Perfumes Guyana offer both products and services satisfying the functional and emotional needs of its customer by delivering high quality products with unique selling proposition and excellent customer service complimenting the process. Marketing plays an important role in building awareness and as such a variety of media channels are used to target various audience. This report analyses the main distinct features differences of consumer preferences and marketable strategies applicable to increase awareness of intangibles.
An element of the marketing mix is Product. According to (Philip Kotler)”Product is anything that can be offered to someone to satisfy a need or a want” while( William J. Staton) explains that “A product is a set of tangible and intangible attributes, including packaging, color, price, manufacturers and retailers prestige and services, which the buyer may accept as offering satisfaction of wants and needs.” Perfumes Guyana offers tangible products such as colognes and perfumes which can be held, seen, felt and smell and satisfy the needs of the user. Customers purchasing these products can return items for an exchange if not satisfied maybe they purchase a wrong fragrance. Upon completion of payment, ownership is transferred the moment transaction is completed. These products are considered perishable having a long life and can be stored for later use. Beside its physical appearance, a product has many dimension. According to Philip Kotler, “The consumers will favor those products that offer most quality, performance and features.” Each product has a life cycle including the introduction, growth, maturity, and the sales decline phase. Utilizing the 4 P’s in the marketing mix allows the company to create a competitive advantage over its competitors.
According to Philip Kotler, “A service is an act of performance that one party can offer to another that is essentially intangible and does not result in the ownership of anything. Its production may or may not be tied to a physical product.” The cash cow of Perfumes Guyana includes lotions, body mist and perfumes, accompanying these includes professional customer assistance and testimonials. The 4P’s combined with people, physical evidence and processes is generally used in the service industries. Services are inseparable from their users since they are consumed at the same time they are offered, for example, a hair cut from the barber. Once the hair cut is completed the service cannot be returned to the service provider because of the intangibility. The quality of service can be determined based on the consistency or may be difficult to compare due to different service provider. Unlike a product, service has shorter shelf line.
Table below shows comparison of a product and service.
BASIS FOR COMPARISON PRODUCT MARKETING SERVICE MARKETING
Marketing mix 4 P’s 7 P’s
Sells Value Relationship
Who comes to whom? Products come to customers. Customers come to service.
Transfer It can be owned and resold to another party. It is neither owned nor transferred to another party.
Returnability Products can be returned. Services cannot be returned after they are rendered.
Tangibility They are tangible, so customer can see and touch it, before coming to the buying decision. They are intangible, so it is difficult to promote services.
Separability Product and the company producing it, are separable. Service cannot be separated from its provider.
Customization Products cannot be customized as per requirements. Services vary from person to person, they can be customized.
For competitive edge in Perfumes Guyana, the marketing department must dedicate time to make intangibles tangible. Being more innovative and using different marketing strategies can differentiate the services offered from that of its competitors and at the same time attract a wider audience and build brand loyalty.
Store employees are the intrapreneurs and the ones interacting with customers on a regular basis. Excellent customer service can be portrayed through constant training and motivation from management. People is an element of the marketing mix theory which contributes to the overall success of the company. Perfumes Guyana can implement a reward scheme for “employee of the month”. This initiative would recognize employees who have displayed exceptional manner by exemplifying outstanding service through his or her work and exhibiting a positive and supportive attitudes. Once the employee fulfill the criteria necessary for the title, the picture of the staff can be displayed on the wall visible to customers. This form of recognizing staff will boost their performance and allows customers to feel more welcome and appreciated. This will prove that the company has acknowlegable workforce readily available to offer solutions and advises to assist customers in satisfying their needs and wants.
When customers place their orders, they expect to receive it on a timely manner. Perfumes Guyana offers free delivery service to its customers. The marketing department can focus on adding “free delivery ” on the customer’s invoice, on their social media page, face to face interaction and bumper stickers on company’s vehicle. This message will be seen and acknowledge by customers reassuring them of timely delivery. Providing such services the company should under promised and over delivered which will delight customers and create loyalty.
Testimonials can be incorporated into the marketing strategies of Perfumes Guyana. Nothing can be more persuasive than a customer who is loyal and a believer in a brand. The marketing department can seek permission from loyal customers to share their shopping experience. This message can be uploaded to the company’s social media sites, publish in newspaper and even on television. Building awareness and market share can be guaranteed from such strategy since the customer would be able to express and convince others of the products and services offered.
Generally, Perfumes Guyana offer both goods and services. However, they do have significant differences in terms of tangibility and intangibility. Tangible goods are easier to market and fulfil a need unlike a service which require the use of tangible elements to build relationships. Technology has impacted the company significantly ans the marketing department can utilize the opportunities available to competitive.