The question of what advergaming is can be approximated in different ways. In the manner of linguistic portmanteau it is of advertising and gaming. Technically, it is the practice of using video games to advertise a product, organization or viewpoint. As a term, it was coined by Anthony Giallourakis. Later on it was mentioned by Wired’s “Jargon Watch” column in 2001. An advergame is an online video game that has brand related images and/or themes embedded within it. As marketers have begun to catch on to the idea, websites containing advergames have been published by a diverse variety of corporations and non-profit organizations. Besides the usages of product placement within a game, a more effective and innovative way of designing a game only for the purpose of advertising a brand or a product is recently being used by advertiser in order to reach to targets on an online platform. 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.
Stages of New Product Development
New products are the lifeblood of the organization but they are extremely vulnerable and the majority never reach commercialization. In competitive markets, the best and strongest firms sustain growth through the introduction of new products and services to meet the changing needs of the consumers. All products have a finite life span and this is influenced by the type of product, its innovativeness, the management of the product through its life cycle, as well as the markets in which it is sold. All products will eventually decline and need to be replaced by new ones and companies need to be adept at adapting marketing strategies to respond to the dynamics of the environment, so as to manage the product through its life cycle effectively. New product development is the process of developing a product from initial stage of Design to Physical Reality using concept of Designing, manufacturing processes and other Continue reading
Application of Nostalgia Concept in Marketing
The historical term of nostalgia, initially started as a medical term. The term was coined in 1688 by Johannes Hofer (1669–1752) in his Basel dissertation to refer on ‘homesickness’. Homesickness was one of the most serious sickness during that time. The term of “nostos” which means return and “algos” which means pain, were introduced to described people that suffering pain because of being far away from home and have needs to return to their home. Subsequently, the term ‘nostalgia’ evolved, and moved away from being a disease. Nostalgia known as a term that refer to time: past, present and future. In order to be classified as nostalgia, there are four factors that need to be fulfilled: An emotional feeling of being lost in space and time. An emotional feeling due to loss of values and references of civilization. A personal loss feeling occurred because of less freedom. Insecurity on a mass consumption culture Continue reading
Why Marketing Strategies of Global Companies Sometimes Fail
‘The world today is a global village’ it’s a fact. But the global village still has some tribes and it is very important to keep all the tribes happy if we need to have good relationship with all of them. Since the globe is accessible to everyone, it is also vital to design the marketing strategy and develop it in the perspective of variations in the culture, traditions, taste, weather and norms of a country. One of the most striking trends in business has been growing internationalization of the business. Companies are going global but they have to keep their customers satisfied domestically and internationally. The internationalization affected the business strategies and the companies are in the rethinking process to counter the problems in the global marketing strategies. Marketing is no exception to this. Attitude of the customers in this regard is very important for designing the marketing strategy, especially Continue reading
The Major Aspects of Brand Management
Brand management refers to the activity of overseeing or supervising the promotional activities that are carried out for a branded product or service. It involves detailed planning and analysis and has an important role to play regarding the manner in which a brand is thought of and viewed as in the market. Some tangible brand management elements are the product itself, packaging, the price and the look. This article analyzes various aspects associated with the brand management process such as the way brand are built and managed over time, the manner in which brands are organized in portfolios and how brand hierarchies are built and managed. It also assesses how brands are leveraged internationally and domestically and the different techniques that are used for measuring and managing brand value over time. Understanding How Brands are Built and Managed Over Time Building Brands The brand refers to a symbol, term, design, Continue reading
Limited Editions as a Marketing Strategy
The term “Special Edition” or “Limited Edition“; when used in marketing management, intends to give the product something new and previously unseen in the regular edition. Limited Edition marketing strategy carries a sense of immediacy and exclusivity as the products would only be available for a short time and/or in limited numbers. The term “Limited Edition” has its origin in the publishing industries where limited numbers of copies of books are printed with top quality impressions. These limited editions are sold at a premium price. Although limited edition are sold at premium, there are many FMCG companies which have implemented this concept minus the premium price. The industries which are using limited edition marketing strategy are automobiles and luxury lifestyle products such as wrist watches, designer wear, etc. There can be variety of motivations for a marketer to launch products as limited or special editions. The reason can Continue reading