If you have to teach 1000 people, what options do you have? One, you teach them directly. Second, you train ten people and ask them to train the others. Generally, it will be easier to teach ten people effectively rather than teaching 1000 directly. What if a business applies the same mechanism in marketing strategies? Yes, it is vital to …
Online advertising may be the biggest change in 20th-century marketing practices. Yet, the traditional advertising techniques hold equal importance. Businesses may have kept online marketing as their priority. However, that doesn’t mean they don’t pay heed to conventional advertising channels, e.g., out-of-home advertising. Even the industry giants such as Facebook, Coca-cola, Amazon, Netflix, etc., spend massive budgets on out-of-home advertising. …
The purpose of planning and strategy is to maximize business productivity and growth. That’s why companies develop corporate strategies. Today, we’re going to discuss corporate strategy, its types, components, and examples. What is Corporate Strategy? The corporate strategy follows the portfolio approach to make a decision where you look at all of the company’s businesses and analyze how to generate …
Growth is something that all businesses and companies want. When we say growth strategy, it isn’t just a plug that gives you immediate results. It’s a process of creating a team and organizing mindset. Ryan Holiday says about growth more of a mindset than a toolkit. Today, we’ll study growth strategies, definitions, types, and examples. What is Growth Strategy? A …
Businesses and companies hope to succeed in their business. But what if the new business units don’t deliver the expected results, there should be a contingency plan of getting rid of that unit. That’s what divestiture strategy is all about. Today, we’ll discuss divestiture, its types, and reasons with examples; What is Divestiture? Divestiture is a process of shutting down …
Ever heard about guerilla war in which opponents use unorthodox techniques of warfare? Both parties use irregulars, armed civilians, paramilitary personnel, undercover agents, etc. The objective is to damage the opponent without getting noticed. But, do you know about guerilla marketing tactics? No? It is one of the less-known types of marketing where brands market their products without being obvious. …
All types of marketing strategies have one objective in common; generate sales. Yes, firms also focus on developing a customer base and customer loyalty. That said, businesses focus on developing repetitive customers rather than focusing too much on acquiring new customers. On the contrary, different businesses also look for the other way round. Many brands also focus on generating sales …
Businesses and companies allocated marketing budgets and launch promotional campaigns to increase their sales and revenue. When the marketing campaign doesn’t deliver the expected result, then there’s no point in spending resources. Today, we’ll discuss harvesting strategy, definition, types, and examples. What is Harvesting Strategy? A harvesting strategy is a plan and management decision to reduce all the marketing expenses …
Imagine you want to be, let’s say, a detergent manufacturer, and there are thousands of other detergents in the market. Why do you think customers will buy your detergent from a cluster of “million options”? However, if your detergent has unique features that can give your customers unique benefits, then that is a different story. People don’t want to buy …
The goal of any business or company is to develop a product or service and then launch it in the market. Today, we’ll be discussing various types of products with examples. Types of Products Marketers perceive products as something that they’re going to offer in the market. However, they categorize the products into two broad categories; consumer products and industrial …
