MARKETING PRINCIPLES 6
Internal and External Marketing in Large corporations
Marketing in large corporations incorporates internal and externalaspects of an organization. Small organizations have their marketingfunctions largely comprise of external marketing. However, the largecorporations have to market their brand to their employees becausesome of them are oblivious of such material despite their working atthe company. It is therefore the work of the large corporation toensure that all the stakeholders, both internal and external have aclue of what ideals it holds important.
Internal marketing practices involve marketing activities directedtowards employees and other internal stakeholders in the firm. Amongthe products that the firm seeks to market to its employees includepolicies, values, and intangible properties such as patents and thebrand (Brodbeck, 2013). The company can achieve this throughpublications. Internal publications have been particularly importantwhen handling the issue of internal advertising. For instance, if thecompany wants to encourage its employees to adopt a new healthinsurance policy, the editor of the internal publication will featurea story in which a particular employee has enjoyed the product and heor she urges the rest to follow suit. Since most big organizationshave internal publications, publicizing such information should notbe hard.
The main objective of internal marketing is to create a team spiritin the organization. Internal marketing acts like an inside joke fora group of tight friends because it gives employees access tomarketing information that is not available to many who are outsidethe company. Internal advertising also seeks to familiarize theemployees of a company with the values of the firm.
Sometimes new employees are barely aware of what is expectedof themapart from being good at their job description. In such an instance,internal advertising acts like a reminder of how new employees shouldconduct themselves while at their workstation or away from thecompany premises. Finally, internal marketing aims at reinforcing apositive organizational culture within the firm.
External marketing refers to publicity activities that target theexternal environment of a business in order to create more value forits product or improve customer relations. According to Bansal et al(2001), external environment in this context refers to customers,competitors, suppliers, and the government. At the same time,external marketing may involve activities such as advertising on themedia and online platforms. It also involves hosting socialactivities such as sports, publicizing the books of accounts for thegovernment, and running a safety campaign (Bansal et al, 2001).External marketing seeks assure the society that the company isrunning a credible business.
The primary objective of external marketing is to beat competitionin acquiring a larger marketing share. The company seeks to convinceits clients that offers a better product than its competitors throughcarefully crafted external marketing. The marketing is essential tothe firm’s image. The company also seeks to have a goodrelationship with the society through external marketing.
The society will feel treasured if the company goes out of its way tosupport some of the projects that add value to the community. Thegovernment also needs to be satisfied through external marketing. Theregulatory bodies need to know whether the company has been engagingin any illegal activities such as cooking books of accounts.
A customer-centered business is one in which the customer is the toppriority. The business seems to hold the customer as an importantfigure of the organization, but then a customer-centered businesstends to go a notch higher.
One way through which a business can become customer-centered isthrough ensuring that all employees understand that the customer isthe top priority of the business (Norton & Pine, 2013). Thebusiness should make it clear to all incoming and seasoned employeesthat customer satisfaction is among the core objectives of thebusiness. Any employee who does not conform to this objective shouldbe relieved of his duties. A business that seeks to becustomer-centered cannot afford to compromise its cultures bytolerating employees who belittle the objectives of the business.
Conducting market research is another way a business can becustomer-centered. It is important that a business understands thatthe customer needs and preferences are dynamic. It is thereforeimportant that the business go out there once in a while to find outwhat are the emerging trends in relation to consumer preferences.Market research will also give the business owner a glimpse of whatconsumers think of its products. Through the customer feedback, thebusiness can then tailor its products to reflect the recommendationssuggested by the customers. That way, the consumers will be satisfiedand develop a sense of loyalty that cannot be shaken in the wake ofnew products by competitors.
A product that is tailored to meet the consumers’ preferences willimpact their decision-making process. Consumers will always beattracted to a product that is more efficient and effective comparedto the others in the industry. In the case of product homogeneity,attractive packaging and pricing will influence the consumerdecision-making process. Human beings are always attracted to thesuperficial features of an item before they can even dig deeper toascertain its quality and efficiency. It is for this reason thatcompanies should invest in attractive designs for their goods.
Tools used for Effective Marketing Decisions
For effective marketing decisions, the decision makers shouldconsider the product. They should determine be able to ascertainwhether it meets customer requirements through research. If theproduct does not meet the requirements of the consumers, then thebusiness can go back to the drawing board to find out where it wentwrong (Kotler & Armstrong, 2010). The business should also be inapposition to know whether it is the right time to sell that product.A tool to determine whether it is the right time could come in theform of past records, the actions of competitors, and informationfrom third party sources such as the government. If a businesspossesses such a valuable tool, it will develop a timetable that willbe used to know when it is time to produce in large quantities andwhen the business should tone down on its production capacity.
For a business to make effective marketing decisions, it should havea tool that can separate a good advertising strategy from the rest.Among the numerous advertising techniques, only a handful could berelevant for a single business. It is the work of the business todevelop a tool that will determine the number of relevant techniquesin the form of coverage and price. The managers of a business canachieve this through consulting advertising firms and publicrelations agencies.
Bansal, H. S., Mendelson, M. B., & Sharma, B. (2001). The impactof internal marketing activities on external marketing outcomes.Journal of quality management, 6(1), 61-76.
Brodbeck, H. (2013). Values in Internal Marketing.NomosVerlagsgesellschaftmb: H& Co. KG.
Kotler, P., & Armstrong, G. (2010). Principles of marketing.London: Pearson education.
Norton, D. W., & Pine, B. J. (2013). Using the customer journeyto road test and refine the business model. Strategy &Leadership, 41(2), 12-17.