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 …
What do you do when you see a saleable commodity, and it touches your heart? Or, you may have to buy something of significance. Generally, the purchase decision is a process that includes many steps such as product evaluation, product comparison, benefits analysis, etc. Let’s say you finally made a decision to purchase that specific product or service. You will …
One of the biggest challenges retailers have to face is how to use their brick-and-mortar stores effectively. That said, how can they use the available space in the best possible way. Retailers also need to be careful when it comes to product placement because putting your customer at ease is equally important. So, it is obvious that a retailer needs …
There are several misconceptions when we talk about business concepts. For instance, a lot of people think that revenue and profit are the same things. In reality, they are totally different; when you deduct expenses from revenue, you get your profit. Similarly, selling and marketing are also two very different terms. Here is another very interesting fact, there is also …
