With an increasingly competitive and expanding market, the amount of information needed daily by an organization is profound. Thus they have to establish a Marketing Information system. There are several advantages of Marketing information systems 1) Organized Data collection – Lots of data can be collected from the market. But the main word here is “Organized”. Organizing … [Read more...] about 8 Advantages of Marketing Information Systems
In our previous article, we wrote how Micromax is climbing up the ladder to become the number one mobile phone manufacturer in India. Micromax has several advantages in its favor including value for money and a strong penetrative strategy. However, although it is climbing rapidly, Micromax has many challenges ahead of it which has to be taken into consideration before we … [Read more...] about 5 future challenges for Micromax in Smart phone market
A hardly discussed and controversial subject, ethical marketing took an important role in the corporate culture in recent business environment, for small to big corporations. It takes the shape of a fair, responsible and honest way of doing business. … [Read more...] about Ethical marketing and its role in running an ethical business
Micromax has recently overtaken Samsung to become the top mobile phone manufacturer in India. Off course, Samsung is still the leader for Smartphones. But considering the large product portfolio of Micromax, as well as its penetrative strategy, it is no doubt that Micromax has overtaken Samsung. It has been a long and hard journey for Micromax. Here is a bird's eye view at the … [Read more...] about Why Micromax became the number one in mobile market
KFC is known to be a favorite of meat and chicken lovers, and this segmentation is the main success factor of KFC. However, due to its franchise business model, the firm faces a lot of competition from other franchise's like McDonalds and Burger kind. Besides burgers, indirect competition in the form of Italian and fast food is ever present. Some of these competitors are Pizza … [Read more...] about SWOT analysis of KFC
How do innovations spread in the population? Why do certain innovations fail? What would be the qualities that determine the success of an innovation? And how can companies increase the rate of adoption of the latest innovations? If companies do not act properly, than they are likely to lose the advantage they might have after introducing a new innovation in the market. These … [Read more...] about Diffusion of Innovation
Customer profitability analysis is best conducted with a technique known as Activity based costing or ABC analysis. Customer profitability analysis helps the company understand the net profit coming from each customer which can be calculated by revenue less costs. These costs are not only manufacturing and distribution costs but also sales costs, marketing costs, services cost … [Read more...] about Customer Profitablity Analysis
The importance of customers as well as the dissemination of information over time has caused customers to reach the top of the organizational pyramid. This is what is known as the modern customer oriented organizational chart. … [Read more...] about Modern Customer oriented organizational chart
The term consumer buying refers to the process of selecting, buying and consuming products for the satisfaction of a customer’s wants. Consumer buying involves various processes. First and foremost, a customer tries to discover what items he/she ought to consume and after that feels free to choose just those products that guarantee them more noteworthy utility. Following the … [Read more...] about Reference Groups in consumer buying
Why do we need to learn about consumer buying behavior? The simple answer is that no longer can we take the customers for granted. Consumer buying behavior determines how our consumers decide to buy our product and what are the various factors responsible for this decision? Out of 11000 new products introduced by 77 companies, only 56% are present after 5 years. Only 8% of … [Read more...] about Factors Affecting Consumer Buying Behavior
Multiple qualities of the brand can influence consumer decision making. Brand ladder refers to the marketing tool used by marketers, to communicate all the benefits of a brand to the end customer. The brand ladder concept delivers a fantastic customer experience to all its customers. … [Read more...] about What is Brand ladder and how to use it for brand building?
Jerry Baldwin, Zev Siegl and Gordin Bowker started Starbucks Coffee, Tea and Spice Company in 1971 with a vision to introduce the world with the taste of fine coffees. In the year 1987, Howard Schultz took over the company and recreated it by forming a personal relationship between the coffee and the consumers. Within a couple of years the company grew from a regional and small … [Read more...] about Marketing mix of Starbucks
From 2010 to 2012, revenue for Pandora, the popular music streaming service that utilizes a mobile app, went from $55 million to $274 million. During the same period, the number of registered users more than doubled from 45 million to 125 million, with 70% of usage coming from their mobile app. In 2014, Pandora reported that revenues had increased to $732.4 million. … [Read more...] about How using mobile app can help small businesses with more visibility?
What is the information needed by Marketing managers for day to day running of the organization? Marketing managers rely mainly on MIS systems and reports generated for the same to establish marketing plans. Thus three types of information are needed by Marketing Managers. 1) Internal company information – What is the first thing you will analyse if asked to expand the … [Read more...] about 3 types of Information needed by Marketing Managers
No matter how effective the packaging and promotion of a product, the company will find it very challenging to market a product that doesn't satisfy a consumer need. Nescafe owes much of its success to a strong marketing mix. Nescafe is a brand of instant coffee made by Nestle. The Nescafe marketing mix shows that Nescafe is a strong product with global appeal. Let’s look at … [Read more...] about Marketing mix of Nescafe