There are numerous models of marketing but let’s check the most fundamental which is;
The 4 Ps of marketing
Products,Price,Place & Promotion.
This may be a physical product or it may be your service proposition. The key here is that something is developed that people actually want to buy. Some businesses begin with a product and then try to force that on an audience. If there is no demand for your product and no one is interested then you will not be able to create demand.
Pricing is the second P and one that can be more of a science…
Rather than create new customers right now, you can work on maintaining your relationships with your past customers.
Today companies can do this by knowing their customers, and finding ways to make customers’ lives easier and better.
Like any relationship, exploit it and customers will run from the building.
In a post coronavirus world, it could be a long haul back to business as usual. This is the time to think about your relationships and how to keep them healthy. Customers tend to be people of habit, and many enjoy the benefits that come from being loyal to a brand.
Research has long established the link between customer
experience and revenue.
But research shows the situation is more nuanced—and more
Customer experience (CX) is in fact locked with employee
experience (EX) in an intricate relationship in which one
depends on the other to gain maximum results.
In addition,the right strategic efforts have critical implications that can
result in higher revenue growth.
The conclusion that happy employees and happy customers go together isn’t only comforting.
It also points toward a powerful way for companies to grow faster. New research indicates that good EX leads to good CX and, in…
Goals are high-level statements about what you need to achieve in order to deliver against your vision. Goals tend to be long term and therefore set out the underlying elements of your vision.
They bring your vision statement to life by moving it towards a practical reality. Goals need to be structured to meet a set of criteria. I call these the 4 Rs:
Relevant : does it fit with your vision?
Resonating: does it fit with your business’s values and goals?
Responsive: is it adaptable and flexible so that it can change if needed?
Recognizable: is it easily understandable?
Brand Positioning Mapping.
When it comes to digital marketing strategies for market positioning, we have several, the 4p’s, Porter’s five forces... Etc
But the one that always work for me is the Brandpositioningmapping :
These maps are not, however, built from your views of your marketplace(*) but from the perceptions of consumers,
These maps give a clear view, albeit a little subjective, of where your brand or products sit versus your competitors.
Most perceptual maps are drawn with two axes, X and Y.
They intersect each other in the centre and so form a cross. This is not the only…
Retailers are reimagining the purpose of physical retail space. We reported in our previous Shopper Culture Post: Pivoting Physical Retail to Digital that many retailers are responding to government shut-downs and social distancing mandates by developing more immersive online shopping experiences. In addition to supporting new digital and e-commerce offerings, many retailers are reinventing their physical spaces.
Uniqlo upgraded their space surrounding the Tokyo outlet as a ‘destination store’. The front of the store functions as a park and playground where families can go to relax and have fun for an entire day, rather than somewhere solely for shopping. …
For virtually any modern brand, regardless of their industry, a digital presence is critical. B2C brands need to engage with consumers on digital platforms, while B2B companies can use these same platforms to position themselves as thought-leaders. Brands without an active Twitter or Instagram are effectively invisible. These platforms are the fastest, easiest ways to communicate with a target audience.
But new brands often struggle with building this presence. Either they can’t parse exactly the kinds of content their audience experts, or they simply give up when they don’t see immediate results. Social media growth is a slow-burn: pages must…
According to recent data more than 60% of U.S. restaurants have permanently closed since the start of COVID-19. While many restaurants are worried that winter weather may mean another downturn in sales, some are starting to slowly recover (national weekly sales hit just above 71% of pre-COVID-19 volume in August). As shoppers become more fatigued with their at-home cooking routine, it makes sense that many are beginning to spend more time and money at restaurants — they’re just not telling their social circles about it.
In the pre-COVID-19 era, food lovers were constantly “feeding their phone first,” with 27% of…
With this year’s full-moon Halloween on the horizon, shoppers are planning to enthusiastically celebrate despite the pandemic and rising cases across the country. Candy companies were uncertain earlier this year about what sales this season would look like, but people are proving they’re unwilling to give up Halloween candy even if they’re not trick-or-treating.
While 50% of consumers will be surprised if they get trick-or-treaters, 80% of consumers plan to purchase the same amount of Halloween candy they did last year, if not more. Current candy industry sales reflect this trend, with this year’s sales up 13% over the past…
Everyone preaches for change in the abstract but on the ground people are inclined to habit and familiar norms. Too much innovation is traumatic and will lead to revolt.
Organizations are inclined to create new innovation and changes to be more profitable or for regulations.Most managers expect the new wave to be accepted immediately but in the long run things don’t turn out as expected. knowing the real cause they resort to other measures to implement the changes for example pegging the changes required to performance this later affects workers moral and ultimately output hence dwindling profits I have narrowed…
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