Individual Marketing - Definition, Importance & Example
What is Individual Marketing?
Individual marketing is the kind of marketing communication or promotion that is customized for individuals in a personalized manner by the companies or retailers mainly through technology. Individual marketing is often customized as per the individual customers. It is also known as Personalized Marketing. The demand can be directly communicated to the suppliers or manufacturers and they can be provided with customized products as per their demand.
Information technology has played a great role in indirect marketing where individual customers can be reached directly through phone and internet. By logging into the particular website or by calling to call center the customer can provide input about their choice and can get the customized product.
Importance of Individual Marketing
In modern world where customer has lot of choices and products to chose from, a customer may want to move away from generic offerings. Individual marketing focuses on an individual customer and the related attributes. Software and systems like CRM has made it possible for personalizing the promotion and marketing for an individual customer rather than rolling out same offers to all the customers. Through technology, a company creates experiences which are tailored to individual consumer based on their preferences, their past behavior, their previous orders and feedback.
Individual marketing becomes very important tool to stand out from other offers and promotions which a customer might get. Customers will recognize the brand better if they feel that the brand is making effort to connect at a personal level.
Individual Marketing Example
Dell has done very impressive work in individual marketing by offering the customers the freedom to design and configure their product.
Another example if of Pizza restaurants who give personalized offers to customers offering custom discounts on pizza of choice. Many companies also offer customized messages with discounts on birthdays or anniversary of the customer making the experience very individual focused.
Hence, this concludes the definition of Individual Marketing along with its overview.
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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