Concept Application Paper-Jarir Bookstore
The ability to penetrate the market at a faster and better rate than competitors is what drives marketing efforts. Companies use various strategies to market their products to the consumers. Some of the key strategies used include market segmentation, Positioning and Customer Relationship Management (CR M). The three marketing strategies will be discussed based on their application at Jarir Bookstore in Saudi Arabia. The CRM approach to marketing is founded on the development of customer awareness through the use of various tools and strategies.
The approach focuses on understanding customer preferences and using those to integrate all the business functions towards the achievement of greater profitability. The CRM based marketing is achieved through the use of information technology and is focused on maintaining effective customer relationships through constant communication with customers (Sheth and Parvatiyar 4). Through the marketing model, individualized and interactive communications are held live with the customers.
The application of CRM is mainly aimed at creating, maintaining and keeping useful relationships with customers. At Jarir, this particular approach to marketing has been applied effectively. Jarir uses its website as well as other forms of social media such as Twitter to interact with customers and understand their preferences. It is also through these methods that the company gets to know in case there are some customer preferences they can consider in their delivery.
The company implements CRM through incorporating the social media in their website activities and using it as the key mode of interaction with the customers. However m there is still some challenges faced by the company in the implementation of this strategy. One of the key challenges faced by the company is when dissatisfied customers post negative information regarding the company on social media thereby resulting in negative social image.
Market segmentation is also used by Jarir bookstore. This marketing strategy is used by companies seeking to acquire new customers as well as to maintain existing ones through maintaining customer satisfaction, loyalty and customer retention. In applying the market segmentation strategy to improve market shares, organization used various demographic features to classify customers into different class categories. Consequently, the products and the marketing activities are diversified to match the diverse market groups that come about due to the segmentation practice (Epetimehin 64).
This approach is suitable to address the heterogeneous nature of customers. The marketing program based on segmentation helps to reduce service failures since each market group is targeted using different products. Segmentation results in greater customer satisfaction due to better strategizing. At Jarir, segmentation is mainly achieved through division of products into categories such as school supplies, office supplies and books among others. Various programs are used by the company in marketing such as the back to school initiative. Despite their efforts, Jarir still faces the key challenge of high competition and dynamic market conditions.
A third method used in marketing is the positioning approach. The positioning approach is based on the adoption of the customers’ perspective in considering an organization’s products (Manhas 17). The key objective of this is to maintain strong brand equity and brand awareness among the potential customers. Through various marketing initiatives, Jarir has managed to develop its brand name across the country. The key strategy used by Jarir is product differentiation which sets it apart from the competition. Through continuous addition of new products into their product range, the company manages to maintain effective impact into the market. However, they still face the challenge of high competition levels characterized by intense marketing strategies.
Epetimehin, Festus. Market Segmentation: A Tool for Improving Customer Satisfaction and Retention in Insurance Service Delivery. Journal of Emerging Trends in Economics and Management Sciences, 2.1:62-67.
Manhas, Parikshat. Strategic Brand Positioning Analysis through Comparison of Cognitive and ConativePerceptions. Journal of Economics, Finance and Administrative Science, 15.29:15-20.
Sheth, Jagdish and Parvatiyar, Atul. Customer Relationship Management: Emerging Practice, Process and Discipline. Journal of Economic and Social Research, 3.2:1-34.
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