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?
Marketing management articles
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?
To explain the pull strategy in Marketing, let us first understand the origins of this strategy. When it was the industrial revolution, the most common concept of marketing was the production concept. Industries produced goods for consumption and these goods were distributed in the market. The demand was more then the supply. Hence, it was all about manufacturing and not sales … [Read more...] about Pull Strategy in Marketing – Application and advantages of Pull strategy
Exclusive distribution, as the name suggests, is a type of distribution where the company ties up exclusively with a distributor. If you have read the article on difference between wholesalers, retailers and distributors, then you will note that the work of a distributor is to reach the retailers and wholesalers and sell the products to end customers through them. But while … [Read more...] about What is Exclusive distribution? What are advantages of exclusive distribution?
One of the common confusions when doing channel sales or when doing a market analysis, is the difference between wholesalers, retailers and distributors. If you don’t understand the distribution hierarchy, then this confusion is common. This article uses simple examples to explain the difference between wholesalers retailers and distributors. Let us understand the role of each … [Read more...] about Difference between wholesalers retailers and distributors
Businesses these days are becoming increasingly global. They are reaching out to every corner of the globe to make their presence felt and gain customers. This requires a centralised objective and goal in place to start off with and strategies to achieve these common goals, which is called as ‘Transnational Strategy.’ The business arm in every part of the globe needs to work … [Read more...] about What is Transnational Strategy and its role in Marketing strategy?
When you are dealing with marketing a good or service, you need to understand the market structure, identify a consumer base and ensure that your product is accessible to them when, where, and how they want them. You need to make the customers realize the value of your good or service and not the other way round. Effective marketing can be quite a challenge especially in an … [Read more...] about What is Utility Marketing And Four Types Of Utility Marketing?
Competitive parity is an interesting concept to study in Marketing. Let us first examine what competitive parity is and then move on to see what are its advantages and disadvantages. Though the context of competitive parity might not be clear from its term, its crux and concept is. Competitive parity on the face of it means being on par with competition. What is Competitive … [Read more...] about What is competitive parity and its role in Marketing?