Marketing includes a very important concept that is marketing mix; it has four major components that are promotion, people, price, and place. Nevertheless, in the marketing mix after the product, the second most important factor is the kind of price that is being used. This is because the distribution and the promotion mix can be modified by the kind of pricing being used. It can be an enormous job to set up the correct price for products and services while establishing a new company and it could be equally for a company that has a year of existence on the market. The problem could be that if prices are set too high, the risk may be losing customers or customers may not be interested in the product at all. If prices are set to low, the risk may be not returned on the investment and extremely low margins. Before establishing Continue reading
Marketing Techniques
Top Ten Advertising Mantras For Small Business
What will be the best resort for advertising and marketing especially for small scale companies needs to be identified. Here there are the top ten low-cost advertising methods which managers will find very useful. Creating your own Website: Today, when more and more people are turning internet savvy; for any company to come into the public eye having a company’s website is a must. A research has put forth that seventy percent of potential buyers’ first research about the product or service on the internet before walking to a mall or showroom to buy the product or service. If companies cannot invest money, then there are also free blogs and websites which offer domain names as preferred. Also, remember to market your website or blog by employing means of social media. Social media culture is on a rise, and publicizing about your presence on such platforms can result in potential Continue reading
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
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
Corporate Branding Case Study: ‘Power of Dreams’ Campaign by Honda
In 2002 Honda Motor Company was the number-three Japanese automobile manufacturer in the world, behind Toyota and Nissan. While Honda’s automobile sales in Japan and the United States were considered strong, sales in the United Kingdom and mainland Europe were thought to be weak, even though automobile production in the United Kingdom had been ongoing for a decade. Further, Honda vehicle sales had been declining in these regions since 1998. In response to these problems Honda hired ad agency Wieden+Kennedy London office to create an advertising campaign that would directly address the issues. ‘‘The Power of Dreams,’’ released in 2002, was an omnipresent campaign in the United Kingdom and beyond, using television, direct mail, radio, posters, press, interactive television, cinema, magazines, motor shows, press launches, dealerships, postcards, beermats (coasters), and even traffic cones. It built upon Honda’s company slogan, ‘‘Yume No Chikara,’’ which was first endorsed in the 1940s by Continue reading
Advergaming – New Trend in Marketing Strategy
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