It comes as no surprise that this generation considers social media or digitalization to be the only channels for advertising or marketing practices. However, social media and “proper digitalization” are hardly 2-decade old children. Moreover, before these “revolutionized digital marketing practices,” print advertising was the most effective and widespread type of marketing. Yes, things have changed dramatically, but does that …
When you’re launching a product/service into the market, then you have set its right pricing. It shouldn’t be too high and low depending upon, and freemium is also one of the pricing strategies. Today, we’ll discuss the freemium pricing strategy, its types, and pros and cons. What is Freemium Pricing? Freemium pricing is a combination of two terms; premium and …
Businesses and companies use various methods to determine the price of their product. Usually, they set the price based on the cost of production, and add some profit margin, and then it’s a sale price. Some other businesses set the price long before knowing the cost of the product. Today’s we’ll discuss target pricing strategy, why businesses follow it, its …
Nothing is constant except for the change. Everything, since its inception, has evolved. Talking about evolution, business practices have been a perfect example of this phenomenon. Marketers and entrepreneurs have left no stone unturned when it comes to marketing practices. Companies have advertised their products or services on all possible channels. They have targeted social media, print media, digital media, …
The first and foremost objective of any business is to grow and earn profit. When they start making a profit, their next goal is to stabilize their earnings. That’s what stabilizing strategy is all about. Today, we’re going to discuss stabilizing strategy, its types, and examples. What is Stability Strategy? The stability strategy is the business strategy of any corporation …
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. …
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 …
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 …
