Cost-effective Marketing Strategies for Businesses, Employees and Customers

Book excerpt: Marketing is generally an expensive practice of facilitating exchanges of values, goods and services to maximise benefits for the stakeholders. In most cases, the return on marketing investments is minimal or fails to justify the endeavours. This book introduces cost-effective marketing strategies that require minimal organisational resources to achieve organisational benefits including financial outcomes and the wellbeing of employees and customers. These strategies are approached from 1) the human perspective; 2) the product perspective; and 3) the technological perspective, for instance, the use of artificial intelligence. This book begins with addressing employee wellbeing and performance, followed by customer wellbeing and loyalty with non-organisational factors. For employees, this book discusses how employees’ personal traits and volitional activities can shape their wellbeing and performance, and subsequently organisational wellbeing. Subsequently, this book discusses how customers’ mindfulness, self-determination, social motives, and volitional engagement are related to their relationships with business organisations. Moving from customer psychological antecedents, the book discusses how product traits and external forces influence consumer purchases.