There are some gaps in between a company and its customers. These gaps are due to customer expectation with the brand and that expectation is not met with the actual brand offerings including other factors, which made customer experience not only negative but at the level of irritation. This customer irritation ultimately turns into brand irritation if necessary actions are not take. Brand irritation word coined by the Mr Alison Eastwood in the year 2003 in his article named “Brand irritation”. But in this article he had discussed on the term brand integration (the use of commercial products in the story line of a television show, film, etc. and involving the development of specific objectives, strategies, plans, and tactics to drive the business) and connecting it with the use of brand integration in American idol and same kind of initiatives adopted by other brands. He relates it with out of Continue reading
Marketing Concepts
Methods of Pricing a New Product
We will address the following questions after new product development: How should a company price a new good or service? How should the price be adapted to meet varying circumstances and opportunities? When should the company initiate a price change, and how should it respond to competitive price changes? In the entire marketing mix, price is the one element that produces revenue; the others produce costs. Price is also one of the most flexible elements: It can be changed quickly, unlike product features and channel commitments. Although price competition is a major problem facing companies, many do not handle pricing well. The most common mistakes are these: Pricing is too cost-oriented; price is not revised often enough to capitalize on market changes; price is set independent of the rest of the marketing mix rather than as an intrinsic element of market-positioning strategy; and price is not varied enough for different Continue reading
Why Integrated Marketing Communication is Important?
For marketing communication to be successful, sound management decisions must be made in the other three areas of the marketing mix: the product, service or idea itself; the price at which the brand will be offered; and the places at or through which customers may purchase the brand. The best promotion cannot overcome poor product quality, inordinately high prices, or insufficient retail distribution. Likewise, successful marketing communication relies on sound management decisions regarding the coordination of the various elements of the promotional mix. To this end, a new way of viewing marketing communication emerged in the 1990s. It is called integrated marketing communication; this perspective seeks to orchestrate the use of all forms of the promotional mix to reach customers at different levels in new and better ways. Why Integrated Marketing Communication is Important? The evolution of the above mentioned perspective has two origins. Marketers began to realize that advertising, Continue reading
How to Use Customer Service as a Competitive Advantage for Small Businesses?
Customer service is the provision of service being provided by the seller to customers before, during and after a purchase of any product. A customer is a person who buys products (goods or services) from a shop or a business organization. Customer service is a series of activities designed to enhance the level of customer satisfaction — that is, the feeling that a product or service has met the customer expectation. It is also the process of assisting another person or persons who buys goods and services from a shop. In order to make the organization effective and productive, all the employees need to develop a positive service attitude towards customers. The goal of quality customer service in any organization is to send a positive message with a good attitude to the customers to make them more loyal and happy thereby. Such a message must focus on addressing the needs Continue reading
Advertising Creativity – The Role of Creativity in Advertising
The creative part of advertising involves the process of selecting and presenting the messages. The business of conceiving, writing, designing and producing these messages is called advertising creativity and the key wordsmith is called a copywriter or copy chief or copy supervisor. The success of advertising depends to a great extent on the quality of the message or copy of advertisement rather than the money spent on advertising. The conventional theory of advertising includes the concept of AIDA (Attention, Interest, Desire and Action). Most of the advertisers believe that the message in advertisement copy must attract the attention and interest of the consumer if buying is to result. But they forget that only good advertisement copy or good message can attract the attention and interest of the receiver until and unless the much advertise product attributes have a strong impact on consumers. The consumers come to know the existence of Continue reading
Brand Building Process – Process of Building a Brand
The art of marketing is largely art of brand building. When something is not a brand, it will probably be viewed as a commodity. Then price is the thing that counts. When price is the only thing that counts then the low cost producer wins. But just having a brand is not enough. What does the brand name mean? What associations, performances and expectations does it evoke? What degree of preferences does it create? 1. Choosing a Brand Name A brand name first must be chosen then its various meanings and promises must be built up through brand identity work. In choosing a brand name, it must be consistent with the value positioning of the brand. In naming a product or service the company may face many possibilities: it could choose name of the person (Honda, Calvin Klein), location (American airlines), quality (Safety stores, Healthy choice), or an artificial name Continue reading