Discuss about the Marketing and Management for Productivity Measurement.
Marketing approach for Leopard Control
The marketing approach used by Leopard Controls was overly ambitious as it strived to offer good price and good benefits to the consumers. The company was undertaking risk in offering expertise to the competitors, that appeared to be beneficial, but had significant amount of risk. The marketing professional should strive to gain competitive advantage for the firm but with minimum number of risks. If the company continues to offer their unique services to the customers at cheap prices, it would hamper their business prospects and their services would lose their importance. Leopard Control is a relatively new company, which would determine its marketing approach carefully (Sheth and Sisodia 2015). A marketing professional should use the bottom-up selling procedure. This implies that the company would sell to a large audience. The bottom-up selling strategy should be implemented carefully (Jagoda Lonseth and Lonseth 2013). It should start with the employees of the organization. They should be exposed with the product and if they are satisfied with it, they can promote the product to their peers. This would also allow them to propose their managers about the implementation of the product globally. The marketing professional should also try to gain competitive advantage for Leopard Controls. It should aim at positioning strategy rather than opting for prospective clients (Zhao Libaers and Song 2015). It should also try to focus on the in house team and motivate them so that they can provide their maximum productivity. They should be able to manufacture as well as design a product themselves and not rely on other companies.
Advantages and disadvantages of current marketing approach
There are several advantages of the current marketing approach of Leopard Controls. The company put major emphasis on ensuring customer satisfaction. They aimed to provide products that best suit the needs of the target customers. They took all the necessary steps to improve the satisfaction rate of the customers. The company not only manufactured customer centric products but also helped them in every possible aspect. They have a wonderful mechanism of gaining new customers (Hughes Le Bon and Rapp 2013). The company provided information to the customers which are outside the purview of the organizations. This delighted the customers and prompted them to make purchases from the company. This marketing approach also helped the company to penetrate in the market at a short span of time (Turnbull and Valla 2013). It is important for small companies to increase their visibility in the market. The company also strived to undertake strategies that put themselves ahead of their competitors. It is important for the companies to understand the strengths of the competitors and design their marketing strategies accordingly (Turnbull and Valla 2013).
There are several disadvantages of the marketing approach used by the company. It is good that the company strived to gain loyal customers. This, however, had certain loopholes. The company provided important information outside their business domain. This was not good every time. If any issues aroused regarding the transfer of information and if the customers find that the information is not true, then it would create a bad image of the company. It may happen that the company didn’t possess updated information which may lead to conflicts between the customers and the company. The customers may misinterpret the intentions of the company (Kim and Zhang 2014). The marketing approach didn’t protect the company from its competitors. Leopard Controls shared amicable relations with the clients that switched on to other companies by providing them with expertise at cheap prices. This implies that they are not concerned about maintaining their brand image. They are also reducing their sales revenue by selling expertise to the customers of the competitors. It is true that the companies should maintain cordial relations with the competitors but it is also true that the companies should serve their best interests. There can also be wrong perceptions regarding the price and the quality of the products since the company was being too pushy in their approach. The company was undertaking risks in the marketing approach, without any strong risk management strategies. They were openly offering their value added services to the customers of their competitors, which may pose sudden adversities to the company.
Hughes, D.E., Le Bon, J. and Rapp, A., 2013. Gaining and leveraging customer-based competitive intelligence: the pivotal role of social capital and salesperson adaptive selling skills. Journal of the Academy of marketing Science, 41(1), pp.91-110.
Jagoda, K., Lonseth, R. and Lonseth, A., 2013. A bottom-up approach for productivity measurement and improvement. International Journal of Productivity and Performance Management, 62(4), pp.387-406.
Kim, E. and Zhang, R., 2014. Mediating role of initial trust on the relationship between website quality and purchase intention.
Sheth, J.N. and Sisodia, R.S., 2015. Does marketing need reform?: Fresh perspectives on the future. Routledge.
Turnbull, P.W. and Valla, J.P. eds., 2013. Strategies for international industrial marketing. Routledge.
Zhao, Y.L., Libaers, D. and Song, M., 2015. First Product Success: A Mediated Moderating Model of Resources, Founding Team Startup Experience, and Productâ€Positioning Strategy. Journal of Product Innovation Management, 32(3), pp.441-458.