To survive in the global and competitive business environment, it is essential for a companys to conduct extensive research so that they can develop a strong brand image from the initial stage as it leads to greater financial benefits for the company. The marketing plan of Apple’s iPad is the topic where an effective marketing strategy is developed to ensure its success in the global competitive market where major plays such as Sony, Compaq and Dell have a significant impact upon Apple’s strategies. Apple’s latest iPad is the revolutionary product which is a portable mini device used as a pc anywhere with its wide range of options and innovative design. Apple’s marketing strategy will be focusing upon the product design, brand positioning, price and promotion of iPad in the global market. This will be linked to the research and analysis of the environmental forces and SWOT analysis to understand the Continue reading
Modern Marketing Strategies
Customer Segmentation Analysis
The buying behavior of customers will vary by segment, such as the elderly, the affluent, where people live, and so forth. If you want to understand how to compete, then you should understand the purchasing processes — who is buying what from whom? You can start your analysis with various customer segments and then test each hypothesis to see if this segment is buying the product or service. This type of analysis, referred to as customer segmentation analysis, helps the organization focus on those segments that provide the greatest growth. Customer segmentation analysis identifies and profiles promising target customers so that you can reach them with optimal marketing mixes. All consumer markets contain many subgroups of customers and prospects who behave differently, have different hopes, fears and aspirations, and have different purchasing behaviors. Segmentation enables a company to craft individual marketing plans that hit the “hot buttons” of each consumer Continue reading
Syndicated Data and Standardized Services in Marketing Research
Today, over $20 billion a year is spent on marketing/advertising/public opinion research services around the world. Spending on marketing research is $6.9 billion in the United States alone. During the past two decades, the research market has become highly concentrated, with about 54 percent of the market being held by the 50 largest worldwide organizations. The other half of the market is shared by a thousand or more small research firms. The concentration is even more pronounced in the United States, where the 10 largest firms account for 64 percent of total U.S. spending for marketing research. In the highly competitive retail market, understanding the customer is paramount. In order to fill in the gaps of consumer’s buying motive and actual buying, companies have to understand the customers, and of course, marketing research is the tool for gaining knowledge about the customers. Marketing research is a systematic gathering of information Continue reading
Why do Firms Go Green?
Environmental issues have gained importance in business as well as in public life through out the world. It is not like that a few leaders of different countries or few big renowned business houses are concerned about the day to day deterioration of oxygen level in our atmosphere but every common citizen of our country and the world is concerned about this common threat of global warming. So in this scenario of global concern, corporate houses has taken green-marketing as a part of their strategy to promote products by employing environmental claims either about their attributes or about the systems, policies and processes of the firms that manufacture or sell them. Clearly green marketing is part and parcel of over all corporate strategy; along with manipulating the traditional marketing mix (product, price, promotion and place), it require an understanding of public policy process. So we can say green marketing covers Continue reading
What is Social Marketing?
Nowadays, social marketing is very common in lots of places, for example government agencies, private nonprofit organizations, private for-profit firms and universities. However, many people don’t know what does social marketing is and how it differs from similar fields such as communications and behavior mobilization, it is being confused with generic marketing like ‘societal marketing’ and ‘socially responsible marketing’. There are some practitioners are doing social advertising but they think they are doing social marketing. Social marketing is to understand how to influence people’s behavior in a good way and make better standard of living for human, so it is necessarily to make all these marketing concept clear and to understand them more deeply. To discuss the concept of social marketing, we first have to know the definition of it. Social marketing is defined as the design, implementation and control of programs calculated to influence the acceptability of social ideas Continue reading
What is Customer Retention?
The customer retention is one of the approaches based on consumer behavior. It helps company to retain the customers, not even current customer but also attracts new customers and potential customers in domestic market and around the world. This approach helps customers from action to reaction in order to keep contact with them. Those marketers who recognize the important of customer retention will push as much emphasis to create or strengthen brand loyalty. The improvement of customer satisfaction and customer retention come from variety of activities available to the company. The gain in customer retention comes from improvements of service quality, customer complaint handling and service feature. Caring for existing customers used to be second to attracting new customers. Within a company, there is always a need of the salesperson who acquires the new customer as well as a salesperson that take care old customers. Nowadays, most of companies prioritize Continue reading