Have you ever thought that you can also buy a product at a price below its cost? If I tell you that you can. I am talking about loss leader pricing, which is an aggressive pricing strategy. Today, we’ll discuss the loss leader pricing strategy in detail and why businesses are willing to follow it. What is Loss Leader Pricing …
Marketing strategy helps you to understand your target customers, the company’s goals, and advertising methods and techniques to reach more audiences. So that you could plan everything on time, and avoid unexpected circumstances in the future. Today, we’ll discuss different types of marketing strategies, and how you can choose an effective marketing strategy. Here it follows; What is Marketing Strategy? …
K.T. Chandy first started addressing social issues through marketing in 1963. It was marketing and spreading awareness about issues like; reproductive health program, HIV prevention system, on-site sanitation, diarrhea, water treatment, malarial control, and other basic health issues. After the 1980s, the marketing of awareness about various social issues has expanded. It started including macro issues like transportation management, ecosystem, …
In this era of science and technology, we have a plethora of information about companies and businesses around us. It ranges from clothes, shoes, and edibles. According to an estimate, 80% of the customers think businesses play a crucial role in completing various social processes. Even we should call it an era of customers, where brands and companies compete with …
A public image of the company is also an asset. According to a study, 63% of the worth and value of any business is due to the public image. If an incident causes a bad reputation to the company, the very foundation of the company would be in great jeopardy. It would take approximately 7 years to overcome and recover …
Over time, every company wants to expand its product range. Some companies try to develop new products to its portfolio, while others develop the extension or remake of the existing products. A group of related products constitutes a product line, and the combination of different product lines makes the product mix, which is owned by the parent brand. For example, …
It is crucial for marketers to not only attract new customers but also retain existing customers. It is worth-mentioning that acquiring a new customer can cost you five times more than keeping the existing customer. If companies are unable to increase their customer base, they will be unable to survive in the long-run. Relationship marketing plays a crucial role in …
What is Customer Engagement? Customer engagement is the process of developing connections and consistently interacting with customers. When you interact and engage with customers, then it would build loyalty among them, and they would promote and buy your product. Most importantly, you should provide a unique customer experience to your customers. Technology has made it easier to start your e-commerce …
How many times you have signed up to received email notification and special offers from different brands and services. I know the answer, “Yes, many times.” When I open my email, I can see tons of notifications and promotions from digital products like MyThemeShop.Com, etc. Since I am a member of Hyper Mall, a local departmental store, they text me …
Customers in the target market are located at different locations across the country. The company needs to make the product easily available and accessible to customers everywhere. Therefore, selecting the right distribution channel for the product is the main element for the success of the company’s marketing strategies. When the product is easily available to the customers, then it increases …
