DYNAMIC MARKETING - A Response to the response

DYNAMIC MARKETING –  Dynamic marketing is the need of the hour for the marketers to understand. It is a response to the market, we live in a dynamic world where consumers expectations are changing rapidly, Today its either one to one or one to none. Market dynamics are the factors that affect a business model. It simply tells us about the basic concept for supply, demand and pricing models of economic. When there is a change in the supply and demand for the product in the market, the price signals are created which prompts marketers to make changes temporarily according to market needs. The dynamics may the price of a single product, whole production line, national or international stockpiles. The basic relationship between supply and demand is the principal force behind in setting the prices for goods and services. The marketing dynamic simply determines when the price increases, how will consumer react, Suppliers reaction to the change in demand and changes in the supply-demand relationship affects the other product and consumer groups.

Businesses must continuously work together to keep their standards high if they need to attract customers and retain their position in the market.  There is certain authenticity to communications that are personalized which makes them more engaging and successful. Dynamic Marketing speaks the ability of an organization to reach the right prospect with the right message at the right time. It will help the organizations to create a stable competitive advantage. Enterprises that create competitive advantage, mainly achieve their position thanks to a simultaneous increase in operational effectiveness, expansion of new markets and development of their assets (Sirmon, Hitt, Ireland 2007).

Dynamic Marketing steps to follow to increase your sales and profits.

1. Never sell just the Benefits: most of the time people fear for the loss more than they desire to gain. Customers want your services or products to enjoy the benefits it provides, but interestingly want it, even more, when you remind them again and again what they will lose by not buying it.

2. Always use surprises to close the sales: Keep this your thumb rule to give unpleasant surprises to kill the sale. But a surprise can help to close a sale.

3. Fast Services even if you are unable to: The fast you deliver your products or services the more sales you will get. If you cannot deliver any part of your services or product immediately then add something to the purchase that you can deliver immediately.

4. Make a buying process easier: In the buying process, every essential action is an opportunity for customers to reverse back there buying decision. You always should look for ways to make your buying procedure easier and faster.

5. Offers without lowering your price: you don’t have to always reduce your prices to improve your sales process. Load it up with bonuses while keeping in mind that your bonuses are highly perceived value to your customer doesn’t matter if they cost you little or nothing.

6. Always keep your advertisements up to date:  Position based advertising or marketing is not used by marketers as the modern generation doesn’t believe in buying those things that are not of relevance to them. It's very important to make changes in your advertisement at regular intervals. If you don’t change your advertising strategies you will eventually lose sales. One thing should be kept in mind don’t abandon advertisement that’s working but keep trying to improve it.

7. Competitors and alternative marketing: Always look for innovative marketing ideas with a positive attitude. This has proved to be a very effective and very low-cost way to generate leads.

8. Handle Customer queries quickly: Always handle customer queries quickly with a positive attitude. The best thing is to preserve your relationship with the customers instead of reaping profits immediately. They will reward you with repeated sales and referrals.