Jerry Baldwin, Zev Siegl and Gordin Bowker started Starbucks Coffee, Tea and Spice Company in 1971 with a vision to introduce the world with the taste of fine coffees. In the year 1987, Howard Schultz took over the company and recreated it by forming a personal relationship between the coffee and the consumers. Within a couple of years the company grew from a regional and small business into the undoubted leader of the coffee industry. [Read more…]
From 2010 to 2012, revenue for Pandora, the popular music streaming service that utilizes a mobile app, went from $55 million to $274 million. During the same period, the number of registered users more than doubled from 45 million to 125 million, with 70% of usage coming from their mobile app. In 2014, Pandora reported that revenues had increased to $732.4 million. [Read more…]
What are the first things that you look when you buy a new coat? Or when you buy a perfume? Or even a watch? I guess, that besides other things the main factor that you consider before making the actual purchasing is how does it make you feel. Usually people tend to communicate their own identity by the brand personality of the product they choose. In other words, brand personality indicates the kind of relationship a customer has with its brand. [Read more…]
Any market you go in will always have market challengers. You have to challenge these competitors instead of presenting a meek response to them. Only by challenging them head on, you create a fear for future market entrants. At the same time, this challenge also ensures that you move up the competitive ladder. [Read more…]
In order to be able to make a clear and relevant classification of services, we would first need to understand the concept of the word itself. Services usually refer to processes and not physical products. Some services may include people whereas other services (like online services) may including objects which are managed by people.
Examples of services which include people can be a hair salon, education, theater, restaurants, public transportation. On the other hand services that include objects include repairs and maintenance, dry cleaning, banking, legal services, insurance, etc. [Read more…]
Despite the surge in social media and social media marketing strategies, email marketing is still an indispensable digital marketing technique. When it comes to educating your customer base and nurturing leads, email marketing is still king. Email marketing is constantly evolving, and is now a far cry from the simple brochure-like campaigns of yesteryear. [Read more…]
Who doesn’t like to expand their market share? Ask any business man in the world and he will say that he wants more customers. However, ask him how to do that, he will have a good idea but will still be missing some crucial points. [Read more…]
When the focus shifted from manufacturing to marketing, market research became one strong tool of marketers to know the reaction of the market before launching the product. However, there are many factors which determine the importance of marketing research. [Read more…]
Ask any business man and he will say that competition is a bad thing. However, that is far from the truth. In fact, active competition makes the market more active and makes people pay more attention. By looking at more offerings, customer himself enters the purchase mindset. [Read more…]
Customer life cycle management is a challenging and yet interesting topic for most marketers. It is challenging, because the strategy for each sector is different, based on which stage the customer is in his life cycle.
It is interesting, because through implementing the correct life cycle strategies, you can make the customer a repetitive customer for your organization. [Read more…]