Example of essay on mid-course exercise

Question # 1

The cause related marketing is an activity in the business that commercializes it with charities or causes to have a partnership with each other. This ‘ cause related marketing’ is the way to market the organizational image, services or products to earn the mutual benefits. It would be beneficent to get involved in the cause related marketing. Although, the main reason to involve in it is not philanthropy. In order to get benefits on the contrary business, it links with the charities and benefits to consumers.
CRM is based on the both company social cause as well as for the consumer benefits as a secondary participant. This CRM activity is vital for the successful marketing that highlights long term benefits through targeting adequate audience. CRM differentiates the brand and target the interest of target consumers, and simulate the brand loyalty and attraction towards the employees to increase stock prices and profits . In the conjoint analysis, the marketers affect the promotional programs that target consumer financial commitments.
CRM attracts the new customers and by fundraising it increases the value of the company among new customers. It markets the reach of consumers and enters towards audience, to generate the lifesaving importance through this phenomenon the product sales and services rapidly increases. CRM also raises funds for the social cause through positioning the process of self-recruitment and trainings (Bloom et al., 2006). Moreover, by motivating sales force strong CRM can be done. It is the fact that the customers usually do not get satisfied on receiving the services or products they also need the quality in terms of social responsibility.

Question # 2

Marketing is a social process that could be possible by obtaining an individual or group interest through understanding their needs, and the things that could create the services and values of the products that they want. The customers usually do not satisfy only by getting the services and products, but they also want the quality in the context of social responsibility. Many companies proved its citizenship and responsibility and achieved customer attention and to increase the company’s value among their customers (Maignan & Ferrell, 2004).
In the industrial revolution, the human workforce is replaced by different machineries. This replacement causes the significant gap in the rich and poor. The significance of the social responsibility practices becomes increasingly important among customers. Today, firms realized the importance of CSR and the impact on developing company value and measuring performance effort in terms of financial growth.
It is clear that the main object completed through making CSR efforts is to achieve the customer loyalty. CSR attracts indirectly the market value of the company. There are four main factors of CSR including environment, community, workplace and marketplace. This factor shows a great impact on the company relevant stakeholders, employees, government, union and local communities. This CSR in terms of enhancing the quality of business, drive the organization towards profit by attracting the community towards traditional financial imperatives for them. In order to get the customer loyalty CSR verbal promotion of the products and services shows a great impact through incubating customers from others particular products or services. The social responsibility differentiates the company from its competitors and helps to achieve consumer’s preference that enhances the sales and to gain more profits.

Question # 3

In order to understand how the changes in the industry or workplace are made, the firm needs to classify the business processes to perform functions associated with them. The business process is the system that provides new information on the kind of establishing the nature of the industry is applied equally to measure the current employment structure, growth of the organization, its expansion and outsourced work . This process starts when input and its ends procurement services start. These processes need each department good performance as well as coordination among them. After the sales of services or goods support the business processes. The core business process is directly related to the industrial operations of the firm and support internal activities. The five core business processes of any firm are described as follows.
Procurement, logistics and distribution: This business activity is associated to obtaining and gathering the inputs for the business that are stored in order to transport customers, a finished product.
Operations: There are numerous activities in the firm that transform the company’s inputs into the output in final form either it is a product or services.
Product or service development: it is associated with the improvement, redesigning, and re-engineering of the product and services to market them with proper analysis.

Marketing, sales, and customers: it includes activities to inform the potential buyers through advertising, marketing, retailing and selling.

Customer and after sales services: it supports customer purchasing of goods or services by including training, call center services, and support centers for customers.
These all five core business processes build the main structure of the firm that could never be possible without the effort of every organizational department, as well as the strong coordination among them. The procurement process needs to coordinate with the operational activities, to understand what is required, the marketing and sales need to know the product or service proper awareness. While, customer services need to the coordination with the logistics and procurement processes.

Question # 6

The customer’s loyalty has been an important goal in the consumer marketing community. The customer’s perceived value is considered with the ratio of the consumer’s inputs or outputs with the input or output of the service provider. The costumer’s perceived value is focused on the equity that perceived the cost, stress, payment and energy consumption at the end of customers demand.
For example, the customer perceived value today is becoming the latest competitive advantage to many industries, corporations and supermarkets operators. These operators through proper awareness have gained the customer loyalty by getting the customer perception. It is the impetus to the customers to buy the patronage success by leading, to get the business profits. Jun and Hui in their article analyzed that the Customer perceived value implementation in supermarket has promoted to attain and manage the necessities that set up the constitution model of CVP in supermarket and suggested using it is promoting a business strategy.
Another example of Customer perceived value could be illustrated from the study of Ryu et al. . They developed the integrated model that shows the influence of the quality service factor on the restaurant image and its customer perceived value. This model of study empirically confirms that the food service quality and customers output needs to be in equality, and it forms the causality image of the restaurant.

References

Adkins, S. (2007). Cause Related Marketing. Routledge.
Anghel, L. D., Grigore, G. F., & Roşca, M. (2011). CAUSE-RELATED MARKETING, PART OF CORPORATE SOCIAL RESPONSIBILITY AND ITS INFLUENCE UPON CONSUMERS’ ATTITUDE. The Bucharest Academy of Economic Studies, Romania, 13(29), 73.
Bloom, P. N., Hoeffler, S., Keller, K. L., & Meza, C. E. (2006). A market research technique called conjoint analysis can help managers predict what kind of affinity marketing program is likely to offer the best return on investment for their brand. How Social-Cause Marketing Affects Consumer Perceptions.
Brown, S. P. (2008). Business Processes and Business Functions: a new way of looking at employment. Business Processes and Business Functions.
Geerts, G. L., & McCarthy, W. E. (2011). Using object templates from the REA accounting model to engineer business processes and tasks. Review of Business Information Systems (RBIS),, 5(4), 89-108.
Jun, F., & hui, S. (2011). On customer perceived value to supermarket. Product Innovation Management (ICPIM), 429 – 431.
Laguna, M., & Marklund, J. (2013). Business Process Modeling, Simulation and Design, Second Edition. CRC Press.
Maignan, I., & Ferrell, O. C. (2004). Corporate social responsibility and marketing: an integrative framework. Journal of the Academy of Marketing science, 32(1), 3-19.
Peloza, J., & Shang, J. (2011). How can corporate social responsibility activities create value for stakeholders? A systematic review. Journal of the Academy of Marketing Science, 39(1), 117-135. Journal of the Academy of Marketing Science, 39(1), 117-135.
Raman, M., Lim, W., & Nair, S. (2012). THE IMPACT OF CORPORATE SOCIAL RESPONSIBILITY ON CONSUMER LOYALTY. Kajian Malaysia, 30(2), 71–93.
Ryu, K., Lee, H. R., & Kim, W. G. (2012). The influence of the quality of the physical environment, food, and service on restaurant image, customer perceived value, customer satisfaction, and behavioral intentions. International Journal of Contemporary Hospitality Management,, 24(2), 200-223.
Yang, Z., & Peterson, R. T. (2004). Customer Perceived Value, Satisfaction, and Loyalty: The Role of Switching Costs. Psychology & Marketing, 21(10), 799–822.