Components of Modern Marketing Assignment Help
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Modern marketing is a marketing system that helps in connecting different brand to the consumer through adaptive methodology. This marketing process involves different modern and creative technologies which keep on changing with the trends from year to year.
Modern marketing includes some marketing strategies:
- creating a relevant and valuable matter
- make the best use of your marketing campaigns
- discover the opportunities for the company
- leverage your existing technologies
- make the judgement of the correct content in your plans
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Components of marketing information system
- Internal records:
Under this system customers send orders to the company by paying them through order to payment cycle.Managers depend on the all the internal reports about the consumer such as sales, price, cost, amount receivable and amount payables also then the sales departments prepares the invoice and circulate it in different departments
- Marketing intelligence system:
It is the system carrying set of rules and sources used by the managers get idea about market environment and it helps in collecting market information through different ways:
- Sales force:
There are many sales forces that help in providing information about the market to the managers
It involves retailers, distributors, wholesalers and many more that help in forming a chain by motivating the members of the distribution channel to pass shopkeeper’s sales information
- External networking:
These are the connection developed by the managers from outside sources such as other employees, trade shows, going through the published story of a competitor,etc
- Consumer feedback:
It is the process in which customer’s provides feedback about the company when they use any services of that specific brand. It is one of the cheapest ways of connecting to customers as now online rating and reviews facilities are available
- Marketing decisions:
This component is used by the managers to take the decisions related to the organisation as it acts as supports system for them and help them in taking the right decisions as it gathers information about the business environment
- Marketing research:
This is problem solving component for the managers as it helps in making accurate decisions for the company by studying your problem and then solving it. It is used by all the intermediates and retailers to cope with organisation issues.
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