Branding Concept | Brand Revitalization – Meaning, Example, Reasons
Brand Revitalization meaning – It is the marketing strategy adopted when the product reaches the maturity stage of product life cycle, and profits have fallen drastically. It is an attempt to bring the product back in the market and secure the sources of equity i.e. customers. Despite a good reinforcement strategy, a product has to […]
Branding Concept | What is GE Mckinsey Matrix?
The GE McKinsey Matrix or GE Matrix is a variant of the Boston Consulting Group (BCG) portfolio analysis Portfolio. The GE McKinsey Matrix has also many points in common with the MABA analysis. MABA is an acronym that stands for Market, Attractiveness, Business position and Assessment. The GE McKinsey Matrix also compares product groups with […]
Branding Concept | What is ADL Matrix?
The ADL matrix by Arthur D. Little is a portfolio management matrix which helps managers discern their SBUs strategic position depending upon 2 dimensions- • SBU’s life cycle and • Competitive position Each of these dimensions can be further split up into the following categories to better analyze a firm and accordingly determine the future […]
Marketing Concept | TRIZ Method / Model – Definition and Examples
All sorts of projects reach a point in the development process where the analysis portion of the project is complete, but it is unclear what the next step should be. To figure out the next best step, the project team must be creative to figure out what to do. Traditionally, common creativity tools and methodology […]
Marketing Concept | Product Mix – Definition and Dimensions
Product mix, also known as product assortment, refers to the total number of product lines that a company offers to its customers. For example, a small company may sell multiple lines of products. Sometimes, these product lines are fairly similar, such as dish washing liquid and bar soap, which are used for cleaning and use […]
Marketing Concept | Three C’s Of Branding
The benefits of having a strong brand are tremendous. Strong brands charge premium pricing; they thrive during economic downturns; they attract great employees, partners and customers; and they can extend into new business areas with ease. In addition to being able to boast these enviable benefits, strong brands have something else in common. They all […]
Marketing Concept | Premium Pricing
Premium Pricing Premium pricing is also known as Prestige pricing. It is a strategy to keep prices higher than the competitors to differentiate your product on the basis of price. This also creates a perception that the product is of high-quality and thus the prices are high. It works best in 2 scenarios: No competitors […]
Marketing Concept | Types Of Marketing Organisation
Marketing organizations may be of various types. The most important of them all include: 1. Function Oriented 2. Market Oriented 3. Product Oriented 4. Customer Oriented 5. Combined Type Let us understand each of them one by one. Function Oriented: This is the most simple and common type of organization. Under this type, the activities […]
Marketing Concept | Hierarchy Of Effects Model
What do you think makes you purchase the brand? Is there a specific model that knows how brand advertisement should be to make a consumer purchase it? Definitely, here is your read, Hierarchy of Effects is the model of how advertising affects a consumer’s choice to buy a product or service or not to buy […]
Marketing Concept | Influencer Marketing
In today’s world, where digital marketing has become an essential element in boosting your sales and brand presence, many people complain about seeing too many ads in a day. Around 66% of consumers said they are overwhelmed by too many online marketing messages, and as good as 20% of consumers have stopped using a brand […]
Marketing Concept | Social Listening
Social Listening helps companies to efficiently track what’s being said on Social Media in real-time and track social media mentions across platforms. This helps the company identify what people are talking about their products, competitors and their experience with it. For example, You open a bakery shop in the neighbourhood and you sell different sort […]
Marketing Concept | Shewhart Cycle (PDCA Cycle)
Management consultant, Dr. William Edwards Deming developed a method known as PDCA cycle/Shewhart Cycle in the 1950s to identify why some products or processes do not function as expected. His strategy, used by many different types of organizations, has since become a popular strategy tool. It makes it possible for them to formulate theories about […]
Marketing Concept | 5S Of Digital Marketing
Any company that is aiming to engage in digital marketing should point their objective by following Chaffey and Smith’s 5S of digital marketing. These 5s cover a range of different measures to help set, review, and control performance across all digital marketing activities. The 5s include Sell, Serve, Speak, Save, and Sizzle which will be discussed further. Sell – […]
Marketing Concept | Cause Marketing
Consumers are becoming aware of the inequality surrounding them, and they seek to make a difference. Cause Marketing (a type of CSR) serves as a bridge between for-profit and non-profit organizations to cater to their mutual benefits. It gives people the opportunity to help. Brands have the capacity and resources to raise the awareness of […]
Marketing Concept | Ambush Marketing
Ambush marketing is a marketing strategy by which a rival company attempts to associate its products with an event that already has official sponsors. This tactic is used by small companies who cannot afford to contribute to the funding of an event; then they try to create awareness of their brand covertly. It helps them to […]
Marketing Concept | The Pac-Man Defense
In several business practices, when a company wants to acquire another one, the company will reach out to the higher authorities of the target company and make a bid. The target company can decline or accept the bid. Now if the bid is rejected, the buyer company may just look to walk away. Now, sometimes […]
Marketing Concept | Persuasion Marketing
Persuasion marketing is a type of marketing technique that uses human psychology to manipulate how we feel about stuff. This strategy works when firms accurately apprehend how humans thinking is more likely to work. To persuade an audience we need to evoke an emotional response from them. A persuasion is an approach to design websites […]
Marketing Concept | 4A of Marketing
While designing the marketing approach for different products and services, marketers need to analyse how consumers are going to see the products and services. In other words, marketers need to understand what matters most to consumers: Acceptability, Affordability, Accessibility and Awareness. Together these are called 4A of marketing. It also means that marketers must understand […]
Marketing Concept | Ansoff Matrix
The Ansoff Matrix is a marketing model used by firms to analyze their product and plan strategies for product/market growth. Popularly known as the Product/Market Expansion Grid, was developed by the business manager, and applied mathematician H Igor Ansoff in 1957. This matrix helped many marketers to understand the risk involved in growing their business. […]
Marketing Concept | Grassroots Marketing
Grassroots Marketing is purposefully targeting a high niche group of people to persuade that group to propagate your message then organically. The defining concept behind the marketing of grassroots is one of audience and intent. To succeed, Grassroots marketing depends heavily on social media and virality. Since encouraging people to share a story is an […]