Concept of Ethical Consumerism Over the last ten or twenty years, more and more people around the world, primarily in industrialized countries, have become better informed and more aware of the origins of the goods they purchase on a day-to-day basis, the buying policies and practices of the shops they visit and the policies and principles of the services they buy. In a growing number of cases, this increased awareness and knowledge is affecting consumer practices and may be the difference between someone buying a particular product or service or not. There are a number of reasons for this development, which is commonly referred to as “ethical consumerism”, or also “ethical consumption”, “ethical purchasing”, “moral purchasing”, “ethical sourcing”, “ethical shopping” or “green consumerism”. Fundamentally, ethical consumerism is consumers taking responsibility for their decisions in purchasing goods and services. Two key elements that have contributed to this development and that are Continue reading
Marketing Management
Marketing management combines the fields of marketing and management. Marketing consists of discovering consumer needs and wants, creating the goods and services that meet those needs and wants; and pricing, promoting, and delivering those goods and services. Doing so requires attention to six major areas – markets, products, prices, places, promotion, and people. Management is getting things done through other people. Managers engage in five key activities – planning, organizing, staffing, directing, and controlling. Marketing management implies the integration of these concepts.
Importance of Sound in Branding
The impact that sound creates on anyone is profound. Sound being one of the major five senses plays a vital role in everyone’s day to day activities. In a country like India, which has an extensive oral culture where even a form of medication has been passed on to the next generation orally; sound is something that matters to every single soul in one way or the other. Sound is prevalent in almost all traditional forms in India ranging from festivals to discourses. In a vast country like India, each state has its own culture and each culture has its own representation of sound in its own unique ways. Right from the birth, where a special song is sung to represent the birth of a new child till the death, where in some states there are different instruments played during funeral. There are different sounds that represent different emotional states Continue reading
Case Study: Apple iMac Ad Campaign
In the late 1990s technology analysts speculated that Apple Computer, Inc.’s fate hinged on its new personal computer the iMac. Apple’s share of the worldwide desktop-computer market had plummeted since 1995, the last year the company had been profitable. Ever greater numbers of consumers were buying personal computers (PCs) that ran on Microsoft’s Windows operating system rather than Apple’s version. Although Apple had pioneered user-friendly computers, the company had not introduced a consumer-targeted computer since 1992. Hoping that its stylish new iMac would propel Apple back into this vast segment of the market, Apple released its iMac ad campaign. The iMac ad campaign consists of a series of seven television commercials. These commercials advance Apple Computers newest generation of personal computers: the iMac. The iMac is a personal computer that is an AIO unit (All In One) and is housed in a translucent white and green case. Apple has attempted Continue reading
Advertising Mediums – Types and Selection Criteria
A manufacturer or a trader can make use of the following advertising media to spread his message to the people : (i) Press advertising, (ii) Outdoor advertising, (iii) Film advertising, (iv) Radio advertising, (v) Television advertising, (vi) Direct mail advertising, (vii) Display advertising, and (viii) Speciality advertising: The merits and demerits of these media are discussed below. 1. Press Advertising or Print Media Press advertising, i.e advertising through newspapers, magazines, journals, etc. is commonly used by modern businessmen- It may be noted that advertising is an important source of finance for the press or print media. Because of advertisements, the subscribers get newspapers and periodicals at subsidized rates. Newspaper Advertising. Newspaper reading is a common habit among most of the educated people. Besides daily newspapers, there are bi-weekly and weekly newspapers also Newspapers reach almost every place and are read by all kinds of people. Therefore, newspaper can be used Continue reading
Customer Value Analysis (CVA)
Whatever product a marketer has to offer in the market, one thing is sure, it’s going to get competition. It depends on the product type and marketplace what degree of competition it’ll get. In highly competitive marketplace, managing the non-price purchase and satisfaction drivers that matter most to customers can positively impact market share. Customers make purchase decisions based on how valuable they perceive the quality of available products or services as they relate to price. Those organization’s that are perceived to offer low value are highly unlikely to attract new customers and retain their existing customers. In a highly competitive market, an organization’s competitive position is determined by the perceived value of its products and services, relative to the competition. Customer value analysis is a powerful analytical technique that help marketing managers to measure and grow relative market share. What is Value Analysis Value analysis is a process to Continue reading
An Introduction to Affiliate Marketing – Steps and Strategies
One of the easiest forms of online marketing is affiliate marketing. It is a marketing strategy where a merchant or a business house pays an affiliate for making a sale of their products and services. In short affiliate marketing means redirecting or referring a customer to a product or service that the affiliate marketer recommends with the intention of converting him into a client. The affiliate marketer is paid on the basis of the sales he or she generates for the company or the business house. The four main people involved in affiliate marketing are the seller/company/business house/brand, the affiliate or the network which promotes the product, the publisher and the customer. There are also secondary players involved in this game of affiliate marketing. They are the affiliate management agencies, the super affiliates and the specialized third party vendors or sellers. Affiliate marketing and internet marketing do overlap at times Continue reading