The main aim of a business is to earn profits. Thus a company has to attract and retain those customers who are profitable. This is known as profitability analysis or customer profitability analysis (CPA). In Simple terms – An analysis of cost and revenue of the firm which determines whether or not the firm is
What are the first things that you look when you buy a new coat? Or when you buy a perfume? Or even a watch? I guess, that besides other things the main factor that you consider before making the actual purchasing is how does it make you feel. Usually people tend to communicate their own
Haier India Limited a subsidiary of Haier Group entered the India market in 2004. The company since then has been struggling to gather momentum in the India Consumer Electronics market. The Indian consumer electronics market is estimated to be $5 billion and is growing. Haier group has failed to leverage this growth. Even though the
Any market you go in will always have market challengers. You have to challenge these competitors instead of presenting a meek response to them. Only by challenging them head on, you create a fear for future market entrants. At the same time, this challenge also ensures that you move up the competitive ladder.
In order to be able to make a clear and relevant classification of services, we would first need to understand the concept of the word itself. Services usually refer to processes and not physical products. To understand more, read this article on difference between goods and services. Some services may include people whereas other services (like online
Despite the surge in social media and social media marketing strategies, email marketing is still an indispensable digital marketing technique. When it comes to educating your customer base and nurturing leads, email marketing is still king. Email marketing is constantly evolving, and is now a far cry from the simple brochure-like campaigns of yesteryear.
Who doesn’t like to expand their market share? Ask any business man in the world and he will say that he wants more customers. However, ask him how to do that, he will have a good idea but will still be missing some crucial points.
Product – Easy Jet is a flight booking company located at London. The benefits of Easy Jet being online and on teletext means that they are providing better margins; this is where they are dedicated to customers digitally. Place – Not solely online but majority of sales are online so Easy Jet will concentrate on
When the focus shifted from manufacturing to marketing, market research became one strong tool of marketers to know the reaction of the market before launching the product. However, there are many factors which determine the importance of marketing research.
The critical part in any ad is the advertising message. Some brands are known to be the master of Advertising. Take any premium company and they will be oozing confidence due to expensive and really amazing ads made by their marketing managers with a unique advertising message. However, even the low lying companies can differentiate
Ask any business man and he will say that competition is a bad thing. However, that is far from the truth. In fact, active competition makes the market more active and makes people pay more attention. By looking at more offerings, customer himself enters the purchase mindset.
Marketing has changed and it has become more personal. People nowadays need convenience and you cannot expect that your customer will come to you. You will have to go to your customer again and again so that he does not switch to any other brand. Remember that your customer has numerous options in his hand.
Customer life cycle management is a challenging and yet interesting topic for most marketers. It is challenging, because the strategy for each sector is different, based on which stage the customer is in his life cycle. It is interesting, because through implementing the correct life cycle strategies, you can make the customer a repetitive customer
A core competency is developed over time and stays with the company in all of its products and is the major differentiator for the company. Wal-Mart has its pricing. Apple has innovation. Intel has technology. But what if the core competencies of these companies are attacked? Can your core competency be limiting to you? Can
In a corporate sales pipeline, the volume of customers is very high and hence the pipeline involves a lot of companies or customers who have to be targeted. In a channel sales pipeline however, the funnel consists of selected individuals, strong channel dealers who are capable of selling good quantity within their own designated region.