Being famous is equally important as creating a value-added product or service in today’s world. Corporations spend hefty budgets on their marketing strategies in the form of sponsorships, advertisements, social events, etc. But, these are paid forms of marketing. One extremely important objective of devising marketing strategies is to strengthen public relations. Talking about public relations, companies often go for …
What is the fastest way to reach a customer directly? Generally, some of the quickest channels for businesses to reach out to their customers or potential customers are fax, telephone, or internet. These types of practices have been in business for a long time, and they had their fair share of controversies. But, apart from this minor element, this mode …
Do you ever get annoyed when commercial ads interrupt your favorite TV show? Or your social media account is bombarded by different promotional ads? Well, this is a common thing nowadays. With fearsome competition among brands, every business is trying to promote its brand identity at all possible channels. However, this often irritates your target audience if you just keep …
What is the prime objective of a business? Customer satisfaction and profits. These two objectives move parallel and are equally important. How can you satisfy your customer? Of course, you need to make a product that meets or even surpasses their expectations. But, is that it? No, making a great product is one thing. But, helping your customers in any …
Marketing, as an integral part of any business, has seen some revolutionary changes in the past few years. The rise of the internet and social media created new opportunities for marketers. Along with many other improvisations, direct marketing has been a great addition to the marketing strategies. Direct marketing has not only proved to be useful, but it also surpassed …
Businesses always try to facilitate their customers as much as possible. For instance, online/non-store retailing allows customers to buy a product without physically going to any brick-and-mortar store. It not only saves their time but is easy and convenient as well. Apart from online retailing, businesses facilitate their customers or even potential customers with direct marketing. That is, rather than …
The retail industry is the oldest but still a common form of business. Traditional retailing involves selling products at a physical (brick and mortar) store. Common examples include franchises, hypermarkets, supermarkets, malls, etc. However, the advent and the evolution of the internet has also revolutionized business practices. New business concepts have evolved with time, and selling products without a traditional …
Competition is the basis of the success or failure of firms. It also controls the appropriateness of a firm’s activities that can affect its performance. Firms compete because they are looking for a competitive position in the industry. To gain a competitive advantage in the industry firms can choose differentiation strategy Cost leadership strategy Focus strategy Firms with a cost …
The prosperity of the economic setup of this world depends on the customers. That said, more customers would mean more sales and, ultimately, more profits. Or you can say that sales are a decisive factor in any business’s success. Businesses used several informal techniques in the past. People had to cover vast distances to search for new markets, faced many …
