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 […]
Marketing Concept | Crisis Marketing Management
Crisis Management or Reputation Management is a practice to regain and reshape public opinion about the company and organisation. Many organisations like Toyota, Domino’s and many others have faced a brand crisis at some point or other, As a marketing manager, one should be prepared to tackle such a crisis. Many financial institutions like Bank […]
Marketing Concept | Market Research Process Steps
Market research is an approach of gathering data about the customers, competitors to take the advantage of all the resources and practices available in the market. This helps us in understanding customers’ needs, the latest trends, and understand the present dynamic of the market. Marketers adopt six steps of the research process for market research: […]
Marketing Concept | Moment marketing
Moment marketing is one of the ways brands use to create viral content using the latest trending news around the world and plugging their Product with it. It’s all about Storytelling, and humans told stories for as long as they could even start speaking. So, the Brand sells well if the story behind it is […]
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 […]
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 | 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. […]