Culture has a huge impact on the marketing strategies of a product. As culture affects a consumers’ lifestyle, so brands do focus on the cultural values of their consumer in order to make them believe that they really know their consumer well. The importance of culture in the world of marketing is huge. The …
Does culture really impact the marketing strategies? Read More »
Effective leaders understand that they cannot stick to a “business as usual” attitude even when things are going well if their organization is to grow in the long term. They need to find new ways of growing income and appealing to new clients. Many choices are available, such as creating new products or entering new …
For a global brand and the largest coffee house chain, Starbucks had humble beginnings. Due to its successful marketing strategy, today Starbucks has around 31000 stores in the world. So, what did Starbucks do differently? The success and acceptance of Starbucks by different cultures come from its carefully planned marketing strategy – Multicultural Marketing. …
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Blue Ocean is referred to the marketing of a product where there are less or no competitors for the same in the market. Blue Ocean strategy is applied across various sectors and businesses. This strategy is used when companies focus on generating more profit and grow in a field where there is no pricing …
A new product is a product that is new to the company. When we launch a product in the market, the most important thing as marketers to be kept in mind is to plan out the development of that product in the market. Product development is the next step after product planning. It includes some …
Branding, and Marketing – These marketing terms are only mental constructs for some, defining how a business runs, while for the rest, they often use these words interchangeably without actually realizing that they can’t be practically compared. We commonly hear marketing being used in place of branding and being seen as a part of the …
Have heard of “Jack of all trades and master of none”? It rightly emphasizes the significance of specializing in a particular product, service, or market rather than being a generalist. It is true while talking about the concept of Niche Marketing. Niche marketing is targeting a defined segment of the population with a specific …
Integrated Marketing Communications (IMC) is a process under which a company integrates and coordinates all its communications channels to deliver a clear and consistent message. The main aim of IMC is to ensure two things, which are, firstly the consistency of the message that they want to deliver and secondly the complementary use of media. …
The Howard Sheth Model of Consumer Behavior was put forward by John Howard and Jagadish Sheth in the year 1969. The model is an integrated form of factors like social, psychological, cultural influences on consumer choices into a coherent sequence. It focuses on explaining consumer behavior in terms of cognitive functioning and observed testable depiction …
The BCG matrix, also known as the Boston Consulting Group Growth-Share matrix developed by Boston Consulting Group in 1970, is a strategic planning tool uses graphical representations of the company’s products and services in order to assist the company to decide on the products it should keep, the ones to let go and the ones …
