There are many Marketing mix articles here on marketing91 and we keep analysing more and more. We also encourage all small business owners and strategy makers to start planning their strategy with a look at the Marketing mix of brands. There are many reasons that justify the importance of marketing mix. Marketing mix constitutes of the 4 P's in case of products - Product, … [Read more...] about What is the Importance of Marketing Mix and why are the 4 P’s important?
Consumers have multiple preferences with regards to where they buy their products. Some customers always like to view the product in retail stores before they make a purchase. Others might browse the product on apps and take a decision. Yet others might view an advertisement and decide to take the product. And there would be yet other customers who decided to buy the product at … [Read more...] about Multi Channel Marketing – Advantages and Challenges of Multi Channel marketing
One of the stores which gives marketers lessons on how to keep customers coming back is Zara. It is the flagship brand of the Inditex group, which has more then 8 brands and subsidiaries in its belt. Out of all these, the one brand driving a lot of revenue towards Inditex is Zara. Zara is known for its fresh designs and for keeping the designs on rotation so that the customers … [Read more...] about SWOT analysis of Zara – Zara SWOT analysis
Chipotle Mexican grill, Inc. is an American Multinational company that offers a menu of burritos, tacos and salad etc. The company is headquartered in Colorado, USA and has expanded its operations outside of the US in the previous decade by entering Canada and Europe. Strengths in the SWOT Analysis of Chipotle : Growing operations: Chipotle offered its IPO in 2006 and has … [Read more...] about SWOT Analysis of Chipotle
Channel conflict is a conflict of interests arising between the channel network which is selling the products to the end customer and the manufacturer. It might also be conflict arising within the channel as well. Channel management is a form of sales wherein you hire a network of dealers and distributors to get your products across to customers. Many of the top product … [Read more...] about What causes Channel conflict? 6 Reasons for Channel conflict.
A company establishes a network of distributors and dealers in order to get the products to the end consumers. However, because this network is operated manually, it will always have friction. This friction comes in the form of channel conflict, which arises due to various reasons. Price differentiation can be one reason and territory encroachment can be another. However, if … [Read more...] about 3 common Types of Channel conflicts – Levels of channel conflicts
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