One of the many challenges which a sales guy faces is getting the right prospects for his products or services. Thus, many sales guys are found asking how to get prospects for sales? There is a subtle difference between a suspect and a prospect. A suspect is a customer who can buy the product. The prospect is a customer who is more likely to buy the product or the service. For … [Read more...] about How to get prospects for sales?
As the market has changed, so has the way the company deals with the marketplace. The company orientation towards marketplace deals with the concepts which a company may apply while targeting a market. There are basically five different orientations which a company takes towards the marketplace. … [Read more...] about Company Orientation towards the marketplace
Parle G is one of the most trusted names amongst Indian brands. According to a recent poll, the company is one of the largest manufacturers and sellers of biscuits. Its parent company Parle Products was established in the year1929 and the company started the manufacturing of biscuits in the year 1939. After independence, ads were launched to project Parle G as an alternative to … [Read more...] about Marketing mix of Parle G
There are many actions which are involved in blogging and which bloggers have to do repeatedly to reach the top. However, if you look closely, blogging is just like any other factory doing its business. You manufacture content, and then you market it to your readers. You keep manufacturing and marketing simultaneously. You will have new readers as well as old readers. So, like … [Read more...] about The blogging cycle and the process of blogging
Yours is a top of the line company, with a top of the line product. However, even after having a strong marketing mix, your company fails to really take off. Is that a problem in the company or in the employees themselves? Or is it a problem of lack of leadership and ownership in the company? The last one - Bad leadership or Bad management is one of the subtle reasons for the … [Read more...] about How bad managers cause the right companies to fail?
There are numerous ways to classify consumer products and one of them is to determine the consumer buying behavior for a particular product and subsequently classify the product as per the buying behavior. The classification is not between products, rather the classification of consumer products is based on the differences between the consumers who buy the product. This is … [Read more...] about Shopping products
Internal marketing is the need of the hour. With customers becoming very choosy for the type of products that they buy, customer experience with the company needs to be beyond expectations. This is where internal marketing plays an important role. Internal marketing happens when the company treats its employees as internal customers, and accordingly, each department works in … [Read more...] about Internal marketing
There are several characteristics of services which differentiate a service from a product. These are Perishability, Heterogeneity, Intangibility and ownership. Here we discuss further 7 characteristics which are critical and help you understand a service product better. 1) Services are sold exclusively on the basis of benefits they offer – Why is it that Accenture has such a … [Read more...] about Seven characteristics of services
Though added later to the marketing mix, People are one of the most important elements ever of the marketing mix today. This is mainly because of the phenomenal rise of the services industry. Even products are being sold through retail outlets today. And if the retail outlets are not handled with the right people, the product will not be sold. Thus, the right people are … [Read more...] about People in the marketing mix – The 5th P of marketing mix
Michael Porter's Value chain concept is one of the most valued concept in today’s market because the Value chain tells us how we can differentiate our products by analyzing the chain of events which occur within our company. As differentiation is very important in today’s saturated market, naturally Porter's Value chain is being referred in a lot of management studies. The … [Read more...] about Porter’s Value Chain – Value Chain of Porter
Each and every marketer out there wants a product which the customer demands himself. The best product for a start up company can be one wherein there is automatic demand for the product. The products having an automatic demand or in other words, products for which the customers will go out of their way, are known as specialty products. The doctor to whom you go every time you … [Read more...] about Leveraging the power of specialty products
One of the most basic forms of market segmentation, Geographic segmentation divides the market based on the units of geography – such as location, languages used and other such basic elements which separate one geography from the other. For example – The UK and the USA are both very different markets, with different values, attitudes and lifestyle. Thus, the segmentation for … [Read more...] about Geographic segmentation – Segmenting by geography
A product portfolio is comprised of all the products which an organization has. A product portfolio may comprise of different categories of products, different product lines and finally the individual product itself. Management is needed on all the three levels of a product portfolio. You need managers for managing individual products, managing product lines and finally the top … [Read more...] about What is Product portfolio
Samsung has a vast product portfolio and its presence is in several different product categories. The brand image driver for Samsung are the Samsung Smartphone’s such as the Samsung note series or the Samsung galaxy series. Overall, Samsung is present in the following product categories. Products in the marketing mix of Samsung 1) Tablets 2) Mobile phones – Smart phones, … [Read more...] about Marketing mix of Samsung – 4P of Samsung