Communicating and leveraging the value of existing services to both internal and external customers so that these critical audiences are aware on the tangible benefits they provide is paramount in deriving positive profitability from the services provided. This stems from an internal realization that a company is indeed a service company, even if they manufacture and sell physical products or goods. This is termed by the authors in the article as shifting the customer mindset (both internal and external) from a “free to fee” mentality. Services such as delivery or permanent bulk packaging that are traditionally rolled into product costs are not transparent to the customer, and by breaking them out and making these costs visible to the customer can they become a perceived value-added benefit to them. Once they are perceived as such, revenue can be derived from billable services. A cross-business unit and operational audit of company-wide billing processes can provide insight into the optimization and standardization of charging for over-looked existing services, often allowing for a broader cost-sharing structure across business units leading to quicker return on working capital investment. A senior level employee responsible for oversight of business wide billing practices and strategic development of service offerings can be a champion for short and long-term objectives and best practices centered on profit enhancement for the entire organization. Manufacturing organizations are often savvy and posses core competencies in predictable production standards and processes for physical goods, but fail greatly in terms of profitability when the “front-office” or commercial organization is tasked with developing processes for making money in the provision of services. A failure to account for the varying degrees of service required by different types of customers creates a drain on value-added service margins. Building service platforms that are flexible and allow customers to chose or opt-in to a service level option that best meets their needs helps avoid margin erosion pitfalls. It is critical that firms continuously cost monitor service and delivery processes so as to allow for improvement and ultimately revenue optimization. This requires a top-down, disciplined approach and commitment from senior management that is disseminated down through the organization. A company-wide cultural emphasis on innovation will allow for rapid adoption of new technologies that enhance service efficiencies and reduce operational costs. Ensuring that the sales force is competent and capable of merchandising of value-added services is the third critical success factor for profitable management of a company’s service offerings. Complexity of the offerings must be taken into account when developing sales
Defining Marketing Paper
Definition of marketing.
On my best understanding of marketing, marketing is the process in which a company, product, service, or organization create, develop, produce, advertise, promote, and sell their products and services.
Marketing consist of different areas and these areas depend on each other to accomplish the goal of the organization. Those areas can consist of but are not limited in the analysis of the needs of the consumers, the abilities to use the product…
Airline Services are unique in many ways; the companies associated with airlines maintain a group of consumers who are interested in obtaining quick and comfortable services that meets their needs. The need of this type of consumer is very attainable with the most affordable pricing and the most consumer driven services possible to be provided. Good areas in this association of services and bad areas if a consumer is not satisfied with any portion of the services provided…
According to the “American Marketing Association” (2012), “marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large” (Definition of Marketing). Marketing is also defined as “performance of activities that seek to accomplish an organization’s objectives…
University of Phoenix
Defining Marketing Paper
In today’s world, marketing form part of the backbone in organizations. Many areas that entail the success of a business is supported by marketing. Today, the television, billboards, and the…
McBride Financial Services will be the preeminent provider of low cost mortgage services using state-of-the-art technology in the five state area of Idaho, Montana, Wyoming, North Dakota, and South Dakota. We thank you in supporting our mission! Our customers will receive the most efficient and effective processing of mortgage applications from inception to closing. Discussed in this paper is the market research, type of media, target markets, and other considerations McBride will…
Fine Foods Virtual Organization
Marketing research is imperative for any firm to be successful in the industry in which they operate. Detailed analysis of the industry and market that a company competes in can provide the business with useful information that can help direct the company in the proper direction by fine-tuning some of the company decisions for implementing a successful marketing plan (Perreault, Cannon, & McCarthy, 2011). Developing a marketing plan will involve the market researchers…
McBride Marketing Paper
McBride Marketing Paper
McBride Financial Services aims to be the leading provider of low-cost mortgage services in Idaho, Montana, Wyoming, North Dakota, and South Dakota. The company goal is to break even in the next six months and to become profitable in the next year. Their target customers are professionals, retirees, and families seeking to secure a mortgage for their primary or secondary residence. The current marketing plan is based upon a…
Strategic Alignment Worksheet: Sales and Marketing
Use this Strategic Alignment Worksheet (SAW) to help you complete the sections listed below. As you progress through the course, you will be instructed to complete and submit section(s) of the SAW. Once you have all of the sections completed, you are to incorporate the sections into the larger Atha Execution Plan, which is your final project deliverable (to be submitted in Unit 5).
Sections of the SAW
* Goals and…