Making outdoor advertising to stand out to the crowd Outdoor advertising is a great way to bring your message outside (quite literally) and direct it toward people en masse. Whether geared to pedestrian or vehicular traffic, or both, outdoor advertising can bring about tremendous exposure as long as it has been done properly.
Product Product Portfolio is a strategic group of products the company offers to its target customers and creates value for its stakeholders. The product portfolio can be made of related products/services or groups of unrelated products/services in case of large diversified companies. Planning and developing product offerings is a critical marketing function and has long-term […]
Developing value for your customers Once the business identifies customer needs and preferences the next step in the process is developing value proposition. The Value Proposition is related to the positioning strategy of the business which takes into consideration the target customers, direct and indirect competitors and general market trends (current trends and future predictions).
Customer Retention Rate is the percentage of the total number of customers who continue to do business with the company over a specific time period. The specific time period is determined by the company’s specific business and average frequency of purchase by the customers. Retaining customers (reducing customer turnover) is critical for profitability and business […]
Performing Customer Segmentation Analysis and dividing your customer base into different segments based on different criteria is a great exercise for discovering profitable segments and alternatives for growth in those segments. Customers within one customer segment have similar characteristics and are driven by similar needs and preferences. Analyzing and understanding your customer segments can give […]
A market research survey is one of the most simple and direct avenues that your business can take to obtain information from your current and prospective customers. The purpose of this technique is to obtain data from a segment of your target market so that you will be better informed regarding what they want and […]
Marketing Audit: Organizational Marketing Assessment Marketing Audit is an organizational marketing assessment approach with the purpose of analyzing the marketing approach. Marketing Audit is very useful exercise for any organization because it can reveal weaknesses and identify opportunities for improving the current marketing activities taken by the organization. Marketing Audit is strategic marketing assessment and […]
The marketing mix model is a process for planning and strategy development that involves four elements within your control. These are: Product Price Place Promotion
Developing Successful and Effective Marketing Plan The following is a list of most frequently considered issues by marketing and sales managers. Developing marketing plan is a process of creating a roadmap for building success in the marketplace. It’s about exploring the market trends and opportunities and outperforming competitors while building long-term competitive advantage.