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Company Marketing: Relationship Exchange

Marketing is usually a social process that involves necessary activities that enable organizations or individuals to get what they want to exchange with others to promote constant exchange relationships (Sivulka, 2011). Marketers usually face myriad challenges to create interest among the consumers.

Companies that must market “hard to sell” products, for instance, normally face several challenges while marketing their products. According to Sivulka (2011), due to the nature of such products, the companies not only find few customers for their products but also receive less consumer interest for their products. Various issues make it hard for these companies to sell their products and services.

To begin with, some of these companies underemphasize customer orientation. Although the companies deal with “hard to sell” products, some of them, do not major in the art of marketing or advertising their products and services in a proper way (Mullins & Walker, 2010). Even though the main aim of marketing is normally to target products and services to willing customers, “hard to sell” products may at times need more marketing efforts and strategies to draw attention and interest from potential customers (Turner, Kotler & Cunningham, 2011). As such, companies that do not sell such products and services in the best way, often end up targeting the wrong customers.

Another issue that these companies face is a lack of creative ideologies to outshine their competitors. This always makes it hard for them to develop significant strategic directions in producing good marketing returns (Mullins & Walker, 2010). Most companies that have to market “hard to sell” products cannot target organizations or individuals who have the time, interest, and money to purchase the products.

Also, some of these companies focus too much on the promotion of products and services instead of focusing on the efficacy of their functioning capabilities (Turner et al., 2011). They sometimes fail to convince potential customers of the satisfying values of their respective products. Moreover, with the persisting economic hardships throughout the world, some of these companies fail to retain their current customers; leave alone attracting and convincing new ones to buy their “hard to sell” products (Turner et al., 2011).

Usually, when the customers do not want to purchase products, especially the “hard to sell” products, the exchange relationships are affected in various ways: At the outset, the market becomes much segmented, especially when marketers try to win the interest of the customers on one hand, and the customers are focused on the products that they desire on the other hand (Mullins & Walker, 2010). Also, when customers fail to buy products or services of a company, it means that the concerned companies will not be making any meaningful transactions.

With continued failed business transactions, most companies end up closing or developing new strategies to attract customers for their products (Mullins & Walker, 2010). However, these companies may end up wasting their marketing efforts and strategies and may not fully realize the potential benefits of such marketing strategies hence devaluing the exchange relationship further.

Nevertheless, an efficient approach to such exchange relationships is significant. This can be achieved by developing creative and effective marketing strategies. One of the significant strategies is to train professional marketers on developing a wide-minded approach if at all they need to register good sales in their companies (Mullins & Walker, 2010).

Instead of concentrating on the growth of products, the companies should concentrate on the desires and needs of customers to make their products and services more attractive. With the increasing market completion, demographics, changing attitudes of customers, and the rising cost of living, companies must also strive to make good sales. This is achieved by applying extensive marketing strategies for their products and services to attract the right customers.

The companies should also strive to determine a variety of tasks in the determination of the target market. Their first consideration should be aimed at addressing the needs and wants of customers. They need to know the types of products that are appealing to the customers in specific segments. Each company should identify all the benefits that are related to sex, age, demographics, lifestyle, and other important considerations to position themselves and their products in the best place of obtaining competitive advantage (Sivulka, 2011).

Even though troubled or “hard to sell” products and services require creative and innovative solutions in the marketing field, the companies need to be careful in creating the line between promotion and deception. The companies have to do their best in convincing the customers of the goodness of their products and services. They should aim at developing advertising methods that are capable of keeping their brand names and business in the minds of potential customers. To stay in the market, these companies need to create and maintain a good public image. They need to use good advertising methods to attract, convince and maintain their customers (Cresswell, 2010).

Generally, with the ability to attract the right customers, all companies will be able to record good sales. The world of business is so competitive that every company should study the market trends to come up with good methods of making sales. With the application of the right techniques and ideologies, all companies will be making profits. Additionally, companies that want to create an effective exchange relationship should be ready to institute relationships with various firms and across a wide range of functions.

References

Cresswell, L. (2010). Product Design: Graphics with Materials technology. Oxford: Heinemann Educational Publishers.

Mullins, J. W., & Walker, O. C. (2010). Marketing management: A strategic decision-making approach. Boston: McGraw-Hill.

Sivulka, J. (2011). Soap, sex, and cigarettes: A cultural history of American advertising. Boston: Cengage Learning.

Turner, R., Kotler P., & Cunningham, M. (2011). Marketing management. Toronto: Prentice-Hall Canada.