When you want to paint a picture, you have to start with a blank page. Just like that, when you want to make a sale, you have to start with a list of cold calls or a list of target customers who are blank to you. What is Sales Prospecting? If you have a database of 100 people, you won't know in advance which amongst them is most interested in your products, who is going to … [Read more...] about What is Sales Prospecting & its role in Sales?
Axe is a brand of Unilever, known as Lynx in the United Kingdom, is a deodorant targeting young male demographic. Axe is a popular brand due to some of its very attention grabbing youth-centric advertisements. Axe has won over 10 awards at the prestigious Cannes Lions Advertising Awards. Axe is present in over 90 countries throughout the globe. The Axe effect is also a very … [Read more...] about SWOT Analysis of Axe – Axe SWOT analysis
One of the most common forms of competition, and a factor which brings in more and more competition day by day is Product competition or competition on the basis of product portfolio. If you look at it, most companies compete on the basis of product lines and the products on offer. A company wants to cater to a lot of customers. It knows that the more products it has, the more … [Read more...] about 3 levels of Product competition – How companies compete on basis of products?
If you actually compare Laptops and Desktops, they are just two types of product design of the same product - Personal computers. However, in the last several years, we have seen that the market share of Desktops has rapidly dropped and that of laptops has increased. This is all because of a simple change in Product design. Product design is important to an organization or a … [Read more...] about What is Product design and its Importance in Marketing?
Each and every one of us has a need, want or demand. And each of us, by the grace of gods, is also blessed with creativity. When a business caters to a customer, it does not only cater to the basic need of the customer but also to other needs which he does not express. All in all there are 3 types of customer needs which can be defined. The 3 types of needs can be categorised … [Read more...] about Understanding the 3 types of needs – Customer needs classification
Whenever a new business starts, the common question which the business owner faces is "Which segment should you target?". It is not only about which segment, but also about how many types of customers you want to target and what do you have on offer which will satisfy or create value in the minds of your consumers. Segmentation is considered as one of the first few steps in … [Read more...] about How to choose a Market segment? 5 approaches to Choosing a market segment.
Ask any businessman what is a push strategy and a pull strategy and they will simply say that its selling vs Marketing the product. Where push involves outbound marketing and you have to reach the customer, pull involves creating a value for your product so that the customer walks in to buy your products. As competition has increased over the years, companies have realised that … [Read more...] about How to push your product in the Market for better sales and apply Push strategy?
One of the more difficult markets to operate in, the business market is legendary for its bureaucracy and for the time taken in making business decisions or purchase decisions. At the same time, businesses buy in bulk and for longer time and even retention is easier when compared with the B2C market. Hence, looking at the pros and cons, it is very important to segment a … [Read more...] about How to segment a Business Market? Steps in Segmenting a business market.
One of the most important elements in the Marketing mix is Promotions. And lately, packaging has become a strong element of the Marketing mix. Some say it should fall under Promotions because it helps in attracting attention for the product. Others say, it serves a much higher purpose then only promotions and hence the argument is that packaging can become the 5th P of the … [Read more...] about Role of Packaging in Marketing and sales of a product
Maybelline is associated with FMCG sector and deals in the cosmetics industry. It is of American origins and is a fully-owned subsidiary of its parent company L’Oreal. Maybelline was founded in the year 1915 by its founder Tom Lyle Williams and was acquired by its present owner in the year 1996. Some of its competitors are as follows- Elle 18 Lakme Revlon Estee … [Read more...] about Marketing Mix Of Maybelline – Maybelline Marketing Mix
One of the things which confuses many beginners in Marketing is the product hierarchy. There are just too many types of product classes like Product line, product mix, product type etc. However, this article tries to make it all simple. To understand the product hierarchy, we will have to look not at a single product but the business as a whole. So in this example, we can take … [Read more...] about Understanding the Product hierarchy and Product classification
Branding not only plays a role in the marketing of the complete product, but in the marketing of its ingredients and components as well. As the market exploded, more and more companies found out that Pull marketing was the way to get their product accepted in the market and to realize higher turnover and to create automatic demand. However, it is not easy to create demand for … [Read more...] about Ingredient branding and How to build an Ingredient brand?
Every organization’s aim is to realise profits in the business that it undertakes. This profit is, to a large extent, determined by the selling price of its product or service. It is not always true that a higher selling price leads to greater profits. The demand for a product at every price point is also important to determine the revenue generated and thus the profit. Two … [Read more...] about What is Cost based pricing and how it is applied in the Business world?
There are various types of products in the market running on various marketing strategies. Some of them are penetrative, trying to defeat the competition on the basis of price. Others are competitive, which are taking on the competition by maintaining the same pricing and quality as them. Yet others are premium in nature, trying to outdo competition with their premium image … [Read more...] about 10 tips & tactics for Marketing a luxury brand
The product mix constitutes not only a single product line but all the products within an organization. A company like HUL or P&G or even top automobile companies like Volkswagen or General motors have multiple product lines and many strategic business units in their organization structure. Each product within the structure forms a part of the product mix. In essence, … [Read more...] about 6 types of Product Mix pricing to push products in the market