Case study 3 pages

Organizations are not exempt when it comes to being faced with different challenges that could negatively affect several aspects of the company. These factors may be internal, external, they may involve upper management, etc. Whether it is pertaining to the organization as a whole or only involve specific departments within, it does not matter how big or small the problem is the effects could be detrimental and influence a decline at some point during the life span of the company.

A prime example would be one that was mentioned in the text, which spoke about Lululemon and how different marketing strategies turned out to be in poor taste to the customers of the company. One incident that caused the owner to remove merchandise immediately is when the owner thought it would be a good idea to apply the phrase “Who is John Galt?” on the side of company’s bags which resulted in a huge loss in revenue (Hill, Jones & Schilling, 2017). I am sure this made some customers wonder if they should continue supporting the company.

Marketing is an impactful way that businesses use creative techniques to provide information about and promote products, drives sales, attract and retain customers and touch the lives of and try to convey a message to people across the world. Marketing is a core necessity and takes a team that is able to relate to different audiences. A part of being relatable means that you are able to connect with audiences through emotions and having the ability to understand the need for certain products. When adopting and applying marketing strategies you have to be aware; awareness is very important because as previously mentioned leading with emotions can be helpful but can also cause people to be offended and uncomfortable.

Problem

Marketing strategies help organizations and businesses, and although platforms like the internet and social media each has its own benefits, the problem is, some businesses are suffering especially those that have been around for many years. Marketing is vital tool and if businesses are not careful and aware of their surroundings and competition it can hurt business. Industries are highly competitive especially retail. The retail industry operates in a “dog eat dog” manner and does not care about the opposing team failing, that is exactly what businesses want, to weed out the competition.

Another problem that negatively impact businesses, as mentioned before, is leading with emotions. In this business world you have to be emotionally intelligent and careful in your decision making. Businesses must consider their customers at all times and have their best interest in order to foster lasting relationships and ongoing support.

Another issue that can interfere with the success of a business is poor customer service. It is known that negative information spreads much faster than positive information. According to Niraj Rout with Vendasta Blog, 54% of customers share bad experiences with more than five people, while only 33% share their good experiences (Rout, 2016). Therefore, making sure customer service is up to par should be a priority for your business. I approach situations at work with the attitude that without customers I would not have a job, therefore without customers there is no business.

Solutions

Being socially aware in business is a huge benefit because you are making it a point to see what is going on around you. Businesses have to know who they are in competition with at all times, as this should be motivation to be bigger and better. Businesses should know what other businesses are doing in order to increase revenue and maybe adopt and tweak a few of their techniques. Let’s use Toy R Us as an example, part of the reason why this business declined according to Nathan Bomey with USA Today, is because competitors turned up the heat and they could not keep up (Bomey, 2018).

This actually happens a lot in business, you will see a lot of high-end designers produce certain products and then other companies go right behind that business and produce the exact same product and add their name to it, this is traditionally known as a replicating or the product is sometimes called a “knock off” or referred to as generic. Even in department stores like Meijer and Wal-Mart, they both carry brand name items and they both offer store brands, Meijer brand or Great Value, and the prices are usually much cheaper but a lot of times it is the exact same product. This is smart and helps to cater to the customer like myself that would rather shop smarter and save whenever I am able to especially is I am going to get the same result. As mentioned by Jim Wang with CBS News, “A dollar you spend is one that you can’t put into your bank account”, so if you’re looking to save go generic (Wang, 2018).

In some instances, it is appropriate to market and lead with emotions, however several factors have to be considered, like the who and what. For instance, if the topic is cancer treatment, then yes it would be appropriate to have real people give their testimonies on how the treatment may have helped them. Or using “scare-vertising” as mentioned in an article on Hubspot by Jami Oetting, which is sort of a scare tactic that is used to convey messages in commercials to prevent drunk driving and cigarette smoking (Oetting, 2018). Therefore, it would be a good idea to stick with what the topic is, if fitness, incorporate messages that concern fitness.

When it comes to customer service you can never have too much training. If you care about your business and want to flourish and be around for a long time you have to care if your customers are satisfied or not. In doing so that means, first and foremost, being proactive in the hiring process. A lot of businesses administer personality and behavioral in order to get a feel for prospective candidates and how they handle situations. As mentioned by David Bell with LinkedIn, employees with high EQs are more likely to stay calm under pressure, lead by example, receive criticism, etc. (Bell, 2015). This type of employee I am sure is easier to coach/train and able to deliver and will understand the importance of customer service as it relates to the business. Secondly, setting an expectation for employees and laying a foundation so that they are aware of the importance of customer satisfaction. I would also implement quarterly training courses in order to keep employees abreast.

Marketing has evolved over the years and businesses have come a long way from only having word of mouth or print ads to rely on in or to make a name for themselves. Thanks to the rise of social media and online shopping businesses are able to reach customers all over the world at the click of a button.

References

Hill, C., Jones, Gareth., & Schilling, M. (2017). Strategic Management: An Integrated Approach. Cengage Learning: Boston, MA.