Sample Marketing Essays on One-to-one Marketing

Question 1

One-to-one marketing is customizing a company’s products or services to the needs of the customer based on a customer’s previous purchases. Additionally, Wind and Rangaswamy define one-to-one marketing (personalization) as the ability of a company to recognize and treat customers individually through personal messaging, specific offers on bills, and targeted banner ads (Vesanen, 8). Therefore, one-to-one marketing is based on establishing a relationship with the customer with an aim of providing customer-centered sales.

Question two

One-to-one marketing benefits both the company and the customers. First, the company is able to increase cross-selling by offering suggestions for associated products to a customer’s purchases. Secondly, one-to-one marketing leads to reduced customer attrition by attaining a higher level of customer satisfaction and increasing customers’ loyalties. Lastly, one-to-one marketing generates faster cycle times in subsequent purchases. To the customer, personalization results in better experiences due to better products and services, as well as improved communication (Vesanen, 16). On the other hand, one-to-one marketing limits the benefits of economies of scale. Since customers have different tastes and preferences, customization of products to suit customers’ needs cannot be achieved through mass production. Furthermore, different organizations understand one-to-one marketing differently resulting in a loss of connectivity between service providers and companies that aim to personalize their products.

Question 3

A business can incorporate numerous techniques in improving its relationship with its customers. Foremost, the business can initiate a feedback channel at its customer care desk so that customers can provide suggestions to help the business deliver better. For instance, allowing product reviews from customers. Secondly, the organization can update its website on a weekly basis as the updates help the business to communicate its products and progresses to customers. Alternatively, the business can have an account on social media such as a Facebook page where customers interact with the business in a less formal atmosphere. The avenue also enables customers to interact with one another resulting in improved customers’ experiences. Lastly, the business can offer tailor-made after-sale services for its customers such as transportation to different areas.

 

Work Cited

Vesanen, Jari. “What is Personalization? A Literature Review and Framework.” Helsinki School of Economics Working paper. Helsinki School of Economics. 2005. https://epub.lib.aalto.fi>pdfPD/Jari-Vesanen-WHAt-IS-PERSONALIzAtION                                                                                                             Accessed 4th September 2020