Social entrepreneurship and social endeavour are subjects that have started impressive developing enthusiasm among pioneers in the business, charitable, and government areas and additionally among scholastics in administration, non-profit, and open organisation or voluntary programs. Enthusiasm for the academic community can be followed to the late 1970s, which saw the start of a plan among those considering philanthropies and wilful activity to start inspecting the relations between the charitable, for-benefit, and government sectors. This has developed into a noteworthy academic concentration and now incorporates theory and research on the cut off points of each hierarchical frame; their connections in businesses where they exist together; and the mixing, obscuring, and consolidating of market and nonmarket structures and authoritative structures. Social entrepreneurship touches upon some of the issues right now being talked about in branches of financial matters, human science, and public affairs. Moreover, there has been a huge development in the quantity of college focuses set up for the examination and educating of social entrepreneurship, regularly in business or open undertakings schools in places for charitable investigation [Social Enterprise Task Force (2010): Adding Value, Delivering Change – The Role of Social Enterprise in National Recovery, an initiative of Clann Credo and the Dublin Employment Pact].
Among non-profit specialists, the interest for social entrepreneurship has concentrated on the era of earned pay. Philanthropies have a long history of acquiring pay. Philanthropic business exercises before, be that as it may, were principally intended to give administrations to bodies electorate the association was committed to serving (i.e., setting up a utilised apparel store for poor people). In the United States, this picture changed in the mid-1980s. The financial slowdown and social administration spending cuts amid the Reagan organization drove various charities to either consider or start earned salary dares to compensate for lost government subsidizing. In 2000, the charitable division ended up plainly worried about the likelihood of further spending cuts from the George Bush administration. Furthermore, conservative standpoints all through government got an ascent calls for both the non-profit and open parts to put resources into showcase based answers for social issues, including considering earned salary as a wellspring of budgetary manageability. Going with this has been a multiplication of experts and bolster associations and an assortment of financing hotspots for these market-based arrangements. For instance, 2007 denoted the eighth meeting of the Social Enterprise Alliance. The meeting was a major gathering, a social occasion of those gave an advancing edge to non-profit commercialisation. The enthusiasm for social entrepreneurship has as of late gone up against worldwide measurements with different dimensions. In addition to those in the United States and Western Europe, dynamic social entrepreneurship motivation can be found in Eastern Europe, Latin America, and Asia. Various worldwide level free market activity side elements have prompted the expanding premium supply-and–demand interest in social entrepreneurship. On the supply side, Nicholls (2006) refers to increased worldwide per capita riches, improved social mobility, an in-crease in the number of democratic governments, expanded influence of multinational enterprises, better training levels, and enhanced correspondences. Demand side factors incorporate natural and wellbeing emergencies, rising financial disparity, spread of a market ideology, and a more created part for philanthropic associations.
Since the development of enthusiasm for social entrepreneurship and social business enterprise is moderately later and there are an assortment of on-screen characters and fields required in discussion and practice, it is not astounding that there is an assortment of viewpoints, feelings, and applied details. Terminology is an issue. For instance, the terms social enterprise and social entrepreneurship are here and there utilised conversely however different circumstances are definitely not. This has been and keeps on being a wellspring of disarray and conflict. The term social business enterprise is tricky in that now, there is no concession to significant parts of a definition. Basically, nonetheless, when the term is utilised as a part of a way steady with the term business enterprise, it alludes to a procedure of the advancement of another item or an association to serve a social need. Interestingly, the term social endeavour is a smaller idea and there is general concession to its definition. It alludes to strategies for business or earned salary era. A few analysts and specialists hold social undertaking as a key part, if not the substance, of social business enterprise, but rather others don't. Also, the majority of the discourse to date has been about social endeavour and not about social business person send, in spite of the fact that this is evolving quickly. Also, an assortment of social-undertaking practices and procedures have been produced, which are being utilised by administrators, advanced by advisors and expert schools, and supported by establishments and others.
1.2 Company Overview
Enactus Ireland (formerly known as students in free enterprise or simply SIFE), is a worldwide organisation that seeks to foster entrepreneurial leadership by creating sustainable partnerships among university students, higher education institutions (HEIs), business and corporate pioneers. The concentration of Enactus Ireland is to encourage students to identify entrepreneurial solutions to socio-economic challenges within their communities. Students, in other words, are challenged to think of problems within their communities as entrepreneurial opportunities. To tackle these issues, Enactus Ireland requires students to design entrepreneurial projects that address the three key Enactus Ireland pillars of profit, people, and planet. Enactus Australia (2013) states, these three factors broadly encompass the idea of sustainable business practices as:
Social sustainability (People): This refers to anything tied to the well-being of the project participants. Examples of social factors in Enactus projects may include (but are not exclusive or limited to): poverty, equal opportunity for health care, fair and equal treatment and pay of employees, employee development, developing people's success skills, business ethics and reinvesting profit or gains into the surrounding community through sponsorships of other social initiatives.
Economic sustainability (Profit): This is in reference to whether or not a project is economically viable. Economic factors in an Enactus project may include (but are not exclusive or limited to): empowering others to increase the profitability of their business, empowering others to improve an existing business, developing new entrepreneurial ventures which help increase revenue and profit for others, illustrating that project participants have increased their personal wealth and or financial management capacity, and much more.
Environmental sustainability (Planet): This refers to the environmental impact of a project. Enactus teams should aim to minimize the negative impact on the environment. From the planning stage until the execution of the project, Enactus teams should make the necessary arrangements to ensure that their projects do not harm the environment. Examples of considering environmental factors in Enactus projects may include (but are not exclusive or limited to); conducting an environmental audit, profitability of environmentally friendly solutions/materials/products, choosing sustainable materials for new products and processes, working with bio degradable products and sustainable energy sources and much more. Enactus projects, therefore, enhance to improve both the quality of life and standard of living of the ‘people in need' without necessarily compromising the environment (or planet) (Enactus, 2013b). Enactus projects, therefore, create a stage through which university students learn real-life business skills, and at the meantime contribute towards creating better communities.
Against this background, authors such as Tshikovhi and Mvula (2014); Zeng, Bu and Su (2011) attribute participation in Enactus projects as practical entrepreneurial training, which enables and helps students develop positive entrepreneurial attitudes and entrepreneurial knowledge. The underlying principle is that students, through practical training, are more likely to develop various stocks of knowledge throughout the learning processes. Jack and Anderson (1999) imply that knowledge gained from Enactus entrepreneurship projects, therefore, helps students not only recognise entrepreneurial opportunities, as well as also to create feasible business models to exploit the former.
A lot of example of these writers on essential studies of Marketing Management, Strategic Management, Communication Techniques, Public and Media Relations. This article provides an organised approach for managers to develop social marketing strategies that that will raise organisation's profile on campus and increase participation levels in the organisation's activities among third level students and faculty. Marketing is the process by which companies create value for customers and build strong customer relationships to capture value from customers in return (Kotler Philip et al., 2010).
As shown in figure, the first phase in marketing is; Understanding Customer's Needs, Wants and Demands regarding the market offerings such as combinations of products and services to capture value and satisfaction from the customer. This may be done by segmenting the markets, and then, targeting the segments by choosing a definite Value Proposition which is the second phase of marketing i.e. Customer-driven Marketing Strategy. In third phase, the 4Ps of Marketing - Product, Price, Place and Promotion are set. The fourth phase focusses on the process of building and maintaining profitable customer relationships by delivering superior value and satisfaction.
Figure 1: Marketing by Kotler Philip
Integrated Marketing Communication (IMC) is the greatest test for every one of the organisations which will be confronting in the 21st century. Every one of the brands manage this test, regardless of their income and the size. Following twenty years of presence, the idea is currently at the pivotal stage. Some organisation can't grow its foundations of coordinated promoting correspondence since they misconstrued and misjudged in the idea of IMC.
In this manner, there is a tremendous hole to be associate, which is the hole between IMC as a practice and as a hypothesis. The individual from the organisation ought to realise what is the significance and utilisation of IMC with the goal that they can actualise in the organisation. Likewise, the idea of IMC ought to be characterised unmistakably as a hypothesis so it can be effectively actualised in the organisation business rehearses. On the off chance that this crevice didn't interface, there will be a major issue for IMC as a teach. This is on account of, it can be decreased to be a straightforward apparatus or strategy, which it is most certainly not. Additionally, the current coordinated showcasing correspondence is exceptionally constrained to what it is.
In the age of drastic changes, organisations need sustainable competitive advantage to cope with changes and to succeed. They can create, sustain and use competitive advantage through strategic management. Organisations can formulate strategies that their implementation results in sustainable competitive advantage. Marketing strategies seem to be an important type of these strategies.
Thomas Martin Key et al. (2017) comprehends that there are currently more ways of reaching a target audience than ever before. Print, radio, television, face-to-face, Facebook, blogs, Twitter, YouTube, websites—the list goes on and on. The pressure to make the right marketing decisions, whether choosing the most appropriate channels to use or identifying which messages will be most effective, can be daunting. Neff (2016, 2014) mentions that, the Advertising Research Foundation recently conducted a study of 5,000 advertising campaigns for 1,000 brands and found that 60% of these campaigns relied on two or fewer mediums. Marketing has moved away from the advertising era and into the public relations (PR) era. Al Ries et al., (2002) articulates that, public relations have now become the most effective way to build and grow a brand. PR has credibility whereas most consumers are sceptical of any claims made in the advertisements.
Interaction among marketing variables is a central theme in marketing. Indeed, it is interaction that provides a rigorous basis for the marketing-mix concept, “which emphasises that marketing efforts create sales synergistically rather than independently” (Gatignon, et al., 1987, p. 247-57). Several studies document the joint effects of marketing variables on market outcomes. Gatignon (1993) provides a comprehensive review of the literature on marketing interactions and describes the methods for calibrating models with interaction effects Gatignon et al. 1993, p. 697-732).
2.2 Integrated Marketing Communication (IMC)
Modern advertising textbooks adopt the Integrated Marketing Communication (IMC) perspective (Belch et al., 1998), major universities offer IMC courses (Petersen et al., 1991), and many marketers and advertising agencies embrace the concept (The New York Times, 1994). “Integrated marketing communication is a strategic business process used to plan, develop, execute, and evaluate coordinated, measurable, persuasive brand communication programs over time with consumers, customers, prospects, and other targeted, relevant external and internal audiences” (Page 65, Schultz et al., 2004).
Historically, Schultz and Schultz (2003) contended that the evolution of IMC was driven by three main influential changes that affect the marketing communication industry. These are the development and diffusion of digital technology, the elevation of branding as the major tool for differentiating products, and the marketing and business focus on globalisation. IMC is potentially a valuable tool in addressing the accountability and effectiveness issues of brand
equity and brand development.
By having one overall promotional strategy and closely coordinating all six elements of IMC (Kotler et al., 2012) - (1) advertising, (2) direct marketing, (3) sales promotions, (4) public relations, (5) digital/internet marketing, and (6) personal selling–—social marketers can hope to achieve a multiplicative impact from individual promotional efforts. Having consistent marketing messaging, one logo, one slogan, and one positioning approach also contributes to a unified communications strategy that can work in all mediums and promotional elements. Moreover, these coordinated activities improve the prospect of behaviour change by increasing the effectiveness as understood through the response process.
In response to concerns about the impact of hostile marketing environments on brand equity and increased management expectations related to marketing performance and accountability, many organisations are considering how to improve the management and integration of their marketing communication programs using integrated marketing communication (IMC). White states that marketing communication plays an important role in building and maintaining stakeholder relationships and in leveraging these relationships in terms of brand and channel equity (White et al., 1999). In furthering the debate and development of the IMC concept, they suggest that IMC is the major communications development of the last decade, and that it is a potential driver of competitive advantage. The power of IMC is said to counter a range of changes in the marketing communication environment that are having an impact on the ability of companies to attract, retain, and leverage customers. Kitchen Joanne, and Tao also argue that IMC seems to have passed through, and is still passing through, significant debate over its meaning and purpose, and that it is struggling to emerge and distinguish itself from other marketing concepts such as integrated marketing, CRM (customer relationship management), and market orientation (Cornelissen et al., 2001). From Kitchen, Joanne, and Tao's perspective, IMC needs to be seen as a new paradigm that will facilitate the management of marketing communication (Kitchen et al., 2004).
As an indication of ongoing conceptual and theoretical development, a recent IMC article suggested that IMC should
▪ be more strategic than executable,
▪ be about more than just advertising and sales promotion messages,
▪ include two-way as well as one-way communication, and
▪ be results driven.
Cornelissen and Duncan 2001 mentioned, IMC is regarded by some as a management philosophy to be incorporated into the organisation's approach to business (Nowak et al., 1994), whereas Nowak and Phelps stated it primarily as a process of campaign development connected to a wider brand strategy ( Harris stated IMC as a philosophy suggests that an organisation may subscribe to the concept of integrating communication whereby the emphasis is on raising awareness of the benefits, and hence intention, to integrate communication messages. Establishing a positive and conscious attitude toward integration may build "esprit de corps" with a flow-on effect on what is done and how it is done, that is, organisational artefacts and values (Harris et al., 1998).
2.3 Brand Management
Duncan and Moriarty, Market orientation has been an implicit theme underlying the implementation and management of IMC (Duncan et al., 2002). There is an assumption made by slater that firms adopting IMC have in place a customer-centric orientation and systems for linking the organisation to the market and customer, as well as processes, systems, and mental models that link various functional areas of the organisation (Sandra M., 1997). Lings have defined common link between MO and IMC through inter functional coordination is consistent with internal marketing (Narver et al., 1997). It is evident that one of the main contributions to emerge from IMC is the concept of emphasising the employees who may be the principal means of communicating the brand value (Lings et al., 2004). As noted by Berry and Parasuraman in discussing the internalising process for service brands: "Internalising the brand involves explaining and selling the brand to employees, sharing with employees the research and strategy behind the brand training employees in brand-strengthening behaviours and rewarding and celebrating employees whose actions support the brand” (Berry et al., 1991).
In providing an insight to brand orientation, Ewing and Napoli suggest that brand management has been viewed from several perspectives, with some authors having taken a broad overview of the brand management process (Ewing et al., 2004), while Keller have focused on specific elements or themes, including creating a unique brand identity, structuring brand portfolios, managing brand communication, and monitoring brand value (Keller et al., 2000). By focusing on each of these aspects, an organisation is able to effectively monitor consumers' brand perceptions, identify whether such perceptions correspond with their own brand vision, and initiate strategies that reinforce positive brand beliefs or change negative perceptions.
In general, it can be suggested that the following elements are drawn from brand orientation (Bridson et al., 2004), 1. Shared brand vision 2. Shared brand functionality 3. Shared brand positioning 4. Brand return on investment 5. Brand value adding capability 6. Brand symbolism. These elements lie in the territory of IMC, implying that successful value adding is critically dependent on the success of IMC. Finally, the figurative value of a brand is not an inherent attribute of the brand, nor does it exist outside the communication, behaviour, and attitude of the business, or how the consumers perceive these.
University of Manchester states that “Methodology” implies more than simply the methods we intend to use to collect data. It is often necessary to include a consideration of the concepts and theories which underlie the methods. For this project, the specific feature of the Sociological concept of Entrepreneurship and Business concept of Marketing through Communication for information retrieval, underlying concepts of Marketing have been studied and IMC approach has been undertaken as an endeavor to complete this project.
The methods of Social Media Marketing, Personal Marketing and Integrated Marketing have been addressed thoroughly by reading several research papers and its effectiveness, hence, Integrated Marketing Communication Plan has been selected. The choice of this particular method has presented a relationship between Marketing Orientation and Brand Orientation which is the requirement for the effectiveness of the Marketing plan to make the project Successful. To achieve the expectations and possibilities concerning research in this field, IMC seems to be the best available approach as it outlines online and offline forms of communication and liaising with clients to improve the brand image of the organization.
Figure 2: Project Flow A
Figure 3: Project Flow B
In the age of drastic changes, Enactus needs sustainable competitive advantage to cope with changes and to succeed. They can create, sustain and use competitive advantage through strategic management. We believe that Enactus Ireland should formulate strategies that their implementation results in sustainable competitive advantage. Marketing strategies seem to be an important type of these strategies. Traditionally, according to an integrated approach which integrates resource-based view (RBV) and market-based view (MBV), Enactus could develop marketing strategies based on their internal capabilities and external position. Thereby, implementing these strategies to create competitive advantage through their core competencies include creating value for customers, attracting and satisfying them.
Marketing strategies play two important roles to sustain competitive advantage:
1. encourage customers to return (according to market-based view), and
2. create distinctive competencies through making core competencies VRIO (according to resource-based view)
VRIO refers to Valuable, Rare, not Imitable and to be able to Organise. In today's turbulent environment, VRIO and customer retention are necessary but not adequate to sustain competitive advantage and achieve superior performance. Also, rather than being an activity oriented organisation, Enactus must be market/customer/student oriented, think and act based on innovative knowledge, make a useful and long-term relationship with their students. This qualification (VRIO) is for organisations like Enactus, that are able to be knowledge-based, formulate its marketing strategies and sustain its competitive advantage based on its own knowledge. In other words, its marketing strategy is intelligent. Enactus must consider innovative knowledge as a new input to sustain competitive advantage and to develop intelligent marketing strategy (more than internal capability and external position as existing inputs). In this project, we are going to contribute a new perspective to develop marketing strategy. It is sustaining competitive advantage and developing intelligent marketing strategy (IMS) through innovative knowledge to achieve superior performance.
Key activities and deliverables in the project is as follows:
Week 1 First Meeting with Client to discuss project scope and deliverables
Week 2 Submission of Letter of Engagement and Company Analysis Report
Week 3 Commencement of Project Work (Market Analysis)
Week 4 HOLIDAY BREAK
Week 5 Competitor Analysis
Meeting with Representatives from other Institutions
Fortnightly Project Review Meetings
Week 6 Meeting and Collaboration with a Club or Society in UCD
Submission of Interim Report
Week 7-8 Formulate a Marketing Plan in accordance with Club's or Society's Strategy
Fortnightly Project Review Meetings
Week 9-10 Develop a detailed schedule of Future events with the Club or Society
Submission of Final Report
Table 1: Project Schedule
4.2 Project Timeline
The Project Schedule, Plan and Timeline was made in collaboration with the representatives of Enactus Ireland and the work was distributed over a period of 10 weeks, of these one week was a holiday break and the work breakdown structure and Gantt Chart was developed to improve and implement clarity in communication and document sharing. The Project plan is as follows:
Figure 4: Project Plan
5.1 PESTLE Analysis
PESTLE analysis, as it stands, mainly provides a general idea about the macro environmental conditions and situation of a organisation. This analysis presents a model to address problems encountered in the measurement and evaluation process of PESTLE analysis. (International Journal of Business and Management; Vol. 7, No. 24; 2012). The result of which is used to identify threats and weaknesses which is used in a SWOT analysis.
Figure 5: PESTLE Analysis
5.1.1 Political Factors
These are about how and to what degree a government mediates in the economy. This can incorporate – government arrangement, political dependability or precariousness in abroad markets, foreign exchange approach, tax imposing strategy, labour law, ecological law, exchange confinements et cetera. It is clear from the list over that political factors frequently affect organisations and how they work together. Ihsan Yuksel (2012) implicated that, organisations should have the capacity to react to the present and expected future legislation law changes, and modify their marketing and promoting arrangement in like manner.
5.1.2 Financial Factors
Financial factors significantly affect how an organisation works together and furthermore how productive they are. Elements include – financial development, loan costs, exchange rates, inflation, disposable cash of customers and business et cetera.
These factors can be additionally separated into full macro-economic and micro-economic factors. Macro-economic variables manage the administration of interest in any given economy. Governments utilize loan cost control, tax collection policy and government use as their fundamental components they use for this. Micro-economical financial components are about the way individuals spend their earnings. This largely impacts B2C associations specifically. (Shilei and Yong 2009).
5.1.3 Social Factors
Otherwise called socio-cultural factors, are the areas that include the mutual belief and states of mind of the population. These elements incorporate – population development, age distribution, health cognisance, profession states of mind et cetera (Yüksel, 2012). These components are specifically noteworthy as they directly affect how advertisers comprehend clients and what drives them.
5.1.4 Technological Factors
We all know how quickly the technological scene changes and how this effects the way we advertise our items. Technological components influence promoting and the management thereof in three unmistakable ways:
• New methods for producing merchandise and services
• New methods for distributing merchandise and ventures
• New methods for communicating with target markets
5.1.5 Legal Factors
Legal factors incorporate - Health and Safety, approach openings, promoting standards, customer rights and laws, product labelling and product safety. It is clear that organisations need to realize what is and what is not legal with a specific end goal to exchange effectively. In the event that an organisation trades universally this turns into an exceptionally precarious territory to get great nation has its own arrangement of rules and regulation.
5.1.6 Environmental Factors
These factors have just truly gone come to the forefront edge over the most recent fifteen years. They have turned out to be essential because of the expanding shortage of crude materials, pollution targets, working together as an ethical and supportable organization, carbon footprint targets set by governments (this is a decent illustration were one factor could be classes as political and ecological in the meantime). These are quite recently a portion of the issues advertisers are confronting inside this factor. An ever-increasing number of buyers are requesting that the items they purchase are sourced morally, and if conceivable from a sustainable source.
Element Factor Business Impact
Political If the government revokes tax benefits for social entrepreneur investments. The major investments from the stake holder will be taken back and finding investments to the organisation will be herculean task.
Economic Funding from organisation, universities and charitable organisations.
In the stagnated economic condition continues performance and activities showing that the organisation is performing entrepreneurial training and interaction with universities which will bring in investments.
Sociological High number of students graduating with less job opportunities in the market. This might stop students from participating in the social events rather than finding jobs. It will be Enactus to grow more connections with the other organisations to place the Enactus students.
Technological Continuous presence in the social media Nowadays there are new social media interactions within the students are becoming more popular. If Enactus is not familiar with the trending apps and media. It will be tough to reach the students.
Legal Some ideas and process created by the students maybe already patented or registered with the intellectual property. If someone's ideas are used, there is a threat for Enactus to be sued by law suit of the original idea generator.
Environmental NIL NIL
Table 2: PESTLE Analysis
5.2 Marketing Mix
The ‘Marketing Mix' is a term used to describe a combination of tactics used by a business to achieve its objectives by marketing its products or services effectively to a particular target customer group. It is also referred to as ‘4Ps' – Product, Price, Place, Promotion, or the ‘7Ps' – the 4Ps in addition of People, Process and Physical Evidence, also called the extended Marketing Mix.
Enactus need to make sure that that they are marketing:
• The right product to
• The right person (students) at
• The right price
• The right place and at
• The right time
Marketing includes various activities. Regardless, an organisation may choose its target group of clients to be served. Once the objective target group customers are chosen, the product is to be put in the market by giving the fitting product, value, distribution and promotional efforts. These are to be joined or blended in a fitting extent in order to accomplish the advertising objective. Such blend of item, value, distribution and limited advertising objective is known as ' Marketing Mix' (Mc Carthy, E. J. 1960).
Marketing Mix is the set of controllable factors that the organisation can use to impact the buyer's reaction. The controllable factors in this setting allude to the 4 'P's [product, price, place (distribution) and promotion]. Each organisation strives to develop such a structure of 4'P's, which can make largest amount of buyer fulfilment and in the meantime, meet its hierarchical goals. Accordingly, this blend is gathered remembering the necessities of target customers, and it shifts starting with one association then onto the next relying on its accessible assets and advertising goals (Kotler, P. 1999). Give us now a chance to have a short thought regarding the four segments of advertising blend.
Product refers to the merchandise and service offered by the organisation. A pair of shoes, a plate of noodles, a lipstick, all are products. All these are purchased in light of the fact that they fulfil at least one of our needs. We are paying not for the tangible product but rather for the advantage it will give. Thus, in straightforward words, item can be portrayed as a heap of advantages which an advertiser offers to the customer at a cost. While purchasing a pair of shoes, we are really purchasing comfort for our feet, while purchasing a lipstick we are really paying for beauty since lipstick is probably going to influence us to look great. Product can likewise appear as a service like an air travel, telecommunication, etc. In this way, the term product refers to goods and services offered by the organisation available to be purchased (Kotler, P, 1967).
Price is the amount charged for an item or service. It is the second most vital component in the marketing mix. Fixing the cost of the item is a dubious occupation. Many factors like demand for an item, cost, customer's capacity to pay, costs charged by competitors for comparable items, government regulations and etc must be remembered while fixing the price. Indeed, pricing is an exceptionally vital choice area as it has its impact on demand for the product and furthermore on the profit of the organisation.
Products are produced to be sold to the customers. They should be influenced accessible to the buyers at a place where they too can conveniently make buy. Woollens are made on a large scale in Ludhiana and you buy them at a store from the close-by showcase in your town. Along these lines, it is fundamental that the item is accessible at shops in your town. This includes a chain of people and establishments like merchants, wholesalers and retailers who constitute company's conveyance arrange (additionally called a channel of circulation). The organisation needs to choose whether to pitch specifically to the retailer or through the merchants/distributer and so forth. It can be even arrangement to offer it directly to customers.
If the item is manufactured remembering the customer needs, is properly evaluated and made accessible at outlets convenient to them however the customer is not influenced mindful about its to value, highlights, accessibility and so forth, its advertising exertion may not be effective. Accordingly, promotion is an essential element of marketing mix as it refers to a procedure of illuminating, inducing and affecting a customer to settle on decision of the item to be purchased. Promotion is done through methods for individual Selling, advertising, publicity and deals promotion (Alchrol, R. S. 1991). It is done for the most part with a view of personal selling, advertising, publicity and sales promotion of an item. It stirs potential customer's enthusiasm for the product, contrast it and contenders' item and settle on his decision. The expansion of print and electronic media has massively helped the process of promotion (Kotler, P.,1999).
Figure 6: 4Ps
The creation of an apt Marketing Mix is a result of Customers' Needs, Cost to Customer, Communication and Convenience, also known as ‘Customer Centricity' or the ‘4Cs'.
Figure 7: 4Ps to 4Cs
McCarthy's 4Ps model was originated in the 1960's when homogenous mass marketing could be effective. This model was particularly useful in the early days of the marketing concept when physical products represented a large portion of the economy (Goi, 2009). In the new changing society, the focus is on the consumer, who is very savvy and with many demands on his time. In this framework, Lauterborn (1990) proposed the 4Cs model, which places the focus determinedly on the customer's perspective rather than your agribusiness and attempts to better fit the movement from mass marketing to niche marketing. This does not mean that the 4Ps are not important, but integrating both the 4Ps and 4Cs into the marketing strategy will help effectively build a strong brand (Smith, 2003).
126.96.36.199 Consumer wants and needs (rather than Product)
You cannot sell whatever you can make anymore. You cannot develop products and then try to sell them to a mass market. You can sell what someone specifically wants to buy. You have to study and understand consumer wants and needs through ongoing survey and feedback so that you can provide massive value back to them; substantial inputs should be taken from primary market research. Then attract them one by one with something he/she wants to buy. “Build” the product for them. As the legendary management Guru Peter Drucker once said: “The purpose of a business is to create and keep a customer.”
188.8.131.52 Cost (rather than Price):
Understand the consumers' cost to satisfy their wants and needs. Price is only a part of the total cost to satisfy a want or a need. Cost involves finding out what sacrifices a consumer must make in order to buy a product. The total cost will consider for example the cost of time in obtaining a product (driving to your place), the cost of conscience by consuming that or even the cost of searching the product. Many factors affect cost, such as the consumer's cost to change or implement the new product and the cost for not selecting a competitor's product. “Value is no longer the biggest burger for the cheapest price. It's a complex equation with as many different correct solutions as there are subsets of customers.” (Lauterborn,1990).
184.108.40.206 Convenience to buy (rather than Place)
The goal of the third C is to make the purchase of a product as convenient as possible for the consumer. In the era of Internet, e-commerce, catalogues, credit cards and phones, consumers neither need to go anyplace to satisfy a want or a need nor are limited to a few places to satisfy them. Convenience takes into consideration the ease of buying a product, finding the product, finding information about the product, etc. The focus should be on how easy it is for consumers to buy/acquire a product instead of how easy it is for the agribusiness to distribute the product. “Think beyond those nice, neat distribution channels you have set up over the years. Know how each sub-segment of the market prefers to buy, and be ubiquitous.” (Lauterborn,1990).
220.127.116.11 Communication (rather than Promotion)
While promotion is “manipulative” as it is from the seller, communication suggests an exchange of ideas between the buyer and the seller; therefore, it is “cooperative.” Communication is a two-way, interactive and relationship based process which aims to create a dialogue with the potential consumers based on their needs and lifestyles. It is about “listening and learning”, “giving and taking” instead of one-way communication of “telling and selling” (i.e. promotion). There are different forms of communication, like advertising, public relations, personal selling, social media and any other form of communication between the business and the consumer.
Enactus' current Customer Centricity is as follows:
Figure 8: 4Cs
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