[Author’s Name]
[Institution’s Name]
The entire world is moving with a robust and effective pace and the essence of entrepreneurship and industrialization are increasing heavily in all over the world. Entities are now in a state of war in getting an upper edge over its competitors and other peer companies by employing effective strategies. Without any doubt, all of these things and actions are more than essential for an organization to increase its financial and economical belongings with perfection (John Rossiter, Peter Danaher 2005).
Organizations usually have numerous departments and every department deems extremely important for the sake of the company because it crippled up or accelerate the pace of flow of funds (FOF) towards the company in total (Matteo Fabbi 2013). Marketing department is the most important department from the viewpoint of an organization as it is directly associated with the net income of the company. A well established and effective marketing department would certainly assist a company to have high amount of net income provisions. There are numerous concepts, which specifically stride under the name of marketing management and among them, the name of personalization is one of them (Matteo Fabbi 2013).
Personalization is basically a concept which used the technology to accommodate the things individually. It is one of the major concepts of marketing used for different provisions in a company. Personalized marketing which commonly known as Personalization or one to one marketing is known as an extremely form of product based differentiation, wherein the products would be differentiated by competing with each other. Personalization is basically a concept which tries to make unique product offering for each of the customers of a company. Personalized marketing is also known as Internet marketing and had been the most practical in the interactive media such as the internet (Jack Zanville Sissors, Roger B. Baron 2002). The concept of personalization is an important provision from the standpoint of an organization and companies could get certain added advantage with the help of personalized marketing in total. Firms would enhance their productivity with the help of one to one marketing, as it is one of those approaches which is used to interact accordingly with the customers directly. Organizations can have a detail idea about their consumers and the products they are wishing to have from the companies in total. Personalized market is one of the most effective ways to promote the products and services of a company to the customers. With the help of this particular strategy, organizations can enhance the level of productivity of their company as it will enhance the customer satisfaction level as well. It is also observed that the consumers which are more satisfied with a certain product are those customers which will consume the product of a certain company.
Firms should go for developing the personalized marketing by analyzing the customers and products of a company in total. Companies should focus in initializing the marketing strategies of the products of the company vary from consumers to consumers. According to the article of Garbiano and Lee regarding dynamic pricing, it is found that having dynamic pricing for products of a company would not be worthwhile as it identifies that the company is not stagnate. Price discrimination would come into place if dynamic pricing strategy would be considered and the type of discrimination would be like 2nd degree discrimination in which the consumers would be focused for different products and pricing strategy. Marketers should consider the static pricing strategy in total for the company’s productivity.
References
John R. Rossiter, Peter J. Danaher (2005). Personalized Marketing, Volume 1. Chicago: Springer. p26-32.
Matteo Fabbi (2013). Personalized Marketing. New York: GRIN Verlag. p10-18.
Jack Zanville Sissors, Roger B. Baron (2002). Personalized Marketing. Houston: McGraw-Hill. p34-42
