Nestle Baby and me targets would be moms

One of the segments where there is no bargaining is children and especially new born babies. So imagine the protectiveness one would feel for a baby who is yet to come in this world. Nestle realises that, and has come up with a product which will be in the minds of the consumers during their most vulnerable moments – when a mom is pregnant.

All moms want their kids to grow up healthy and strong. And we all know, that during pregnancy, the utmost care has to be taken to ensure that the new born baby has the best immunity and health. With a target to remove the insecurity of healthy nutrition, Nestle presents Baby and me which is a nutritional supplement for pregnant women. [Read more...]

Expedia asks you Whats your hotel type

Tough competition ensures that only the toughest players survive. Expedia is a website which has mammoth competitors like Yatra and Makemytrip. However, the website is holding its own with many interesting ads one of which is the “Whats your hotel type”. Being aired currently, it targets travelers of all types by showing the vast options of hotels that Expedia has in its repertoire and which can be booked for the traveler by the click of a mouse button. [Read more...]

3 reasons Core competency is most important

Core competency decide whether or not the firm has a sustainable competitive advantage. Walmart has a core competency which is its supply chain. Adidas and Reebok have their own core competency which is their brand image. Why do these firms try so hard to build and strengthen their core competency? It is because of the following 3 reasons.

1) Sustainable competitive advantage – the key word here is sustainable. Any company at any given point might have several competitors. Nonetheless the company survives even in face of competition. The reason is that it has a core competency which gives it a competitive advantage.

Mcdonald’s and KFC are both companies who have constant indirect competition with local food outlets. The reason these 2 firms are able to beat others is their core competency. Which is to provide delicious food consistently at affordable prices with a very fast service. These core competencies are very difficult to match at a global level. Thus core competency provides us with competitive advantage.

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Process of Gap analysis

Gap analysis is used to find out the gap between a companies potential and its actual standing in the market. There will always be a difference in what the company desires and what it has achieved. Or if the company has achieved, what it desires, it needs to upgrade its objectives. In all such cases, gap analysis is used. Gap analysis helps the company in determining the steps that need to be taken to reach the desired objective from the current state. The process of gap analysis is as follows.

Step 1) Finding the gaps –  The very first and most important step in the process of Gap analysis is finding the gaps. There may be many types of gaps. There can be gaps in market segmentation, wherein a market segment which was targeted has not shown interest, or another market segment exists which may give even better business. The competitive landscape might be changing and there may be a gap in the companies perceived competition and the actual competition that exists in the market. There may be a gap in profit expectations and actual profit realization. Due to unseen cost factors, profit realization may be much lesser than the forecasted value which shows that a gap exists which needs to be covered. Thus, finding the gaps and finding the right gaps is most important in Gap analysis.

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Slice prepares Katrina Kaif’s Swayamvar

Slice introduced a fantastic concept last year which was “Aam sutra”. It showed Katrina kaif falling for a mango which is the king of all fruits in India and people wait for Mangoes a whole year. The Aam sutra is now carried forward with Swayamvar this year. Apparently, last year was all about seduction whereas this year its going to get more serious for Katrina kaif as she is going to search for the best mango. This is the preview and the first in a series of ads on Swayamvar. Likely, the whole story will be unfolded in the coming months.

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Gap analysis

gap analysis

Image source - http://www.natronatech.com/

Gap analysis is an excellent strategic tool used by management to identify where the company is going and what is the expectation or the potential of the company. In essence, Gap analysis compares the actual achievement with the potential achievement to find the gap in the existing strategy. This gap then needs to be filled such that the company meets its own potential.

There can be many reasons that gaps exist within a companies strategy. Most of these reasons are because of a changing business environment. In the last decade itself, we have many changes in the business environment. Retail market has come in leaps and bounds, internet is taking over retail and now mobiles and smart phones are utilizing internet to get the customers what they need at their doorstep. That is a lot of changes in a decade.

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Marketing management process

The marketing management process goes through various stages to ensure the success of a product in an organization. A company is generally in the blind about any new product. In a tough business environment, with a customer who knows everything beforehand because of presence of online portals and websites, it is tough to plan and launch a new product or a marketing strategy. Just like movie stars waiting in anticipation for their movies to be released, companies wait in anticipation when a new product is launched. This new product can rock or it can fail in the market. The marketing management process ensures that whatever happens, the product is given its best chance to survive and thrive in the market.

Conduct market research – The very first step in the marketing management process starts with conducting a market research. As previously mentioned, if a product is a new launch, then the company is likely to be in the blind for the future propects of the product. They do not know what product the market needs, should they go for a new product or do a product extension, what will be the expected turnover increase from the new product, etc. Such questions are answered by market research. Thus, to even start thinking of launching a new product, market research is necessary.

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