A person hitting the gym for maintaining his/her fitness levels will have different ambitions than someone who is competing for Mr. Olympia. Both of them use the same resources and tools but have different objectives. Similarly, different types of businesses have different preferences or objectives. That is why businesses use different business strategies to accomplish their objectives or goals. Business …
Customer retention and customer acquisition are surely one of the core objectives of every business. Whether you are a wholesaler, distributor, or retailer, you would love your customer base to increase on a regular basis. But the question is, how can you drive more sales with the help of your marketing strategies, especially if you are a retailer? Well, this …
Every business market has a market leader and some market followers, and they all play a specific role and follow various strategies. Today, we’ll discuss market follower strategies, their meaning, types, and pros and cons with examples in detail. What is Market Follower Strategy? A market follower is a business or a company that follows the footstep of the market …
It’s very difficult to achieve a leadership position in the market. The competitor businesses would challenge your company’s strengths, or they try to take advantage of your weaknesses. If new and current businesses are following the latest trends, then it would weaken your leadership position in the market. Businesses and companies use various strategies to maintain their position in the …
Wherever there is a market, there will be competition. In fact, it won’t be wrong to say that in the business world, the term “market” itself is synonymous with competition. If a new business is entering a market, there will be competitors up front who have already captured the market share. So, what does a new business do? Should it …
We all love bakery’s flour-based food products like pastries, pies, cookies, cakes, and so many other delicious items. Just thinking about bakery products makes your mouth watery. However, other industry businesses also serve bakery items like coffee shops, tea houses, cafes, and small shops. Bakery shops also offer and produce many confectionary items. According to an estimate, there are roundabout …
Experts have defined marketing differently, but as the marketing practices have evolved, one thing is for sure; Marketing Is Nothing Without Innovation. A few decades ago, a business would start selling a product a people used to buy it. Why? One, there wasn’t a lot of market competition. Two, consumers didn’t have much awareness about the products, brands, and “what …
Personal selling has become very important in today’s competitive world of the internet and social media. Applying personal selling techniques seems necessary in the sale and promotion of the consumer products like publications, pharmaceuticals, cosmetics, and home appliances. It helps them to amplify the sale and the company’s revenue. Many customers also expect and prefer a personal selling approach from …
The usage of the internet has been increasing for the past few years and it is attracting the attention of businesses to use digital media platforms. Digital media has become so influential that it plays a significant role in the decision-making process of people. Today, we’ll discuss digital marketing, the advantages of digital marketing over traditional marketing, and its disadvantages. …
Buyers will not attract to your products and service until you make them advocate and aware. For this reason, you need to communicate the feature, attributes and benefits of your offerings with them. Nowadays, offline and online communication strategies enable marketers to wider their product reach and customer base. What is Marketing Communication? (MarCom) Marketing communication (MarCom) is the process …
