A study on Customer awareness and growth of fusion marketing


By

Mr. C.Kandasamy
Asst. Professor
Advanced Management College
18th KM Bannerghatta Road, Bangalore-83
 


Abstract

"Fusion marketing is a strategy where two or more business firms come together to jointly share their resources for achieving a common marketing and promotional goal". It is an important strategy that integrates all the marketing activities to create a win-win situation for all the businesses that are involved. Fusion marketing enhances the coverage of advertisements and decreases the marketing budgets by distributing the marketing expenditure between one or more business partners. The purpose of fusion marketing is to work with other likeminded companies to achieve and exceed one's targets and sales goals. Fusion marketing takes into consideration all the aspects of business and finds the area in which a collaborative effort will benefit the company.

A study on Customer awareness and growth of fusion marketing

Introduction:

Fusion marketing is based on winning the competition through cooperation between the likeminded businesses. Fusion marketing allows companies to focus their energy on working together instead of against one another. By using fusion marketing a company can use time more efficiently and achieve growth and maximise business potential. Some forms of fusion marketing are collaborative marketing, tie-ins, link sharing, contract/ lead exchange and co operative advertising. Fusion marketing also includes publicity, networking, advertising, sales and promotions.

Fusion marketing is increasing exposure and reducing marketing expenses by sharing costs with one or more businesses. The aim is for a business to work with other like-minded businesses to achieve and exceed their targets and goals. Fusion is a model based on Distinction over Competition, allowing you to focus your energy on working with others, instead of against them. By doing this you will realize a more efficient use of your time, achieve growth and maximize your business potential. Utilizing models of Cooperation to work together with like-minded individuals will aid you in better achieving your goals, as you will have a team to work with, and will be able to tap into their established network, which may introduce your business to new customers, while offering value added service to your own clientele.

Research Design

Research design is the plan, structure and strategy of investigations conceived to obtain answers to research questions and to control variance. The research design constitutes the blue print for the collection, measurement and analysis of data. It aids the researcher in the allocation of his limited resources by posing crucial choices.

Sample size:

Sample sizes of 200 respondents were selected for this study.

Sampling Method:

Simple random sampling has been effective for this study purpose.

Data Collection:

Data will be collected from both primary and secondary sources of information.

Primary Source:

All necessary information about the study has been collected from personal contact and discussion by using of Questionnaire method.

Secondary sources:

Data has been collected from both internal and external sources such as personal records, annual reports, published articles, websites, web links etc.

OBJECTIVES OF THE STUDY:

1. To study on the Co operative Purchasing Power.
2. To study on the Business Growth Goals in fusion marketing.
3. To study on the Effective Market Promotions.
4. To study on Fusion Sales.
5. To study on the increased Brand Exposure.

SCOPE OF THE STUDY:

The study helps to know the new marketing strategy that is FUSION MARKETING and also help to know its achievement of Growth and Sales.

LIMITATION OF THE STUDY:

a) Time was one of the major constraints for the study.
b) The sample respondents' response may not be true.
c) The interaction with the employees was very limited because of work schedule.
d) Analysis of the data collected is done on the assumption that the information provided by the respondent is true.
e) Employees were reluctant to give their answers.

TABLE: 1 Table shows the awareness about the Fusion Marketing.

Particulars

Number of Respondents

Percentage

Yes

164

82%

No

36

18%

Total

200

100%


ANALYSIS

From the above table it is clear that, 164 respondents are aware about Fusion marketing out of 200. Rest of the respondents is not aware about Fusion marketing.

GRAPH: 1- Graph shows the awareness about the Fusion Marketing.


INTERPRETATION

The graph shows that 82% of the respondents are aware about Fusion marketing, rest of the respondents is not aware about Fusion marketing. Fusion marketing is a new marketing strategy, so all are not aware about this.

Due to this, other analysis & interpretations are on the basis of 164 respondents.

TABLE: 2 Table shows the degree level of success or failure of Fusion marketing.

Particulars

Number of Respondents

Percentage

Success

154

94%

Failure

10

6%

Total

164

100%


ANALYSIS

According to the above table, the Fusion marketing strategy used that 154 respondents' organizations are success and others are failure.

GRAPH: 2 . Graph shows the degree level of success or failure of Fusion marketing.


INTERPRETATION

The above graph shows that, 94% of the organizations' Fusion marketing strategy is successful and rest of the 6% is a failure. The reason for failure may be due to improper selection of fusion partner.

TABLE: 3. Table shows the reason for selecting the Fusion marketing as marketing strategy.

Particulars

Number of Respondents

Percentage

Limited expenditure on marketing budget

33

20%

Helps in acquiring targeted customers

16

10%

Effective market promotions

49

30%

All of  above

66

40%

Total

164

100%


ANALYSIS

The table shows the reasons for adopting Fusion marketing strategy by the respondents' organization. Most of them gave combined reasons for it.

GRAPH: 3 . Graph shows the reason for selecting the Fusion marketing as marketing strategy.


INTERPRETATION

In the graph, 20% of the respondents saying that the reason for adopting Fusion marketing is "Limited expenditure on marketing budget" , 10% choose this because "It helps in acquiring targeted customers" , 30% choose because of "Effective market promotions" and 40% of the respondents giving  the above three reasons together.

TABLE: 4.Table shows possibility of Fusion marketing growth & sales of the organization.

Particulars

Number of Respondents

Percentage

To Great Extent

98

60%

To Little Extent

25

15%

To Some Extent

16

10%

Can't Say

25

15%

Total

164

100%


ANALYSIS

In the above table, 98 respondents have the opinion that Fusion marketing increases the organizations' growth & sale to a great extent. 25 and 16 respondents say that it increases the growth & sale to little and some extent respectively. 25 respondents say that they can't say whether it increases the organizations' growth & sales.

GRAPH: 4 Graph shows possibility of Fusion marketing growth & sales of the organization.


INTERPRETATION

 In this graph, 60% of the respondents have the opinion that Fusion marketing increases the organizations' growth & sales to a great extent. 15% and 10% of the respondents say that it increases the growth & sales to little and some extent respectively. 15% of the respondents say that they can't say whether it increases the organizations' growth & sales.

TABLE: 7 . Table shows Fusion marketing is a determinant for sales promotion technique or not.

Particulars

Number of Respondents

Percentage

Yes

123

75%

No

41

25%

Total

164

100%


ANALYSIS

According to the table, 123 respondents have the opinion that Fusion marketing is a sales promotion technique and others say that it is not a sales promotion technique.

GRAPH: 7. Graph shows Fusion marketing is a determinant for sales promotion technique or not.


INTERPRETATION

The graph shows 75% of the respondents having the opinion that Fusion marketing is a sales promotion technique and 25% of the respondents are opposing this statement.

TABLE: 9. Table shows Fusion marketing applicability.

Particulars

Number of Respondents

Percentage

Banking Industry

25

15%

IT Industry

25

15%

Food Industry

33

20%

All Industries

81

50%

Total

164

100%


ANALYSIS

In the table, each 25 of the respondents says that Fusion marketing is more reliable for Banking & IT industry, 33 respondents have the opinion that it is more reliable for Food industry and remaining 81 say that it is reliable for all industries.

GRAPH: 9. Graph shows Fusion marketing applicability.


INTERPRETATION

In the graph, both the 15% of the respondents says that Fusion marketing is more reliable for Banking & IT industry, 20% of the respondents have the opinion that it is more reliable for Food industry and others say that it is reliable for all industries. Most of the respondents say that Fusion marketing is reliable for all industries.
 

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Source: E-mail January 30, 2011

          

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