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Showing posts with the label Marketing Management

Marketing Management Tips

I. Three Cs of communication 1. Connect to the customer’s need then explain the benefit of purchasing your product that how it will fulfil the customer’s need. 2. Convey to the customer that how are you providing solution to the customer, illustrate him the product features will solve his problems. 3. Convince - Convince to the customer, what is in for me WIFM  in buying your product. II. Clients need, interest, concern Is important and hence focus on these issues to develop a product or service. Understand your clients need, interest and concern III. Marketing means pull strategy Hence become a person to provide solution to the customer. IV. Proper gap analysis and need analysis It will lead to excellent product or service. -         - Focus on benefit (features are giving customer maximum                 benefit) -         - Focus how this will lead him to Competitive advantage V. Pricing: A bus...

Brand Management

1.     Customer's Interest: Always focus on the interest of customer in order to promote and spread brand awareness. 2.     Extreme Emotions: Always the advertisement should be focused on the emotional feelings, so that the they can connect with the brand.    3.     Free Bees: It should be offered in form of coupons, some kind of gift hamper.   4.     Surprises: Every product should bring a surprise feature for the customers, to delight them.  5.     Jingles: Rhythm connects a product to a customer, hence it should be used for branding. 6.     Create urgency: Creating hype of a product or a service, this leads a sense of urgency amongst the customers.

Market Potential and Market Share

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To create future demand is known as "Market Potential".For locating the market oppurtunities a company has to trace the different and specific requirements of the customers. For this there is a procedure to be followed and it begins from analysing,assessing the culture, beliefs,behaviour,habits and motivations of each different community in the market. A company has to identify new profitale sectors where they can fetch more benefits and also offer potential business. Market share is the actual share in the market by any company for its product and the maximum share can be attained by product differentiation and it should be based on mass customization. Once potential is defined then same should be explored to the maximum for increasing the market share.