With the increase of fierce competition, marketing is an important tool to run every business successfully. The process of marketing in franchising is another area which if planned strategically is sure to give an edge over other competitors in the marke
Marketing is a strategic tool to develop every business. A strong marketing strategy is the need of the hour, without which a business cannot run successfully in the market. A franchising business is a twofold marketing strategy, in one way it boosts the sales of the parent company and in another way it also takes care of the franchised outlets. A franchisor is involved in the promotion of the brand at the national level while its franchisees at the local level. According to Rajeev B. Sharma, Country Head, Unicon Investment Solutions India says, “A good marketing plan is a written document that details the necessary actions to achieve one or more marketing objectives.” In this article, we have discussed a number of factors that must be taken into consideration to plan the marketing process efficiently.
The concept of marketing is of a great help to the franchisor and the franchisees to bring value and assure profitability to the franchising business. The marketing plan is customised to understand the needs and demands of the customers and satisfy them equally. The process of marketing involves situation analysis, marketing strategy, marketing-mix decisions, implementation and control.
Thus, we see that marketing process is an integrated process through which companies operate and fulfil its business targets. It’s well said that business and marketing are interdependent and complementary to each other and when done tactfully can help you meet the desired business targets.