February 8, 2012

Is Mass marketing era over

Perception can be defined as an image which consumer forms of an offering before or after its usage.

Before the advent of internet, which led to free access to vast pool of information, consumer choices were more dependent on word of mouth and what company has to say about its offerings. But come internet and these all channels became less effective as consumers now had information on the go and has plethora of options to choose from. In this era of free information flow, the orthodox way of mass marketing needs a serious consideration before an organization pumps fortunes in it.

Looking at the perception formation model, the integrated marketing communication does have an impact on consumers mind and forms a blur image in his mind which evokes him to look out for more information about the offering from peers and if he gets positive inputs probably it converts into a purchase, But if we look  precisely at the target market, they do have some similarity in their demographics and as per many marketers they do have similar psycho graphics but which it the major point of concern of this article.

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Transformation of Indian customers

India is an economy which has gone through several changes post liberalization. This has opened up gates for various foreign entities to enter our market and grab a share of the pie while at the same time creating more jobs and options for the end user.

The pre liberalization Indian consumer was more orthodox in his life style and thinking process. He believed in three S, which were

1) Savings
2) Spirituality
3) Safety

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Mass customization – Is it the new communication strategy?

In one of the last articles we have been talking about the process of internalization, of taking your business on an international market. At the moment we have mentioned some huge mistakes that business people usually do when initiating this process, and one of them was related to the customized marketing. However, there are also some other aspects that should be considered when marketing products on a global plan.

As business people, we should ask ourselves what do we want people to think , feel and do differently? And here we have to bring into the discussion the communication strategies. In general, firms have to communicate to consumers in order to make them consider buying the products that the firm is selling. The most common way of communicating with customers is through advertising. And here one can choose between undifferentiated marketing where there is just one marketing program for all the market segments and differentiated marketing, where there are different marketing programs, something also known as “customerisation” or “targeted marketing”.
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Top 12 marketing rivals of all time

There are brands which have been known to be far ahead of any competition in their sector. But at the same time, there are also some brands which have been rivals since years. This article lists out some of these marketing rivals. Be kind enough to notify us of any further marketing rivals which you can think of at the end of this column.

12) Walmart vs Others –  There is no other way to term this. There is hardly any one competitor to whom we can restrict walmart. Walmart has been and still is one of the biggest names in retail. However, it has met with its own fair share of competition. Some of the major ones being K mart, ShopKo, Dollar stores, along with the advent of online retailers who themselves too take a bit at its market share.

11) McDonalds vs KFC –  KFC mainly concentrates on its non vegetarian arsenal whereas McDonalds concentrates on being predominantly a fast food chain. McDonalds today stands way ahead of KFC. The sole reason being the distribution of Mcdonalds and its wide acceptance. McDonalds does meet with tough competition in other countries mainly from Burger king. But McDonalds too will agree that a lot of its TG prefers KFC over McDonalds (i do too. i love KFC more)

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6 Marketing lessons from Harry Potter

1 Have great quality –  No one can argue this. The Harry Potter series (along with lord of the rings) is one of the best books I, and many others, have read till date. Quality is all it provides and that is the best lesson learnt from Harry potter.

2 Address the masses –  The best selling products are those which sell to the masses. Harry potter, although targeted towards children, was also a lovely read for adults and others alike. This was also one of the key advantages of the book and the way it was written. Anyone could read it.

3 Be consistent –  As observed in many hollywood movies, you wont rock each time you release something new if you are not consistent with your content. And J.K Rowling was spot on in consistency. I mean the 6th  part reveals Snape as Half blood prince. Loved it!!

4 Hold something back for later –  Each and every new Harry potter book brought in a surprise. It could have been covered in one book but then the book would have probably sold some 10 copies (rowlings relatives and friends would have bought it). But by lengthening the process and always holding something back, she had the best advantage up her sleeves. The advantage of surprise.

5 Think Big –  Dumbledore, Voldemort (Sorry – ’you know who’), Sirius black, Draco malfoy, Severus snape, Such characters are not born when you are thinking small and of just writing one book. They happen only when you think big from start. Always have a contingency plan. What if this goes a hit or what if it fails? Always have answers to these two questions. They will help you think big.

6 Know when to stop –  I would have read a 100 books of Harry potter if J K Rowling would have launched it. But she didnt. She knew when to stop and how to stay on top even when you are not in the game. Thats what A grade brands always do. They dont go on with one campaign which has gone a hit. They know when to stop and start another campaign.

There maybe tons of other lessons which you can pick out from the Harry potter books. However, these 6 are at the top of my mind. What other tips do you think can be taken down by a marketer from Harry potter?

Ambush Marketing

Over the years marketers have found several innovative ways to advertize their brands. Ambush Marketing is one of such unique and creative ways of marketing. In general Ambush means “An attack from Hidden Position”. In Ambush Marketing, Company capitalize to advertize themselves on the events, in which it’s not an official sponsor. There have been numerous examples in which other companies dragged the limelight, without being an official sponsor. Some of the examples are:

FIFA World Cup 2010: Adidas was one of the official sponsors of 2010 FIFA World Cup held in South Africa. Adidas bagged the sponsorship by beating their closest rival NIKE.

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Get Paid to write on Marketing91

Dear Readers, Now you can get paid for your passion of marketing on Marketing91.com. The blog is growing in terms of the number of visitors it has and as guest bloggers are few, i am thinking of getting paid authors / article writers for Marketing91.com.

At the same time, i do not want to affect the quality of content at Marketing91.com. Thus there would be certain criteria’s involved for paid authors which are as follows.

1) Only Originally written Marketing articles will be entertained. Plagiarized content will never get published on Marketing91.

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Why China is the fastest growing economy

This article has been contributed by Mr Adeeb Ahsan who is studying MBA at IIPM and is a guest author at Marketing91.com.

Chinese economy is the fastest growing economy among all the developing economy. It is the biggest exporter of goods and services to the richest economy of the world i.e. united states of America. The Chinese economy is said to be the next most powerful economy of the world. Foreign direct investment of China is highest among all the developing country. Her export is greater than import. Chinese mobile, Chinese toys, computers, and many electronic items is the center of attraction in every market. “CHEAP AND BEST” CHINA IS THE BEST.

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Movie Marketing – The next big thing

Movie Marketing Movie Marketing   The next big thing

Gone are those days when handbills, wall paintings, posters, and hand painted board signs were the most prominent ways for marketing a movie. Actors never promoted their films; film-makers never invested a lot of money to reach their product to the target audience and even print media barely created hype. But today’s film industry exhibits a completely different scenario. India is regarded as the world’s largest film industry in terms of the number of movies released per year. Estimates say that more than 1500 movies are releasing in India every year. Of which, Bollywood constitutes a major chunk followed by Telugu, Tamil and Malayalam film industry. And now, movie production houses are looking for strategic and innovative ways to market their product. Now let’s analyze some of the most novel techniques used by movie production houses and actors to aggressively market their movies.

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Why IPL 4 Lost its charm and its viewership

Following India’s world cup triumph and with the addition of two brand new teams, IPL 4 was supposed to be a super grand affair. This supposed to be mega event was expected to surpass all expectations with the advertisement rates (which is one of the main source of revenue) going as high as 6-8 lakh per 10 seconds. Analysts say that over 120 brands were involved in this year’s IPL, which was intended to reach a large number of audiences. Some of the aggressive marketers like Vodafone, Micromax and Pepsi are going to get cautious next season. The reason being, for the first time in the history of IPL, stadiums had unsold seats even for weekend matches (except Bangalore). For the first time the TV ratings started to depreciate, they kept on decreasing. Something went wrong, isn’t it?

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