This week, we will continue our 12 Ps Marketing series blogs by discussing 'process'.
What is a process in marketing mix?
This is the secret ingredient for a company! This is the method by which a company carries out all of the actions necessary to develop its brand, generate demand, and offer exceptional customer experiences.
Marketers in the past would release a product, promote it, and hope for the best. However, in today's market, a buyer's journey map is crucial and must be carefully mapped out. After all, most individuals don't just go out and buy something at random. They undergo a process, which is why process has been added to the marketing mix.
Utilising marketing automation technology solutions can help a company to concentrate on corporate operations to enhance the client experience.
Marketing decisions made about process
The three stages of the buyer's journey are:
awareness - when a potential customer realises they have a need or problem
consideration - when they search for solutions, and
decision - when they have made up their minds on how to address the issue and are prepared to take action by making a purchase.
The expectation, hope and goal of any company is that customers will purchase its goods or services, fall in love with them, and end up being devoted brand promoters.
Questions usually asked when making the decisions are:
What will the process design be?
What is the process flowchart and blueprint?
What are the standardisation vs customisation decisions needed to be taken?
If any, what will be the fail-points, critical incidents and system failures of the product or service?
How will the performance of the product or service be monitored and tracked?
What is the list of resource requirements and what will be the allocation?
What are the key performance indicators (KPIs) and how will they be measured?
Does the product or service align with best practices of the industry?
Have the operations manuals and standard operating procedures been documented?
In summary, to prevent errors and reduce expenses, one should constantly make sure that the business process is carefully planned, well-structured and periodically reviewed and validated. It's crucial to streamline the improvement process in order to maximise profit.
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