The changing environment from all points of view such as political, economic, social, technological, legislative and environmental has affected most of the sectors in the current societies. Retail sector is one of the most dynamic sectors only because the external factors affect retailing a lot. … [Read more...] about The Wheel of retailing concept
Finding your target market is different from choosing your target market. If you were a wolf, you can’t choose to sell apples in your neighbourhood because, well, your friendly neighbourhood wolves don’t eat apples; neither can you force them to eat apples. You cannot choose your target market, but you can find it. … [Read more...] about 7 detailed steps to find your target market
[tps_header][/tps_header] Many of our articles talk about Market segmentation. If you have not read the previous articles, you can begin with the beginners guide to Market segmentation. One of the questions which comes to mind is what are the criterias for market segmentation? Sure market segmentation has its own advantages, but what criteria's are to be applied? This article … [Read more...] about Criteria’s for market Segmentation
The primary reason that people go into business is to make money. To take the business to the level above making a quick return on investment, is to evolve the business into a brand. We often hear business owners talking about taking their business to the next level. However, many of the businesses don’t even know where to begin when they want to transition the business from … [Read more...] about Online branding tips for beginners by a real professional
The need for market segmentation arises from the fact that you cannot walk blind in this world. If this world was a place where people were requesting things from you even if you were blind, then that is fine. But here, your competitor is ready to trip you. And you will fall hard. So it is better to walk with your eyes open. In fact, if you have two eyes behind you that is even … [Read more...] about Need for Market Segmentation.
Strengths in the SWOT analysis of Mercedes High TOMA: Mercedes is a well established brand & is part of the "German Big 3" luxury automakers, along withAudi and BMW, which are the best-selling luxury automakers in the world. Mercedes focuses its sponsorship spending on events that attract a well-heeled crowd. Its three pillars are golf, tennis and New York’s Fashion … [Read more...] about SWOT analysis of Mercedes
Coke and Pepsi are the two brands which are known for their rivalry. The soft drink market is almost a duopoly market especially when it comes to cola wars. Whenever a marketer wants to take an example of brand rivalry, his discussion will be incomplete without taking the example of Pepsi vs Coke. Coke has always behaved as the elder brother who is more mature and reserved and … [Read more...] about Coke vs Pepsi in 7 print ads
In general, customers are willing to pay a premium for a product that meets their needs more specifically than does a competing product. Thus marketers who successfully carry out market segmentation and adapt their products to the needs of one or more smaller segments stand to gain in terms of increased profit margins and reduced competitive pressures. There are several … [Read more...] about Six reasons for Market segmentation
Market segmentation is the identification of the portions of the market that are different from one another. Market Segmentation allows the firm to better satisfy the needs of its potential customers. Let us take a simple day to day life example and clearly understand what segmentation means. Each parent would like the teachers to give personal attention to their wards. This … [Read more...] about Market Segmentation
Brand recall plays a crucial role in getting more customers to stick with your brand as well as to buy your brand repeatedly. When you as a customer buy a certain product, once the product is finished or deteriorated, instinctively you would like to purchase from the same brand, as the experience it has offered you was pleasant. Also when a brand is out of the market and then … [Read more...] about Brand recall explained with examples
In a previous article we have been speaking about the vertical integration both backward and forward. It is time to introduce a new concept, the horizontal integration. The simple definition of the horizontal integration is that it happens when two or more companies which produce the same or similar goods or provide the same/similar services merge together. When all the … [Read more...] about Horizontal integration explained with examples
Amul is an Indian co-operative company that deals in dairy products like milk, butter, cheese, curds etc. Dr. Verghese Kurien formed this company in the year 1946 and it has its headquarters in Anand in Gujarat. Presently the “Gujarat Co-operative Milk Marketing Federation Ltd” (GCMMF) manages the corporationand the company isalsoco-owned by at least three million people who … [Read more...] about Marketing mix of Amul Butter
In today’s world, true power lies in true data. With a majority of human activity being done on the internet through electronic devices, collection of data has become a lucrative business. The speed at which data is being generated has become unbelievable. It is in the interest of businesses to harness this data. If not, these numbers become mere noise and will not hold any … [Read more...] about How Businesses Are Using Analytics & Software to Serve Customers Better?
The Blue Ocean Strategy represents a theory concerning the business strategy created by two professors namely W. Chan Kim and Renee Mauborgne. The theory is pledging for the creation of a new market space, the blue ocean, as a main technique for the realization of a significant and profitable growth of the company. The theory is backed up by an innovation process and by … [Read more...] about Blue Ocean strategy – Creating a niche of your own
Industrial marketing comprises of marketing of goods and services to another business. It is just like Business to business marketing. Industrial goods are manufactured so that they can be used by another company to form the finished goods. So, Automobile component manufacturers are industrial marketers who provide the end product to Major automobile manufacturers like … [Read more...] about Suggestions to Industrial Marketers – Tips for Industrial marketers