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?
Marketing management articles
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
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
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?
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 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
The product line length within a company keeps changing. Generally, there are three price bands which exists in any market - Lower priced products, middle priced products and premium products. One brand concentrates on one price brand. But the larger brands have the deep pockets to start multiple product lines which can target multiple customer segments, premium or otherwise. … [Read more...] about Product line stretching
A common question that we get on our site is “What is product differentiation” and “how do we differentiate our products”. There are many factors involved in differentiating your products, each of which is discussed in this article. When it comes to products, one of the most common Marketing advice is to “be unique” and to be “differentiated”. But all businessmen know it is … [Read more...] about What is Product differentiation and how to differentiate your products?
For any company to be successful, it needs to generate a good deal of revenue and not matter which industry the business is in or what model it follows, it needs to be able to sell its good or services. The marketing department of a company plays a crucial role in helping the company achieve its objectives. From deciding the target group, to pricing, product development, … [Read more...] about 5 ways to define and implement Marketing goals for your company
Classification of Industrial products is necessary as it helps decision making for the organization. Industrial goods are classified on the basis of their relative cost and where they enter the production process. There are 4 major classes of Industrial products Materials & Parts Capital items Supplies Business services Overall, there are many sub parts … [Read more...] about Classification of Industrial products – Industrial products classification