Marketing Concept | Brand Extension
Brand Extension Once a brand is recognised in the market and in consumer minds then there is always a scope of a new product launch for the company. This gives an opportunity to the brand to leverage its brand awareness and brand equity for positioning new products even if it belongs to a different category. […]
Marketing Concept | Diffusion Of Innovation
Diffusion of innovations is a theory that seeks to explain how, why, and at what rate new ideas and technology spread. It was Everett Rogers, a professor of communication studies, who popularized the theory in his book “Diffusion of Innovations”. He argues that diffusion is the process by which an innovation is communicated over time […]
Marketing Concept | Immersive Technology – 360, Virtual Reality & Augmented Reality
Immersive technology is those technologies that integrate virtual and real-world elements. It creates a sense of immersion by emulating the physical and real-world with the means of the digital world. It thus creates a blur between the real and virtual worlds. In other words, it leverages the 360-degree space around us. Some types of immersive […]
Marketing Concept | The Burrito Principle
The concept of the Burrito principle is among those marketing principles that will help get the most out of online marketing channels such as social media posts or email marketing. Even the most creative of campaigns can underperform if not delivered effectively, and The Burrito Principle helps us understand how to achieve the kind of […]
Marketing Concept | The Golden Circle Principle
Simon Shrek explained the concept of Golden circle principle in his TED talk. The golden circle principle aims to explain why a few brands and organizations can succeed in differentiating themselves better than the competitors. Despite essentially providing the same services or products, some companies are more successful than others. It all boils down to […]
Marketing Concept | Guerilla Marketing
Guerilla marketing is an unconventional marketing technique or concept that is different from traditional marketing. It is generally executed in an open space where more public visits, places like streets, railway stations, etc. make it easier to garner more attention. It is implemented to enhance the engagement with the existing customers as they will recognize […]
Marketing Concept | White Bread Vs Wheat Bread
The idea of conceiving marketing concepts in terms of bread was first introduced by Pamela Vaughan from HubSpot. Gregory Ciotti later detailed it out. As the name suggests, White vs Wheat bread concept is a clear distinction between two different types of content of social media updates. Let’s go with a world-wide assumption “Wheat bread […]
Marketing Concept | BCG Matrix
BCG is a firm by the name of Boston Consulting Group, which provides consulting services to various businesses. They have devised a matrix, the growth share matrix, which helps the company to carry out portfolio analysis. By this matrix, the company can decide whether to invest in products or stop producing the product. BCG matrix […]
Marketing Concept | The Hedgehog Concept
If you were to choose between a fox and a hedgehog, which one would you go for? Well, many people would choose the fox. Of course, foxes are beautiful, sleek, and cunning, but hedgehogs, the small prickly creatures, are quite the opposite: slow, quiet, and plodding. The scenario ends with the hedgehog thwarting the fox. […]
Marketing Concept | Brand Architecture
Sometimes it is so obvious but we don’t see it coming, for example, some of the brands which come under a well-known parent company but we aren’t aware of this fact about brands mergers and acquisitions. Why Brand Architecture? Whenever you are offering some products or services you want your company to be intact from […]
Marketing Concept | Grey Market
Grey/Gray market is where sales of legal goods take place via a distribution system not intended by the manufacturer. In other words, this channel of distribution is not authorised by the distributor and is legal in the purview of the law. Products sold here are priced lower than what a consumer pays at a genuine […]
Marketing Concept | Customer-Based Brand Equity Model (CBBE)
When a brand tries to focus on brand marketing, basic questions arise, what makes a brand? And how can you build a strong brand? What makes your brand valuable? Then the concept of Customer-based brand equity comes into the picture. The basics of the CBBE concept is totally dependent on consumer perception of the brand. […]
Marketing Concept | Crowd Logistics
Traditionally, the delivery of parcels is performed by a person/agent who is hired by a company on a contract basis or a regular employee. However, the concept of Crowd logistics or Crowdshipping is outsourcing delivery to a large & undefined group of people in the form of freelancing. For example, a person can make a delivery […]
Marketing Concept | Hyperlocal Logistics
‘Hyperlocal Logistics’ is all use of technology like Machine learning, predictive analytics and artificial intelligence to deliver Goods & services as soon as possible to the end consumer. Here, the end consumer usually uses an app or website to place an online order. This order is fulfilled by nearby businesses like retail shop or medicine […]
Marketing Concept | Blue Ocean Strategy
Blue ocean strategy means creating the new market. The key principle of blue ocean strategy is to pursue low cost and differentiation simultaneously. Chan Kim and Renée Mauborgne wrote a book called “The Blue Strategy” in 2004 which presents analytical frameworks and tools to foster an organization’s ability to systematically create and capture “blue […]
Marketing Concept | Banana Curves
Banana curves are usually used in projects. When a project is scheduled, tasks are planned using early start and early finish. It is also planned using the late start and late finish. An early start is the earliest possible date on which the project tasks can possibly begin The late start is the latest date […]
Marketing Concept | A/B Testing
Other names: Split testing, Bucket testing A/B testing is a method to check 2 versions of a webpage, app or a mail body against each other to determine which one performs better. Let’s say an e-commerce company wants to determine if a change in its webpage will attract more consumers to buy their product. These […]
Marketing Concept | Demand Forecasting
Frequent change in consumer demand and trending pattern of products that decision should be taken on careful analysis of data. Prediction of sales from previous sales data and estimated data is possible via the Demand Forecasting concept and its techniques. Steps in the forecasting of demand are followed to promote a systematic calculation of potential […]
Marketing Concept | Marketing Funnel (AIDA Model)
Other names: 4-stage AIDA model, TOFU(top of funnel), MOFU(middle of funnel), BOFU(bottom of funnel) Definition: In simple terms,AIDA Model a consumer journey. There are various stages in which a consumer lies and how a marketer makes the most out of it. In the initial phases, the marketer’s goal is to create awareness about the product […]
Marketing Concept | Material Requirement Planning
Material Requirement Planning is a mechanism which helps manufacturing firms to calculate Net requirement of material, material requirement time and most optimum Quantity of material. Material Requirement Planning consists of following essential steps: Master Production Schedule (MPS): MPS is a set of phased amounts for each item that a business manufactures, showing how many are to […]