Richard Keith Latman is a former professor at the Graduate School of Business Administration. He has a Doctorate in Marketing and Economics. Latman began his career as a marketing executive at Fleishman-Hillard. Which later became Agilent Technologies. He worked as a market research analyst and financial analyst. Alliant Techsystems and QIC.
The Philosophy of Marketing. “All businesses must realize that businesses are inherently social entities. Only when all aspects of the business. Are understood, can any enterprise hope to succeed? The principles of marketing must be followed.”Richard Keith Latman gives us a very basic idea. Of what marketing is and how it works. His insights can help you begin to understand what marketing is all about. One of the benefits of Richard Latman is his approachable style and his clear explanations.
The Fundamentals of Marketing
Customers are a crucial component of all businesses. Understanding the customers is the first step in knowing how to serve them. Latman also explains the role of the marketing organization in marketing. Understanding customers is an essential element of the company’s business strategy. There are three types of customers those who are customers. For now, those who are customers. For the future, and those who are competitors.
Customers who are now are those customers who enter the store today. Batman discusses the roles of display space, information. And incentives in helping customers do what they do best. These customers could be family members or their children. Others may come into the store from the internet. Many customers are repeat customers. In this case, Richard Latman mentions incentives, promotion, and technology.
Who are customers for the future?
He explains how to display space and other variables. That affects these customers and the products they buy. Also discussed are indirect customers. Such as workers in a facility or people who drive through the store. An example of an indirect customer is a credit card company employee. Retailers must offer them good rewards or a discount. They may also shop only online.
Customers who are competitors are the customers whose products. Or services compete with the company’s history of service. Richard Latman begins by discussing this type of customer. Their actions may not always be direct, but they may still compete. These customers are the types who ask about the company and its products.
Another group of customers is the competition of Richard Keith Latman. They are quite different from the competition of competition. The competition of competition generally has different needs. Then the customers who are direct competitors. The customers who are direct competitors are busy. And seek the services of the company as much as possible. These customers might be on the internet. Or they might be visiting the retail store.
Who are the competitors?
Direct competition is a very different group from direct competitors. They are focus and can see the benefits of the products or services of the company they are competing with. They are the types of customers who are most important in the company’s growth. Richard Latman discusses the four types of customers in his book. The Fundamentals of Digital Marketing. He explains how they fit into the balance sheet. There are three types of customers. Customers are identifiable in some ways, while others are hidden.
Each type of customer is identified as an Independent. Contractors, Circumventors, and Contingency Customers. Independent Contractors are individuals. Who enters into contract negotiations to provide goods or services. Yet are not actual customers of the company. The Circumventors or Contingency Customers are also not customers but are interested in the company’s product or service. In his book, Richard Keith Latman goes into great detail on the issues of successful retail marketing. He explains the role of the manager in retail marketing, the company’s personality. And objectives, and how marketing affects performance. In a very short volume, this excellent book provides. A very good overview of the concepts involved in retail marketing.