Tuesday, March 28, 2017

Marketing is an ongoing process ...

Customers evolve. Perceptions, attitudes, and needs change.  
(c) 2017 Bena-Factor Marketing, Bena-Factor, BenaFactor 
Marketing is an ongoing process. Outcomes improve when companies identify, attract, and retain key customers (markets) for their products/services/brands. Outcomes improve when companies address targeted customers' ever-evolving needs in consistent and perceptively meaningful ways over the long-run.

As customers change over time, their needs also change. Challenges lie in understanding customers who are multifaceted. What do we know about current customers? What can we learn about prospective customers? What did we learn about past customers?

Marketing research and analytics play important roles in gathering relevant information and uncovering latent factors that help companies understand customers' needs, and purchase and consumption behaviors. Marketing research and analytics provide answers that help executives and managers make sound decisions about how to best address customers' needs and build long term relationships with them.


To learn more, please visit Bena•Factor Marketing℠

Or contact Bernadette P. Njoku at info@benafactormarketing.com, 1-888-463-5559.

Thursday, March 9, 2017

Awareness is the first step ...

Awareness is the first step for brands to get into customers' consideration set, mindset, list of preferences, or choice set.  It is a first step before customers make purchases. Hence it is a first step before companies gain market share, loyal customers, and achieve bottom line goals.

Today, the Internet and social media play large roles in building awareness. Still, target marketing should be considered. Traditional means for building awareness should not be overlooked.  In order to remain cost-effective, companies should apply traditional methods in conjunction with updated technologies and digital marketing (including social media marketing, email marketing, mobile marketing, SEO marketing, digital/web marketing and advertising). 


(c) 2017 Bena-Factor Marketing, Bena-Factor, BenaFactor - Brand Marketing


Contact Bernadette P. Njoku for more information.


http://www.benafactormarketing.com
Info@benafactormarketing.com
1-888-463-5559



Tuesday, August 9, 2016

You have the Right to be a Customer. Anything you say or do ... 😊

You have the Right to be a Customer. Anything you say or do ... should be used (with your permission) to help us satisfy your needs and wants ...

Businesses/Organizations (that is, marketers) cannot guarantee sales or consumption. Customers, although they may be influenced, make their own decisions. Marketers need to be good listeners in order to understand customers' needs. Otherwise customers will neither buy, consume, patronize, nor become loyal.

Even if customers buy, they may not consume your product. They may not use the product frequently enough to guarantee repeat sales. Customers may also return products, not use/consume products, or spread bad word-of-mouth, which is worse over social media, and when not disclosed.

For these and other reasons, marketers, sales people, sales reps, executives etc. undergo formal or informal education and on-the-job training -- to improve skills and learn how to address customers' needs. Good sales and marketing skills increase the potentials for sales, consumption, positive word-of-mouth, and so on.

The only outcomes (not guarantees) are that:

• customers may buy (and may use/consume) your product if they need and want it, providing they don't want something else. They also have the option to keep/save their money;

• customers may tell others, good or bad (bad news travels faster), and;

• customers may utilize your money back or satisfaction guarantee if they are not happy.


Business/organizational managers, executives and entrepreneurs should focus on guaranteeing that they will listen and try to understand customers' needs, and provide them with products, services, and experiences that meet and excite their expectations over the long run.



Tuesday, June 21, 2016

Marketing Management + Finance

Proper and efficient management of dollars -- earned, invested, or donated -- improves chances of reaching bottom line goals, and attracting more customers, donors, and investors.

Attracting dollars via customers, donors, and investors is a necessary first step. Understanding, meeting and exceeding the needs and expectations, of all these constituents, improves chances of ongoing business, attracting more investors and donors, and long term survival.

Strategic marketing planning should be a regular activity (annual, semi-annual, quarterly, monthly, weekly) for businesses and organizations of any type and size.



Contact Bena•Factor Marketing℠ at 1-888-463-5559, or info@benafactormarketing.com, for a free 30-minute consultation!  We find flexible solutions that work in today's dynamic, global and technological environment. We provide valuable solutions that adapt to your needs over the lifetime of your business.










Bena•Factor Marketing, Bena-Factor Marketing, BenaFactor Marketing, Bena•Factor, Bena-Factor, BenaFactorand all related trade names, are the sole intellectual property of Bernadette P. Njoku.  Please contact owner for permission to use these trademarks.  

Wednesday, March 16, 2016

Comment: Establishing Hours of Operation

There has been a lot of discussion about retail stores, businesses, and hours of operation, especially during peak shopping times such as holidays, Black Friday, Cyber Monday and Cyber Week.  These are my thoughts:

While it is tempting to increase hours of operation, time is limited naturally. It is important for businesses to be honest about their capabilities. Managers should ask themselves, what is the point of diminishing returns, when increased hours of operation yield little to no returns?  Managers should analyze, weighing costs of increasing store hours -- including overhead costs, production costs, employee morale, fatigue, separation anxiety from family and loved ones -- against revenue gained, and customers' perceptions during these times.

It is important to have time to take care of necessary business activities, activities that occur behind the scenes, that make businesses look as if they run seamlessly.  What would customers' perceptions be if expectations were not met during extended hours?

In some cases, closing doors and taking necessary time off, even if it goes against industry standards and norms, may improve customers' experiences.  Surely, having time off to relax, spend with family and friends, as some pioneering companies allowed during Black Friday for instance, reduces stress, re-energizes and motivates employees.

Establishing proper hours of operation, scheduling, effective management of demand, that work best for your business -- considering customers' needs, company and employees' needs, competition and industry standards -- is important.  Several tools exist today in the 21st century that allow businesses to remain open and available to customers when the office is closed -- such as websites, mobile sites, eCommerce sites, product listings, social media shopping buttons (such as Facebook and Pinterest), communications tools (email, site mail, voicemail, share buttons).