Consumer awareness programs are vital in enabling consumers to know the existence of the product. One of the ways of creating consumer awareness is in increasing the number of transactions per client. In this case, I will encourage consumers who access my company once a month to visit every week to check for new merchandise resulting in more transactions. I will also generate repeat business by creating personal bonds with the customers through interacting physically or through emails. Such interaction will make the customers feel treasured and will always return to my premises to make any purchases.
Communication to Target Markets
When reaching the target markets, I will post about services offered by the company in social media platforms such as Facebook and Twitter which are the widely used online advertising channels (Arora, Bacouel-Jentjens, & Edmonds, 2018). Posts involving the company will communicate to the target market about the variety and the quality of products offered and may be convinced to visit the premises and try out the products. Web-based advertising is the ideal method as a high percentage of potential consumers have access to internet services through cell phones.
On advertisements, I will use online newsletters with a large number of subscribers to provide more details on my products and direct consumers on where to get them. I will also couple online newsletters with international print media such as magazines published quarterly, monthly and weekly. I will use magazines which touch on topics such as lifestyle, finance, sports, and fashion since they are purchased all other the world. Individuals reading these magazines will come across the advertisement and will be tempted to try my products. Communication with Other Members
I will create a network with owners and managers of companies dealing with complimentary products. After selling their products, the companies can suggest the complementary nature of our products to the clients who might pass by our stores and make purchases.
Monthly and annual revenues are one of the parameters which will be used to monitor the performance of the company (Marr, 2012). It should be noted that the projection of product advertisements is to increase sales which in turn leads to more revenue. When establishing the monthly revenue due to the marketing program, I will determine the additional income arrived at after the marketing program. For the annual revenue, I will subtract the revenue gained from consumers introduced to the organization during marketing from the annual sales.
The expenses incurred are another performance indicator which is vital in establishing the success of an organization (Grigoroudis & Siskos, 2010). For instance, I will determine the average expenses used to serve a client by dividing the total expenses to the number of clients. A lower value will translate to fewer expenses being used to serve a large number of clients, and the marketing program will be deemed a success.
Repeat business will be used to determine the performance of the company by establishing the number of clients repeating purchases (Parmenter, 2010). A one-time purchase may be termed as a client trying out our products and comparing with other similar companies. When clients repurchase the same product, it means that they were satisfied with the first purchase and would like to use the product again which makes them acquire it from our outlets.
Customer satisfaction will also be used to monitor the company's performance as suggested by Merchant and Chen (2010). It is evident that consumers tend to shop in outlets where they are satisfied with the quality of products or services offered. In this company, customer satisfaction will be measured using customer satisfaction scores whereby clients will be asked to rate our services. These will be availed to clients through questionnaires and also online to customers who prefer online purchases.
Marr, B. (2012). Key Performance Indicators (KPI): The 75 Measures Every Manager Needs to Know. Harlow: Financial Times/ Prentice Hall.
Grigoroudis, E., & Siskos, Y. (2010). Customer Satisfaction Evaluation: Methods for Measuring and Implementing Service Quality. New York: Springer.
Merchant, K. A., & Chen, C. X. (2010). Strategy Mapping: An Interventionist Examination of a Homebuilder's Performance Measurement and Incentive Systems. Burlington: Elsevier.
Parmenter, D. (2010). Key Performance Indicators: Developing, Implementing, And Using Winning Kpis. Hoboken, N.J: John Wiley & Sons.
Arora, A., Bacouel-Jentjens, S., & Edmonds, J. J. (2018). Global Business Value Innovations: Building Innovation Capabilities for Business Strategies. Cham, Switzerland: Palgrave Macmillan.
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