smartphone models.