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 | Wi-Fi Marketing
The Wi-fi Marketing concept Wi-fi marketing is a strategy to attract customers to your retail store by providing them with free wireless internet access leveraging it to communicate messages and promotions. As a retailer, you have to ensure to stay ahead in your game reason being the competition comes not just from other retail stores […]
Marketing Concept | P.O.S.T. Method
Social media plays a vital role in inbound marketing and is an important channel to spread your marketing message across your audience. Inbound marketing/content marketing focuses on attracting customers through good content and engagement. The main aim is to convince your customer that you offer more value than your competitors. Social Media is a very […]
Marketing Concept | PESTEL Analysis
Environmental Analysis Environmental factors are those factors outside the control of the firm. This is often analyzed with the help of the PESTEL framework/model. This model analyses the environmental factors that are not in control of the firm but have an impact on the firm. Thus, PESTEL analysis is used to analyse all external factors. […]
Marketing Concept | New Product Planning
The product life cycle is divided into four phases, namely introduction, growth, maturity, and decline. Product planning is done based on these steps. Product Initiation: In a product initiation phase, a request comes up for a new product or a modification in the existing product. Various management teams review these requests and study them in […]
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 | New Product Launch Strategy
Launching a new product in the market Oh! How I’ve wished to launch my product and to note the process down for the longest time. Today I’d love to share my plan of execution with you to bring a new product into the market. First, start with selling it directly to the end-users. It will give […]
Marketing Concept | Movement Marketing
What is Movement Marketing? In Movement marketing, the brand actually tries to create market initiatives around their visions rather than their portfolios’ products. That’s why it is also known as Cultural Movement Marketing. The result of this can lead to a long term marketing strategy that will not only allow the brand to capture and dominate market […]
Marketing Concept | Brand Element Choice Criteria
Brand element is an intangible which can be trademarked, that identifies and differentiates the brand. Brand elements set the character of the brand. There are a total of six criteria for choosing brand elements: Memorable– How easily can someone remember, recall, or recognise the brand elements. E.g., A short name can be easy to remember. […]
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 | 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 | 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 | Real Time Bidding
The concept of Real-Time bidding is a part of programmatic advertising, where companies advertise in real-time on the basis of consumer behavior and traits. It is a kind of bidding system which allows publishers to monetize the advertising space available on their website by selling them to buyers through an auction system. Here, in less […]
Marketing Concept | Sharing Economy
The concept of sharing economy works on a model where people do not directly buy products but rather hire things like cars, homes, etc. or share them with each other. This is different from the traditional business model of selling goods. Companies use this as a commercial business model and it has proven to be […]
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 | 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 […]