Marketing Management

1. The role of marketing in a business’s overall strategy is to make a business success, run a business long life and also generate revenue by conducting an effective market research. A market research should be carried out to find the consumer’s needs, market trends and competitive forces from time to time. A market research can help to form a proper decision about product development which helps to target and develop more types of product, pricing strategies which is crucial by helping manager to study the competitor’s pricing and perceived value so that can decide the product selling price, place of product distribution which help to plan where to distribute the product and services to the targeted customers and also promotion by giving the customer offer are also classified as roles of marketing. Besides these, brand management which make brand to be known by customer and budget management which can help to allocate capital correctly are also important role in marketing. Market analysis which required the monitoring of customer behaviour so that the company can make changes accordingly and competitor analysis which will let the company know the strength and weakness of the competitors also classified as importance marketing role. The last role is customer relationship management (CRM) which can help to obtain the customer feedback.

2. Businesses can use the customer feedback and surveys to capture marketing insights and improve their product or services by carry out the following steps. Step 1 is collecting data from various sources or use tools like Google Analytics. Step 2 is customer profiling which study the background of the customer and next is competitive analysis which make us more understand competitor’s strengths and weaknesses. Step 4 and 5 is important which require to carry out a market research and obtaining the customer feedback. The next step is A/B testing which help you to compare which marketing strategies is better and more alert to customers. Step 7 is sales and conversion analysis which helps allocate Res effectively. Step 8 is analyse the performance of content and step 9 is to use marketing automation tools to track and analyse customer journey. The next step is data visualisation which displays the data in easier ways and last is getting feedback from sales teams which provide valuable insights. Examples of companies that have successfully utilised customer feedback is Apple, which follows up and called customer who score 6 and below and DBS Bank which has a customer experience council to addresses customer needs.

1. Marketing plays importance role in enhancing brand awareness. Activities like social media campaigns and advertisements will introduce people to a company's brand and this will increase its visibility. Consequently, individuals are more likely to consider the brand when making purchasing decisions. Moreover, marketing enables companies to understand customer needs. Through market research, organizations can identify their target audience, comprehend customer buying behavior, and preferences. This knowledge help in tailoring products to meet customer demands effectively. Other than that, marketing increase market expansion. Retaining existing customers is simpler than acquiring new ones. Thus, marketing efforts enable companies to reach diverse audiences, exploring new markets and opportunities.

2. Customer feedback and surveys serve as valuable tools in identifying market. By monitoring the emerging trend or technologies, companies can adapt to changing market demands. Such as example Netflix know that people now days like to watch video through mobile phone, thus they develop apps so that people can access Netflix whenever they go.

Other than that, customer feedback and surveys play a crucial role in improving customer services. By observe what customer need and complaint, company can provide better services to the customer. Such as example, Lazada tend to give better service to customer by provide good interference on it website and smooth shopping experience based on their user feedback.

Additionally, monitoring feedback and sentiment on social media channels enables companies to engage in social media listening. By being aware of mentions and comments about their products, companies can stay connected with their audience. Such as example Nestle Corn flake are aware with people in media social that like to share recipe and responded by creating relevant recipes using their product to make the brand relatable to consumer

1. Marketing plays a crucial role in the development of a business. A business or corporate would not be able to capture the attention of the target audience without conveying the message to the target audience through the communication channel. For instance, one of the reasons contributed to the failure of Nokia is ineffective communication. Nokia failed to communicate the value proposition of their products leading to the lack of awareness from the consumers.

Furthermore, marketing involves strategy planning towards achieving the organizational goals and gain profit from the sales of products or services. The key factor to understand the consumer behaviour and market trends is by conducting marketing research to analyse the needs of the consumer. A company will not have a proper direction without understanding the needs and wants of consumers and the competitive forces which threaten the profitability and market position of the business.

Thus, a successful marketing management will not only increase a company's profit, but also understand and retain a good relationship with the customers and society. It leads businesses to have a clear picture of the market and seize the opportunities to compete with their competitors.

2. Survey is one of the most common ways to collect customer feedback. The information collected from the survey and customer feedback is the end user experience which is relatively helpful in product development and suggestions for improvements. For example, a restaurant could use customer feedback to identify the preferences of the customers and improve the taste of the food. In the mean time, the restaurant could be innovative and stay ahead of their competitors.

One of the examples of a company that successfully utilized customer feedback is YouTube. YouTube conducted a survey by using the pop-up function to ask for the opinions of users. The users were asked to rate the video in order to provide a clear insight to YouTube for having more personalized video recommendations.

Besides YouTube, Starbucks do appreciate the feedback from customer by introducing a customer-centric feedback campaign, My Starbucks Idea. It is an online platform for Starbucks to gather responses from users around the world and enable consumers to communicate and discuss ideas to enhance the experience with Starbucks. The effectiveness of this campaign is not only to create product innovation for Starbucks, but also to engage the consumers to increase customer loyalty.