Why brand image matters for businesses? Brand image matters more than what most managers or entrepreneurs believe. Especially, in a hypercompetitive market environment, businesses cannot afford to keep it aside from the main picture. It is not just something you can leave to the marketing function and forget. Brand image is not limited to a …
What is Psychographic Segmentation and what are psychographic segmentation variables? In this post, we will discuss psychographic segmentation and its relevance in terms of marketing as well as the five variables used for psychographic segmentation and how marketers use them to understand their customers and creating marketing campaigns. Psychographic segmentation is the type of market …
Psychographic segmentation is the type of segmentation that is concerned with the psychological aspects of consumer behavior. It segments consumers based on psychological characteristics including personality, lifestyle, social status, activities, interests, opinions, and attitudes. While it may be a more complex process compared to demographic segmentation, businesses can find psychographic segmentation more useful in several …
In this post, we will discuss geographic segmentation and its examples. We will also discuss the pros and cons of geographic segmentation and how marketers can use geographic data to improve customer experience. Companies need to develop effective marketing strategies that can help them target the right customer segment, drive higher engagement and help improve …
Geographic segmentation in marketing: Definition, examples, pros and cons Read More »
In this post, we will highlight the importance of market segments for businesses in terms of marketing and sales, define market segments and its types, and how businesses can identify the relevant market segments to improve their marketing and achieve higher sales. Businesses need to understand their target audience and its needs and preferences to …
Identifying market segments and types of market segments Read More »
In this post, we will discuss examples of demographics and how useful demographic data is for businesses and how they can use this data for brining improved products and services to the market. Demographics are statistical data related to a population’s socioeconomic condition. They represent the various characteristics of a population like age, sex, race, …
In this article, we will define demographics, with examples and explain ways of collecting demographic data. We will highlight the importance of demographics in terms of business marketing, and decision making as well as their use in public sector for policy making. The term demographics is mainly used to imply the characteristics of a population …
What are demographics? Applications of demographic data Read More »
In this post, we will discuss the PDCA cycle or the Deming cycle which is an important strategic framework used for continuous improvement and a critical part of lean manufacturing. The PDCA cycle is a four-step iterative technique used for making improvements to products, people and business processes. In various regards it is like the …
The role of marketing is not limited to promoting products and services to an external audience. Marketing has acquired a much bigger role in the success of organizations. HR has also acquired a similar role and rather than just talent acquisition and nurturing talent, its role has expanded to focus on several more internal factors …
Discuss how marketing and HR partnership benefits the organization Read More »
A marketing plan is a useful tool for marketers who want to make their brand or product successful in the market. Companies and marketers use a marketing plan to achieve their marketing objectives successfully. The main objectives of a marketing plan is to develop a roadmap to the achievement of market goals successfully. It includes …
In this post, we will discuss marketing planning, the role of a marketing plan and its components. We will also discuss the importance of marketing planning and a marketing plan and how they help companies achieve their marketing objectives. Companies focus on marketing to win in a competitive market environment and to expand their business. …
Marketing plan, its components and the role of a marketing plan in product marketing Read More »
Chick-fil-A and the fast food industry Chick-fil-A is the largest QSR chicken brand in the United States based on annual system-wide net sales. The company has experienced strong revenue growth in 2021 compared to the previous fiscal. The QSR chicken brand enjoys strong popularity and brand loyalty in the United States. It has also continued …
Businesses strive to establish themselves and find growth in several ways. Once a brand has become famous, it can capitalize on its market position and popularity in several ways. when a company has found enough growth and achieved a sufficiently strong market position and brand image, it can offer a family of brands or several …
What are brand variants and what are their benefits Read More »
Customers have become the central focus of businesses in the twenty first century. A lot of information and control is there in the hands of businesses. It is why businesses have increased their focus on customer experience and customer service. Companies understand the value of being customer driven and several of them are known for …
How to be a customer driven or customer centric company Read More »
Businesses of all sizes use social media for promotions, customer engagement and increase sales. The role of social media in terms of business marketing and customer engagement has continued to grow. Now businesses of all sizes including big and small maintain social media accounts to reach their customers and grow brand awareness. However, the role …
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Today’s buyers are more informed and empowered compared to a decade ago. They have access to all the information they need to make a well-informed purchase. It is why the approach to marketing has also changed a lot. Rather than the use of techniques to push sales, the focus is on engaging the customer at …
AIDA: Attention, Interest, Desire, Action. It is important for both firms and marketers to understand customer journey and their buying decision behavior to successfully attract and retain customers. While there are several models in marketing to guide marketers in this regard, the AIDA model is among the most effective ones to create an effective marketing …
AIDA Model in marketing: definition, applications and examples. Read More »
Advertisements play a critical role in helping businesses develop and grow their market share. They help create demand and build brand awareness. Understanding the various elements of advertising helps business managers understand the limitations and capabilities of advertising and create better promotional campaigns. It is critical for marketing managers to know about the 5Ms of …
Products designed with the needs and wants of the target market in mind are mostly easier to sell. Such products also require less investment in marketing. However, people’s needs and wants change with time and as the needs and wants of the target market change, companies also need to update or replace their product to …
What is repositioning? Positioning is the process of creating the right place or position for your product in the mind of your target customers. It helps identify the distinctive position that your product will occupy. Effective positioning helps find success faster. While positioning is very important for your brand/product to be successful, it is also …
Businesses across various industry sectors maintain a heavy focus on marketing. Every year businesses all over the world spend a fortune on marketing and promotions. They do everything to beat the competition including promoting their products heavily through digital channels and social media. According to Statista, companies in the North American region spent $296.4 billion …
What are the steps in the market positioning process? Market positioning is a key step to help your product reach the right target market and achieve the expected success. It is a crucial step that ensures that your product reaches the right target audience and finds acceptance. However, creating the right positioning and differentiation strategy …
The interrelationship between positioning and differentiation in marketing Positioning and differentiation are two different but closely related topics in marketing management. They are connected in some important ways. Sometimes differentiation can lead to effective positioning. Position and differentiation both are strategic processes. Before proceeding to analyze the relationship between the two, let’s learn the definition …
How are positioning and differentiation interrelated Read More »
About Pepsico: A Brief Introduction Pepsi vrio analysis Pepsi is one of the leading brands in the soda industry with a strong global sales and distribution network. Its large product portfolio includes 22 billion dollar brands. The company is headquartered in Harrison, NewYork. Its leading rival in the global market is Coca Cola. The company …
Marketing is one of the most crucial functions inside any organization. Most large organizations appoint a CMO (Chief Marketing Officer) or a global marketing officer to head the marketing department. As the industry has evolved and demand patterns have changed the role of the CMO has also transformed a lot. Basically, the CMO’s task is …
A discussion of the role and responsibilities of the CMO Read More »
CONTENT VRIO Analysis Adidas VRIO Product quality Product range Marketing Manufacturing Customer experience Digital technology Brand image HR & Organizational culture Adidas (ETR: ADS) is a leading brand of sports shoes and apparel and among the main competitors of Nike. The company enjoys strong popularity and maintains a strong global presence. Apart from a large …
CONTENTS: About Nike What is VRIO? A VRIO Analysis of Nike Brand Image Marketing Customer experience Product innovation Product range Product quality Technology Manufacturing capabilities A few last words About Nike: Nike (NYSE: NKE) is the global leader in the sports shoes and apparel industry with a strong presence worldwide. Apart from being known for …
Small businesses can often find it challenging to build a brand due to their limited resources and budgets. However, the industry is full of such examples where entrepreneurs started businesses from scratch, which later became powerhouse brands. There are several brands in the industry that essentially started as small businesses like Lego. Having started off …
CONTENTS: RESEARCH APPROACHES FOR GATHERING PRIMARY DATAOBSERVATIONAL RESEARCHSURVEY RESEARCHEXPERIMENTAL RESEARCH Researchers rely on data and information to answer questions, understand specific issues, or for hypotheses testing. They can obtain the data from the subjects directly or from sources that already store the data. When the data is collected directly for the project from the subjects, …
CONTENTS: FIVE CORE MARKETPLACE CONCEPTS.NEEDS, WANTS, AND DEMANDS.MARKET OFFERINGS.VALUE AND SATISFACTION.EXCHANGE RELATIONSHIPS.MARKETS. Understanding the marketplace and customers is critical to winning in today’s highly competitive market environment. The leading companies invest heavily in this area and go to great lengths to understand their target market and learn about their customers’ needs, wants, and demands. It …
What are the major trends and forces changing the marketing landscape in an age of relationships? The world of marketing has undergone a significant transformation in less than a decade. It is being shaped and altered by several trends and forces. While it has already changed a lot, dramatic changes still happen every day in …
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In a previous post, I have discussed the purchasing decision process of individual buyers. In this post, I will discuss how the business buyers make their purchasing decisions and the steps involved in the decision process. There are generally eight steps involved in a business buying situation. Business buyers buying new products will typically go …
How do the business buyers make buying decisions? Read More »
Every marketer wants his new product to be successful. However, several factors influence the adoption rate of the innovation. Some products can gain acceptance overnight. For others, it may be difficult to win the market and gain fast adoption from consumers. Apple products are very good examples of products that gained adoption very fast right after …
Product characteristics and their impact on rate of adoption Read More »
Buying behavior can vary greatly from product to product, based on the level of involvement and degree of differences from brand to brand. For example, buying behavior for milk, toothpaste or bread will be different from that for carpet or smartphones. In the case of more complex buying decisions, there will be more buying participants and …
The marketing function in an organization wants to create marketing strategies that will successfully engage customers and build profitable relationships with them. However, a key question that arises in this regard is what philosophies will guide these marketing strategies. What should be the top concern when creating a marketing strategy? Should the interests of the …
About marketing: Definition and goals. Marketing is all around you in a host of forms, including traditional forms as well as several modern and innovative forms like websites, apps, videos, and social media. Of all the business functions, marketing is the most customer-facing function. The simplest definition of marketing according to Kotler is engaging customers …
Launching a new business can be exciting, but that doesn’t mean it’s without its share of challenges. There can be many different aspects of running a new business that can feel overwhelming, and figuring out how to market your new business effectively is one of them. While it may not always feel easy, the good …
Rebranding your business isn’t a fly-by-night process. It isn’t something to do when you’re bored or tired of seeing your logo. Or have this off-hand idea for a new website design or line of products. The choice to rebrand your business should be rooted. When you have a new vision for your business, a different …
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If your business has a marketing and sales team, then it goes without saying that you work for (or with, or own) a customer-oriented company. In a customer-oriented business, you know just how weak your interactions with your customers can be when those two teams are not working in sync. Thus, it is always important …
10 Tips for Helping Marketing and Sales Work Together Read More »
Have you heard of socially valuable marketing? It is now one of the driving forces behind some of the most successful advertising initiatives being used today. When it comes to communicating your message on social media, there are hundreds of ways to do this. If your goal is to communicate a positive message to conscious …
At your advertising agency, you’re in the business of helping other companies reach the most customers and look their best. To get ahead, you must offer better services than your competitors’ products and the work your clients could do on their own. Here are a few ways to tweak your business model so that you …
9 Ways to Increase Your Chances of Making Six Figures With Your Advertising Agency Read More »
Running a business can be a meaningful and exciting experience. However, it can come with its share of stress, especially if you try to find new and meaningful ways to market it effectively. While doing this may not always feel easy, the good news is that you can do things to help give your company …
Marketing campaigns have drastically changed as technology evolves and more options are available to reach consumers surfing the internet. Learning the best ways to utilize digital media will help you connect with those people who may be unaware of your business but love the types of products you have. Being aware of what the social …
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No matter how effective your current marketing strategies are, every business, from solo operations to corporations, can benefit from setting your company’s tried and true advertising campaigns aside for a while in favor of new, innovative, and creative marketing strategies. Novel approaches to marketing can engage both new and existing customers through new ways to …
4 Creative Marketing Strategies for Your Business Read More »
Caterpillar Inc (NASDAQ: CAT) is the leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives formed in 1925 after the merger of Holt Caterpillar Co. and C.L. Best Tractor Co. The company is headquartered in Deerfield, Illinois, United States. Its large and global dealer network serves …
The last decade has given birth to nothing short of a marketing renaissance. The rise of digital, mobile, and social advertising into a position of prominence in media mixes has created a set of opportunities and challenges that would have seemed like the stuff of science fiction in the 1990s. Now, digital advertising has arguably …
Tips for Running a Successful Digital Marketing Agency in the 2020s Read More »
The aim of this article is to analyze the seven P’s in the marketing mix of Lyft, a popular ride-sharing app. The services marketing mix is an extension of the four Ps of the product marketing mix. Apart from the first four Ps – Product, Place, Price, and Promotion, three more Ps are included in …
Running a business can be an exciting and fulfilling experience. However, it can come along with its share of challenges, as well. This can be especially true if you are looking for ways to run your business more effectively or take your marketing strategies to the next level. While trying to accomplish these things may …
What You Need To Know To Market Your Business More Effectively Read More »
Video Marketing is trending. While you are doing your research on which marketing techniques to use, you may have noticed that businesses are already making and sharing videos online. For many businesses, videos are the core part of their digital marketing strategy. Whether you are a small-sized start-up or a large company, video marketing is …
Reasons Why You Should Use Video Marketing to Grow your Business Read More »
Digital marketing is an ever-changing field. With new technology constantly emerging, it’s essential to always be up to date with how to market to your audience in the best way you can. Here are a few ways you can up your digital marketing game through things like market research tools, social media, and networking. Find …