October 25, 2014

4 simple steps for implementing a strategic plan

Implementing a strategic plan

Strategic planning is most important for organizations, be it small organizations or large ones. Likewise, implementing the strategic plan is also important. Without proper implementation, you are likely to move forward in a haphazard way, not knowing which ideas are to be implemented immediately, and which ideas are to be saved for the future. Strategic planning gives you a complete roadmap for the unseen future of your organization, and this roadmap can help you take decisions on the way.

The problem which rises for many organizations is that they become too myopic when they focus on Strategic planning. This may be due to many reasons, however short term strategic plans are of no use. In fact, they are not strategic plans at all, they are tactics and techniques. For implementing a strategic plan in the long term for your organization, the below mentioned 4 steps need to be taken into account. [Read more...]

Multi Level marketing

Multi level marketing

Referred also as pyramid selling, network marketing and referral marketing, multi level marketing represents a widely used marketing strategy in which the distribution channel is compensated both for their own sales as well as for the sales of the sales people that they recruit. Dating back from 1920’s, the multilevel marketing strategy is a controversial concept due to several reasons despite being a completely legitimate business strategy. Its main critics are often related with market saturation, pyramid structure, moral and ethics as well as relationship issues. [Read more...]

Marketing mix of HDFC

Marketing mix of HDFC

Housing Development Finance Corporation, which is popularly known as HDFC in India, established in the year 1978, and has been an active participant in financial and supportive financial activities across the nation for companies and services of various sectors. HDFC gained popularity as a private bank in 1994, during a period when India was going through a financial overhaul, and the whole structure was being privatized and liberalized for the betterment of financial framework.

Since then it has grown and matured as a bank, so much so that now it has become one of the premium banks in the nation with the most reliable clientele. Thoughtful marketing, introduction of good financial products, aggressive expansion and most importantly, excellent service is the reason that HDFC is amongst the top 2 banks of India. (ICICI and HDFC are always at loggerheads) [Read more...]

Promoting your business with an Event

Business event

Draw Energy Into Your Business With A Well Promoted, Locally Themed Event

Promoting your business with an Event is the best thing you can do for your business. Make your business come alive! People have been walking and driving past your location, wondering what you have to offer. They just need that push to come inside and get to know you. How can you fill your shop with people, get word of mouth advertising around town, and create a positive image?

Hosting an event at your business will do all of those and more. People are naturally drawn to something special like a party, concert or celebration. It’s not just a day of sales success, but also chatter and great memories that keep people thinking of your business and coming back for more. [Read more...]

Marketing mix of Jaguar

Marketing mix of Jaguar

Jaguar is a renowned car manufacturer, known for its high-tech and suave car designs, and enjoys a worldwide acknowledgement for the quality of its cars. The Jaguar cars division is part of an overall brand, the Jaguar Land Rover, which is a British based multinational car manufacturer. The company has been used on many occasions in the past to design and manufacture vehicles for the Queen, the Prime Minister, and many high officials and celebrities in the United Kingdom. In India too, you will find the car being bought by the A+ class segment. Jaguar cars today are designed in Coventry, England, and manufactured at plants in Warwickshire and Birmingham. The car brand has a lot of history, and is seen as prestigious by the public in Great Britain as well as other parts of the globe.

In 1989, the company changed hands as it was bought by Ford, who then passed it on as part of a package deal to Indian car maker Tata Motors in 2008. Although not owned by a British company, the design and manufacture of this brand continues to be in England. In India, Jaguar cars are available through dealerships, in diesel and petrol models, including the Jaguar XF, XK XJ and the F type as well. [Read more...]

5 reasons pricing strategy is increasing in importance

Your Pricing strategy and the price of your product is one of the most important factors influencing decision making. This can be explained with a suitable example. You enter a branded showroom and you find a shirt or a dress to your liking. You immediately check the price tag, and if the price is right, you will buy the product. If however, the price is too high, then you are likely to avoid the purchase. And if the price is too low, then the store you have entered, loses a part of its image, because it has such low priced products.

What this tells you is that your pricing strategy needs to be laser sharp. Pricing plays a role in decision making as well as building an image for the company. There are several reasons that pricing strategy is one of the most important P in the marketing mix and its importance is increasing, be it products or services sector. Here are some reasons justifying the same. [Read more...]

Marketing mix of Bata

Marketing mix of Bata

Bata as a company is a widely known and acknowledged “People’s brand” for the worldwide shoe industry. Bata is extensively liked by a majority of the population, and is undoubtedly one of the most common and well known shoemakers and shoe Company of modern times. The legacy of Bata dates back to a century, although the family, which started the company in 1894, had a strong history of being shoemakers, several years prior to that date. It was established by siblings of the then Bata family, in the erstwhile Austro-Hungarian empire in the city of Zlin, and ever since its inception has been known for durability and affordability, which has been the reason for its growth. [Read more...]

Product Placement

Product placement

Product placement refers to the art of placing your products in Movies, games or books so that they receive more visibility from Audiences. With the majority of us getting tired of watching repeated ads on television, marketers have found a new and innovative ways to introduce us to their products in more subtle ways, by placement of products in movies. However, several times, this also leads to the discomfort of their audience.

Some examples of product placement in movies are as follows – In the hit movie Transformers, all cars used are GM cars. In “Man of Steel”, Superman flows through an IHop and 7Eleven. In Skyfall, James Bond regularly promotes Aston martin. In Spiderman 2, Carlsberg paid 100million Danish Kroner in order for the superhero to jump on a Carlsberg truck. In “Men in Black” you can see the characters using Ray Ban sunglasses or Mercedes Benz cars. Thus, as the popularity of movies is rising, and as more people follow the heroes and the villains of movies, and as movies garner maximum attention from audiences, it is no doubt that companies want to go for product placement in movies. [Read more...]

Marketing mix of Britannia

Britannia marketing mix

The marketing mix of Britannia discusses the marketing mix strategy of Britannia Industries Limited (BIL), which is a market leader in the Indian bakery and biscuit market. Established in March 1918, it has steadily grown and secured itself as one of the heavyweights of India. Its portfolio of brands includes Tiger, Good Day, Marie Gold and 50:50. It became the first company in the East to use imported gas ovens, and as a business, flourished and began to acquire its reputation for quality and value.

Installing automatic plants in Calcutta and Mumbai helped to increase production, and a number of small takeovers strengthened the company’s position. In 1997 the company had a mission change, and identified a ‘eat healthy, think better’ strategy as one they intended to pursue. In the same year they joined the dairy product market, and released a string of snacks, with this philosophy in mind. Dairy products account for around 10% of the company’s revenue.

From 1998-2001, the company’s operating profits were 18%, as sales grew at a compound annual rate – against the market – of 16%. More recently, BIL has been seeing growth of around 27% per year, compared to the industry growth rate of about 20%. [Read more...]

Marketing timeline – How marketing developed over time

The development of marketing in India over time has been almost directly proportional to the development of the business and economic environment. We can understand the marketing timeline and how marketing developed over time with the below examples. As the time progressed, different types of marketing strategies started gaining importance. This does not mean that the initial marketing strategies were ignored. Consumer goods marketing is as important today as it was before. However, more and more weapons were added to the marketing arsenal over time.

As India gained independence, the first importance was given to the consumer goods industry as it is an absolute necessity for any country. At that point, India was mainly dependent on foreign imports for everything and did not have the proper setup to keep consumers happy. Thus the consumer goods industry received a lot of importance. [Read more...]