Learn more about business with this collection
How to analyze churn data and make data-driven decisions
The importance of customer feedback
How to improve customer experience
Focused marketing campaign by selecting a target market
If you supply menstrual products, then your marketing is obviously only going to be effective on part of the population; it’s this group that you want to target.
If the target market you choose is too narrow, you risk not having enough customers to be able to service the market profitably.
The profitability of a target market depends on a number of factors – like how many people belong to that market, what their average income is, and how well their needs are currently being met.
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708 reads
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Research is crucial to identifying marketing opportunities
If you intend on bringing a new product to market that claims to fulfill a consumer need, then you actually need to know what that need is.
This is the method that Toyota used when it deployed researchers to hang around supermarket parking ...
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809 reads
Make your product more appealing by positioning it uniquely
- Do you want to be the low-cost leader or the luxury provider?
- Align your product to a specific benefit. For example, the Head & Shoulders shampoo brand positions itself as good for eliminating dandruff, which makes it appealing to co...
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687 reads
Marketing’s job is never done. It’s about perpetual motion. We must continue to innovate every day.
BETH COMSTOCK, FORMER CMO & VICE CHAIR, GE
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1.3K reads
_Build something 100 people love, not something 1 million people kind of like_
BRIAN CHESKY, CO-FOUNDER & CEO, AIRBNB
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922 reads
Improve your long-term marketing strategy
It’s essential to figure out what went wrong and what went right in order to make corrections and improvements in the future. The most rigorous and effective way to do this is to perform a marketing audit.
To begin a market...
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473 reads
5 steps to turn into a marketing success
- Research market opportunities
- Choose your target market carefully
- Decide on a unique positioning
- Implement marketing tactics, and
- Audit the results.
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Discovering and marketing a product idea
All marketing can be categorized into one of three types: responsive, anticipative, or need-shaping.
- The invention of the washing machine is an example of responsive marketing fulfilling a pre-existing, laborious task of washing clothes.
- Perrie...
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1K reads
Customer is king
The old 4 Ps framework must now be replaced by the 4 Cs framework focusing on customer value, cost, convenience and communication.
- Customer value: Forge long term enviable customer base. One such examp...
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607 reads
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Identify your target market
Working out who your target customers are will help you to identify the stores which are most likely to want to stock or sell your product, as well as being able to tailor promotional materials and marketing approaches for that demographic group.
Retailers will also prefer it if th...
You don’t need a huge target market
One of the main things that VCs are looking for is a huge target market, usually at least $1 billion, that you can address through your startup. The reason for this is simple: VCs invest in multiple startups with the understanding that some of them will fail, some of them will not grow very much,...
The Law of the Ladder
The strategy to use depends on which rung you occupy on the ladder.
It is not all over if you fail to be the first in the prospect's mind. There are also strategies to use for No. 2 and No. 3 brands.
Not all products are equal. Your marketing strategy should focus o...
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