THE EFFECT OF DIFFERENT MARKETING STRATEGIES ON THE SUCCESS OF A

BUSINESS

Chellani, Apurva
Palang, Maru
Ramos, Samuel
Schneck, Carl David

September , 2019

The Effect of Different Marketing Strategies on the Success of a Business

REVIEW OF RELATED LITERATURE

Effect of Different Marketing Strategies on the Success of a Business. In this chapter the

independent variable, which is the effects of marketing strategies, and the dependent variable, the

success of the business, will be briefly discussed. The customer relationship, and marketing mix

under the marketing strategies will have their own different effects and those affected can also

have an impact to the success of the business organization. Measurement of success of a business

will be measured through the number of sales, trend in business, etc. This chapter will heavily

focus on marketing strategies, because this is what is going to affect the success of a business.

Having a good marketing strategy can greatly affect the performance of a business.

I. EFFECTS OF MARKETING STRATEGIES

According to Nashwan (2001), the focus of organizations is marketing strategy, which is

used as a tool for acquiring the significant firm performance of a business. Marketing strategy is

also what supports in the expansion of a business, and it strengthens your brand awareness

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(Klausner, 2013). There are different types of strategies in marketing, such as customer

relationship, the Marketing Mix (Torres, et. al, 2016).

A. CUSTOMER RELATIONSHIP

This is the relationship between a customer and the businessperson. It is when an

individual transacts with a business organization to purchase goods or services for monetary

consideration (Torres, et al., 2016). According to the same study, following an effective CRM

(Customer Relationship Management) procedure can give a major impact in increasing a

business’s market share.

B. MARKETING MIX

Marketing mix is appeal to its customers if the business aligns of the marketing mix,

namely the 4P’s: product, price, promotion, and place (Torres, et al., 2016). According to the

same study, the product and price of the 4P’s of marketing mix are able to affect customer

satisfaction, and demand greatly. Getting accurate background market information can help in

deciding the product to be sold in the market area, and the price of the product. Having a good

place can benefit the distribution channel of a business to bring products to their customers

effectively, and efficiently. Delivering the products safely to the consumer, can affect the

customer’s satisfaction . Promotion of a business is able to persuade the public into purchasing

the products of a business, which can potentially affect the target market share immensely.

II. SUCCESS OF A BUSINESS

Success can be measured from the following: increase in customers of a business

organization, increase in sales, satisfaction of customers, and if the business stays trendy in the

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market (Tyler, n.d). According to (Torres, et al., 2016), Satisfaction of customers is an indicator

to find out whether a business organization has a good customer relationship. According to the

same study, effective customer service can result to customer’s loyalty, which also results to

customer satisfaction. This can be measured through customer feedback. Increase in sales shows

that a business is profiting from what they are selling. Increase in profit can be done by

increasing the buying frequency of customers (Veyrat, 2017). When a business stays trendy, it

always get consistent customers. Obtaining consistent customers can potentially attract new

customers, leading to more sales and keeping the business on the top (Mukherjee, n.d).

III. POSSIBLE METHODOLOGIES OF MARKETING STRATEGIES

As stated by Beattie (2019), there are popular marketing techniques for businesses. One

of these techniques is having good promotion such as setting up posters, and flyers. The poster

and flyers are both used to give advertisements online or in person, and both highlight services

and product and also providing contact information. Another is having good customer service,

such as network referrals. With people not knowing whether your business is needed or not, it’s

best to have many people know about your business so that they will be knowledgeable of what a

business organization plans to offer to the public.

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IV. SYNTHESIS

For the marketing strategies. It is basically saying the effects the strategies can create

from using the method, and how the method is implemented effectively. It shows different kinds

of strategies that can give entrepreneurs different choices that can potentially give their business

a great increase in their profit. The marketing strategies is a variable that affects the success of a

business. Meaning having a good marketing strategy can lead to a success of a business. Success

can be measured by the factors that the marketing strategy affects, and big positive changes in it

can mean that it was a success. The possible methodologies gives some methods on how the

marketing strategies could be implemented, and show how important it is to have a marketing

strategy, because of how significantly it can affect the business. Marketing strategies will

determine if the business will get sales or not.

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Literature Cited

Nashwan,, (2015). International Journal of Innovation and Economic Development, 1 (3), 7-15.

https://researchleap.com/how-does-marketing-strategy-influence-firm-performance-i

mplementation-of-marketing-strategy-for-firm-success/

Klausner, (2013). Creating a Successful Marketing Strategy. Retrieved from

https://www.forbes.com/sites/advisor/2013/04/17/creating-a-successful-marketing-str

ategy/amp/

Torres, (2016). Principles of Marketing. Vibal Group Inc. Marketing Strategies. 24-39.

Hassan, et al., (2015). Procedia Economics and Finance, 23, 563-567.

https://www.sciencedirect.com/science/article/pii/S2212567115005134

Tyler, (2015). 7 Metrics to Help you Measure Success and ROI. Retrieved from

https://www.verizonconnect.com/resources/article/how-to-measure-business-success/

Veyrat, (2017). Discover 3 Ways to increase profit in your business. Retrieved from

https://www.heflo.com/blog/business-management/ways-to-increase-profit/

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Mukherjee, (n.d). How to Make Money and Survive in the Trendy Business. Retrieved from

https://www.entrepreneur.com/article/288461

Beattie, (2019). 7 Popular Marketing Techniques for Small Businesses. Retrieved from

https://www.investopedia.com/articles/financial-theory/11/small-business-marketing-t

echniques.asp

SCORING [TO BE FILLED OUT BY THE TEACHER]:

CRITERIA 5 4-3 2-1 SCORE

There is a logical and
smooth flow of ideas in the
ORGANIZATION paper. The 1st and last
paragraphs have
congruent ideas.
Most of the sources were
accurately summarized
OVERVIEW &
and/or discussed of their
CRITICISM OF
significant parts/results.
SOURCES
The overviews show critical
insights of the sources.
The synthesis clearly shows
analysis and evaluation of
the main ideas revealed in
SYNTHESIS the RRL. It reveals the gaps
of the research topic and is
in lieu with the research
objectives.
IN-TEXT The RRL has proper in-text
CITATIONS citations.
There is a smooth flow of
ideas in the paper, but
contains a few lapses.
The sources were
summarized and/or
discussed of their
significant parts/results;
however, they can still be
improved of their critical
insights.
The synthesis provides an
analysis of the main ideas,
but needs improvement to
show critical insight. It is
somewhat in lieu with the
research objectives.
There are a few lapses in
the RRL’s in-text citations.
The paper lacks a
discernible organizational
structure.
The sources need major
improvement. They lack
overview and show no
critical insight.
The synthesis barely shows
or does not show an
analysis of the main ideas.
It lacks critical insight. It is
not in lieu with the research
objectives.
More than half of the RRL’s
in-text citations are
incorrect.

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