Marketing Marvels

Delighting the customer

Hiran H.SENEWIRATNE

The world of marketing is challenging and most people think that marketing is only about advertising and persons selling goods and services. These are just two of the many marketing activities.

But in general, marketing activities are all those associated with identifying the particular wants and needs of a target market of customers than going about satisfying those customers better than the competitors.

Marketing involves doing market research on customers, analysing their needs and then marketing strategic decisions on product design, pricing, promotion and distribution, People's Bank Head of Marketing and Public Affairs Deepal Abeysekera said.

Q: As Head of Marketing of People's Bank one of the biggest State owned banks in the country, what is the biggest challenge facing your organisation in the market?

As I think in today's context we have to understand who our competitors are. They are non-other than our own customers. Because customers' choice and taste are changing. Our offering today will not be relevant for tomorrow.

We also need to understand the customer and give him the best. What he wants on the other hand is necessary. We need to constantly fine-tune our offering.

We need to keep pace with customers' preferences and taste. We could face these challenges by listening to the customer, while talking to them which is interactive marketing. We have to keep communicating with them constantly. We also must make sure and keep avenues open to get feed back on customers' experience on our offering.

We also need to go beyond getting your 4 Ps right (Product, Price, Place and Promotion). In no time, we will be brushed aside in the market by our customers due to the changing nature of its demand.

What is best for the customer today is not enough to be good enough for tomorrow that is because lifestyles are changing. Brands must focus on creating fresh connections with the customer, which is known as experimential marketing.

Q: What is the availability for marketing knowledge for decision- making?

Marketing environmental decision-marking should be sensitive to the changing nature of customers' behaviour. If this is not the case, business offering will get obsolete fast. The way that one can make sure this knowledge is present in the environment is to have marketing experts in the team.

The key issue is whether the market is involved in the decision- making process itself, which is associated with marketing thinking.

Q: How do you think of the availability of marketing talents in Sri Lanka?

One cannot simply expect marketing professionals to be abundant without the support to develop professionals. Therefore, organisations embrace marketing for its owned survival and providing opportunities to young people in developing their organisations bringing up a new generation of marketers. Our senior marketers should guide and mentor and convince young marketers to take up to the profession. So the industry and senior marketers both have a role to play.

Q: How would you invest in branding?

Group offering into categories are more practical in handling of the product which is practical. The co effort in a marketing exercise should be in strong branding. Let it be product service organisation or personality. Individual brands need to exist on its own on-dedicated efforts, while synergies of categorisation add to its position.

Q: How does current day marketers see the global financial crisis?

In any exercise, marketing or otherwise, the winner should be the customer. So it is important to recognise the effect of different bubbles to our customers and markets. Though we are not closely linked with the international financial market as a nation, our trade will be affected. Specially the export related trade. This will have an impact on our economy and it will ultimately reflect on the purchasing power of individual customers.

Q: What do you mean by best marketing practices?

We believe in giving our customers different market segments and this different needs and wants we believe in delivering into customers in the most efficient manner.

Q: What do you think of the quality of our practising marketers in the country?

We have proved our marketing professionals' meet global demands in the profession. Sri Lankan marketers are represented world over. This may be because the Sri Lankan culture is sensitive to the feelings and needs of the other, since we are a hospitable nation.

Q: There is a belief that marketing professionals are not financially conscious. What is your opinion?

The purpose of a business is profit. The objective of marketing is derived from this profit by maximising customers' satisfaction. If the profits are forgotten a business cannot exist. Therefore it is essential for marketing professionals to be aware of the profits and cost efficiencies.

Q: How important is it for marketers to get into the Boardroom?

As a core business function in any dynamic organisation the presence of marketing personnel should be ensured in an environment to link the business work with customers. Software and technology and technical knowledge are not substitutes to this or cannot fill that gap.

Q: What is your advice to budding marketers?

Happiness makes this world a beautiful place to live for everyone. Marketing is all about delighting the customers. So your effort should be very sincere in bringing this satisfaction to your customers with sustainable growth in your business.

Every minute you spend demands that you are totally dedicated to the profession.