Diversity is something fundamental in every aspect of life, let alone business. In fact, the business itself is a part of our lives. Diversity in business means if you are offering a product, how is it different from others? If you are offering services, how are they different from others? or how are your marketing tactics different from others? When …
Cost minimization is one core ingredient in any business’s objectives. Whether it is manufacturing cost, factory overheads, or marketing costs, businesses always look for cost-effective methods. Yes, traditional marketing strategies can consume big budgets, but there are many other inexpensive marketing strategies, such as piggyback marketing, that can help companies to convey their message cheaply. But what is piggyback marketing, …
Customer service is like a “life support system” for any business. A business does all the hard work from market research to product manufacturing, from marketing to distribution. But, if a business has weaker customer support, it not only misses out on a strong competitive advantage, but it may backfire as well. What is Customer Service? Customer service means the …
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 …
New companies and startups are always looking for a market share. But it is not that simple, because the market is already full of competitors that do not allow anyone to enter and disrupt and demand and supply. In this situation, companies can consider the market penetration strategy when they want growth at a lower-risk. Today, we’ll discuss market penetration …
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 …
If a company wants to have the maximum benefit from the marketing and sales efforts, it must segment its customers. Most businesses are not aware of the benefits of marketing segmentation. But if they do so, they will be able to convert prospects into customers and then into loyal customers. What is Behavioral Segmentation? Behavioral segmentation is a strategy that …
