Segmentation is an integral part of marketing strategy of any organization for any product. It is important to know the different segments that exist in the possible target customers to ensure that a product is positioned to the right segment of people. It actually means dividing a market into sub-segments and each segment have something in common. It helps in identifying a … [Read more...] about Lifestyle Segmentation
Marketing management articles
In the field of marketing, Brand Equity means the value of a brand. The concept of the value of a brand is very interesting and deeper than what it looks like. The generally accepted notion for a brand owner is that a well-known brand in the market will give more revenues and goodwill rather than the lesser known ones. There have been multiple approaches and studies happened to … [Read more...] about Aaker Brand Equity Model
For any company which is involved in distribution, distribution cost is a major bottleneck. There are many different distribution expenses which must be taken care of. Furthermore, these expenses are not consistent and may change from time to time thereby changing the distribution cost as well. Example – A company in the 1st year of its foundation might be given an X salary to … [Read more...] about Understanding Distribution cost – 11 types of Distribution expenses
We recently discussed the functions of wholesalers in an article. In this article, we are going to discuss the types of wholesalers. Each company is different in terms of the value it provides to its end customers and accordingly it is different in its own distribution channel. A company which is a weaker brand will take any distributor or wholesaler on board. However, a … [Read more...] about 6 types of wholesalers – What are the different types of wholesalers?
Whenever designing a distribution channel, there are many factors in consideration. One of them is how close the company is to its target market. The other is the expansion plans of the company and how expansion will require a deeper distribution network. Thus, to establish a distribution plan, a company needs to decide on a channel structure. There are two types of Channel … [Read more...] about Types of Channel Structures – Industrial Channel structure & Consumer Channel structure
Due to various factors, companies do not distribute their products directly to the retailer or to end consumer. One of the common factors is convenience. If a region has 100 retailers, and if the company is selling to 1000 regions, then you can imagine the number of retailers the company has to handle. This is practically impossible. This is why many companies have Wholesalers … [Read more...] about 9 Functions of Wholesalers which makes them important in Distribution
A concept statement is the essence of a business plan. If you are writing a business plan, know that this statement lays the groundwork for the plan for when you present it. Never at one point assume that the plan can speak for itself, it can’t. You need to include a statement that will help the audience (client/investors) to get a comprehensive understanding of the business … [Read more...] about What Are Concept Statements? How To Write A Concept Statement?
Emotional appeal is a persuasion method used to create emotional feedback or response from the target audience. Emotional appeals are often used to manipulate an audience into making an emotional decision or giving an emotional response. Emotional appeal is more prevalent in advertising but can also be used in courtrooms, churches, schools etc. Emotional appeal is used to boost … [Read more...] about What Is Emotional Appeal And How To Use It In Marketing
Whenever a new product launches in the market, it is difficult for the company or brand to forecast where the product will reach or how it will shape up. At such times, brands design the Product strategy. The product strategy determines all the steps which a brand will have to take to make the product a success. Alternatively, because this is how a strategy works, the brand … [Read more...] about What is Product Strategy? How to develop a product strategy?
Whenever you buy a product, you have certain expectations of the product. If the expectations are not met, then you as a customer will be very disappointed. To cater to your expectations, many companies provide Warranty or Guarantee with the product. However, consumers get confused with respect to the difference between warranty and guarantee. We will explain it in detail in … [Read more...] about Difference Between Warranty and Guarantee
Whenever you manufacture a product, you want to communicate the value of the product to the customers. One of the ways to do that is to use product labelling. Product labelling has become a means of communication between the brand and the consumer. Product labelling has very important information which is printed on the product packaging. What is product labelling? Product … [Read more...] about What is Product Labelling & what is the Importance of labelling?
One of the confusions which any small business owner, as well as a brand manager faces, is – Which brand colors should you choose to represent your brand? When we talk about brand building, it means we are serious about our business and we want it to be famous and remembered by our potential customers. Color is one of the primary senses we have as human beings and that is … [Read more...] about 10 different brand colors and what they stand for
Negative marketing is a technique that involves painting your business competitors in a bad light. It is a ploy that is often used by companies and businesses at large to make their products look better than their competitors’ in the eyes of consumers. This marketing technique has many times been condemned to be unethical and an unfair business practice. But still, some … [Read more...] about Negative Marketing: All You Ever Wanted To Know
When a manufacturing company produces goods, it needs to have a distribution channel in place to ensure the movement of goods from manufacturing to end consumer. This is why, most companies use various types of distribution channels to distribute their products. With services becoming more advanced day by day, even service products such as SAAS (software as a service) has … [Read more...] about Types of Distribution channels – Distribution channel types
One of the problems of the modern era of marketing is that there is competition everywhere. Go to any industry you want, you will see small and big players already existing in the industry. All of them are trying to get a market share for themselves. In such a hustle and bustle, achieving a premium positioning sounds difficult but is very much possible. Many brands, especially … [Read more...] about How to achieve Premium Positioning for a brand or a product?