MARKETING: AN IMPORTANT ASPECT IN CUSTOMER ACQUISITION, IN SPITE HAVING A GREAT FRANCHISED BRAND.
Small Enterprise|March 2020
MARKETING: AN IMPORTANT ASPECT IN CUSTOMER ACQUISITION, IN SPITE HAVING A GREAT FRANCHISED BRAND.
I have travelled almost all over the country and I have seen an important phenomenon across all markets. You will find almost all the competing brands positioned in the same market and they will be stone throw away or next door or ground floor or first floor and this give the opportunity for the consumer to choose from the choices that they have to pick their stuff from.

For example you find the jewellers, the hair salons, QSR format restaurants, the clothing retail stores and the supermarkets, computer hardware companies and why in those days, the kirana stores which were close by each other by providing the consumer the opportunity. But have you ever wondered how do they are survive in this very highly competing market and each franchisee needs to make his money after he puts up the store.

We need to look at 2 things clearly: 1. the franchisor through its national advt campaign or ATL (Above the Line) should keep attracting the customers to the store as a reminder 2. The local franchisee needs to understand the location and would have worked out the profiling of his customers through the POS software or the CRM he has installed and comes with the local marketing plan and should execute the BTL ( Below the Line) activities.

The consumer has a choice to buy from anywhere he wants but the factors that allow him to come to a particular brand many be due to many reasons.

  • The product or the services that was of great need to the consumer.

  • Marketing the new offers given on a particular hour/day/month/ season.

  • The ambience of the store and having the feel-good factor to enter the store again and again.

  • It could be because of the sales manager or the customer relationship executive who has taken care of the customer building a great rapport and many other reasons.

How do we continue to hold the customer with each and every coming out with various attractive marketing plans. Buy 1 get 1 free, buy for 5000 and get 2000 gift voucher, go for a trip if you shop for x value, take a lucky dip and fly out etc.

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March 2020