Saturday, January 9, 2010

Initiating Price Changes

Price cuts
Falling sales or market share – demand issues
Grab market share from competitors
Lower production/service costs
Respond to competitor’s price drop
Consumers have less purchasing power

Price Increases
Cost inflation
Over-demand
Match competitor’s increase
Market leadership
Time

Captive-Product Pricing

Pricing products that must be used with the main product
Base product is relatively “cheap” or free
Replacement product is relatively “expensive”
Examples:
Replacement cartridges for Gillette razors.
Toner/ink for HP printers.
Replacement car parts sold at car dealers

12 Important Steps To Starting A Successful Business

* Organize yourself
* Get business assistance and training
* Decide on the type of business
* Finance your business
* Gather information
* Come up with a business name and register it
* Build a website
* Write a business plan
* Start Advertising
* Set up a record keeping system
* Open a business checking account
* Obtain licenses and permits

These are some steps which are important for a one who is thinking to start his own business. Self satissaction and inimitability should be your preferance.

Marketing Myopia

Marketing Myopia is narrow minded approach to a marketing situation where only short-range goals are considered or where the marketing focuses on only one aspect out of many possible marketing attributes.
Marketing Myopia is the failure to define an organization's purpose in terms of its function from the consumers' point of view. For example, railway companies that define their markets in terms of trains, rather than transportation, fail to recognize the challenge of competition from cars, airlines, and buses. It is therefore necessary to define the needs of the consumer in more general terms rather than product-specific terms.

New-Product Pricing Strategies – Penetration Strategy

Set a low initial price so the brand to “penetrates” the market quickly.
Eventually raise prices when wide adoption and brand loyalty have been achieved.
Best used when:
Market is highly price sensitive.
High fixed cost structure.
Need to keep competition out or effects are only temporary

Famous Marketing Blunders

Today while i was surfing I found some interesting Marketing bluders on a link some of them were cross culturel marketing blunders and some were others, I'd like to share some of them with u.



1- Coors a shoe firm introduced a slogen " Turn into loose" which were translate into spanish was "suffer From Diarhhea."

2- Vacuum Manufacutrer introduced a shamful slogen "Nothing sucks like an Electrolux."

3- when colgate introduced a tooth paste in France called Cue, Its the name of notorious magazine.

4- Pepesi Slogan " Come alive with ur generation" translated into " Pepse brought back ur ancestors back from grave"

5- A cologne for men pictured a pastoral scene with a man and his dog. It failed in Islamic countries dogs are considered unclean.

6- An American business person refused an offer of a cup of coffee from a Saudi businessman. Such a rejection is considered very rude and the business negotiations became stalled.

Opeion:
As the above mention blunders shows that, A businessman or marketer should be aware about the culture and languge of other couontries. If he dont care then he has to face the music and also to bear un beleiveable loss. Because understanding of the culture of other countries play a vital role in the promotion of ur product in other countries. As above mention examples shows Pepsi make blunder whoes slogen produced meaning that t will bring ur passed persons from grave. As in a clothes Ad By showing dog with a man, in the result that product could not get fame in Mulim coutries. And by Refusing cup of coffee the american lost his business deal with soudi arabins.
SO every axpect of other culture should be evaulate, whether that is language, ethics, or religious etc.

There are lots of other interesting examples on the link given below which will gave u more clear pircture of marketign blunders by World's most leading Frims.

digitaldreams.com.ar/english/empresa/marketing_blunders.htm
www.kwintessential.co.uk/.../crosscultural-marketing.htm

"Major factors influencing consumer behaviour"

Consumers do not make their decisions in a vacuum. Their purchases are highly influenced by cultural social, personal, and psychological factors. For the most part, they are “non controllable” by the marketer but must be taken in to account. We want to examine the influence of each factor on a buyer’s behavior.
Cultural Factors
In a diversified country like India cultural factors exert the broadest and deepest influence on consumer behavior; we will look at the role played by the buyer’s culture, subculture, and social class.
Culture: Culture is the most fundamental determinant of a person’s wants and behavior. Whereas lower creatures are governed by instinct, human behavior is largely learned. The child growing up in a society leans a basic set of values, perceptions, preferences and behaviors through a process of socialization involving the family and other key institution
Subculture:
Each culture contain smaller group of subculture that provide more specific identification and socialization for its members. Four types of subculture can be distinguished .Nationality groups such as the Irish, polish, Italians, and Puerto Ricans are found with in large communities and exhibits distinct ethnic tastes and Jews represent subculture with specific culture preference and taboos.
Social Class:
Virtually all human societies exhibit social stratification. Stratification sometimes takes the form of a caste system where the member of different caste are reared for certain roles and cannot change their caste membership .More frequently, stratification takes the form of social classes
Social Factors:
A consumer’s behavior is also influenced by social factors, such as the consumer’s reference group, family, and social roles and statuses
Family Group:
Members of the buyer’s family can exercise a strong influence on the buyer’s behavior. we can distinguish between two families in the buyer’s life
How to succeed:
Companies like Nokia, Reebok, Coke, PepsiCo and major automobile giants like Toyota, Suzuki, Ford, Chevrolet, Mercedes etc.. has made a market for themselves in India. How did they establish their own individual market in a country like India which is prone to diverse cultures? Let’s take the example of Ford. Before establishing their base in India, they engaged in a lot of researches. Their researches were made on the Indian people’s social life, personal tastes and preferences, way of life, how they identify an effective product and what makes them get attracted towards a product. The social and economic conditions were analyzed.
A customer’s want has to be identified and his expectations must be matched with the other economic and social factors so that their product is receptive. This can be related to any product. Reebok today is enjoying a huge market in India even though they have hired a company which is phoenix to manufacture shoes and operate under Reebok. How did they achieve this? Adapting to social conditions play the most important role in establishing your brand in the market.
This also means that customers are open to new and different products from time to time. It’s just that they want the product to be flexible and adaptable to their needs and preferences. People are changing from time to time, so do their tastes and preferences. Identifying those is the first step towards achieving success and the rest depends on the performance of the product.

Promotion- push and pull strategies

http://tutor2u.net/business/marketing/promotion_pushpull.asp

This is an interesting topic which tells that marketing theogy distinguishes between two main kinds of promotional strategy - push and pull. Push is that use company sales and trade promotion to create customer demand and pull that spend large amount on advertizing to create customer demand for product. This article will explain this terms by example

It's a New Year! You need a new approach to providing healthcare

If you are leaving 2009 underpaid and unsatisfied it’s time to make some changes. Don’t allow your practice, clinic or hospital to enter 2010 without sound strategies for building a profitable medical practice. More than ever, marketing is going to play an essential role in your success for 2010. But, do you really understand the impact marketing has on the way you provide medical care?

Healthcare marketing is so much more that creating brochures, developing a website, or running a yellow pages advertisement. These elements of marketing are essential, but they are only address the promotional facet of marketing.

What about strategy? What about pricing? What about providing superior patient care? What about educating the public? What about impacting your community? What about taking measures to improve your bottom line and your personal income? All of these questions should be addressed in your medical practice strategy for 2010, and they are all rooted in marketing.

Properly defined strategies will be the blueprint for your success in 2010. With a through marketing plan you will be able to identify your position at this time, develop projections for the future, and create and plan of action to get there.

So, what can a healthcare marketing plan do for you?

It will:

  • Define your goals
  • Establish your services
  • Compile market research
  • Analyze competition
  • Identify your target customer base
  • Develop internal and external systems to increase income
  • Provide tactics to accomplish your goals
  • Establish a budget and monitor return on investment
  • Improve patient care and patient satisfaction

A well prepared plan will help you make informed decisions. It will help you choose the right partners and vendors. It will help you implement systems that can reduce your overhead and improve your productivity. With the appropriate guidance and expertise you can develop a marketing plan that will dramatically improve the way you practice medicine.

In an article published by The Harvard Business Review, Regis McKenna said “marketing is everything and everything is marketing.” This is because the critical dimensions of how a business operates are ultimately a marketing function. Well, in case you were unaware…you are “in business.” Don’t let the fact that you practice medicine distract you from the fundamental truth that you provide services for a fee i.e. you run a business

This is exactly way establishing a strategic healthcare marketing plan is essential for your success in 2010. So get started on the right foot as you enter this New Year. Begin to develop strategies that will bring you closer to your personal and professional goals. Write these strategies down, and then implement them.

With the many changes facing healthcare today, it is time that health care providers, physicians, and doctors take control of their professional futures. You can change the business of health care so that you are adequately compensated while providing phenomenal patient care, but it starts with you.

Trick of viral Marketing

1: Make people feel something

The most important trick of all is to create a very strong emotion. You need to have an opinion, to express an idea with commitment and dedication. You want people to:

  • be filled with love or hate.
  • be very happy or insanely angry
  • be an idiot or a genius
  • be deeply compassionate or an egoistic

You want people's blood to be excited

Viral marketing is 100% about emotions.

7 Ways to Build Your Business by Networking

SWOT analysis of Nokia and Samsung

http://www.authorstream.com/Presentation/devilshank-49257-swot-analysis-nokia-samsung-business-final-presentation-education-ppt-powerpoint/

This is a presenation of SWOT analysis of Nokia and Samsung. It includes Nokia's and Samsung's strength, weakness, opportunities, threats, strategy in India, their vision and mission. This presentation also contains three stages of SWOT analysis and advantage of SWOT analysis. Click the link above to check the SWOT analysis of Nokia and Samsung and give your feedback.

Wateen, product-life cycle & reactions to the enviornment

I's depressed to find out that my product, i.e., Wateen Wi-Max as whole, isn't doing good these days, because of its pricing and its competitor's prices and the value they give. What i mean to say is that more and more people are switching to DSL and other tribes of internet from Wateen, which had been for once an innovator of no category, back in 2007-8. Not only DSL the latest threat seems to be USB, so I am a bit relieved to hear this news that Wateen is going to launch USB Dongle soon. Apart form that, it has successfully re-launch itself with "unlimited packages and lower rentals for limited packages." Read this for more information.

What Mr. Wateen really is doing, is utilizing our book's Chapter 11 that talks about pricing strategies. Tough competition has hit hard the profit margins (based on pricing), and pushed its product life-cycle to the maximum. Therefore, what the re-launch indicates that they want to breathe air into its broadband's lungs.

We are actually watching theories being materialized around us, and that makes me adore this subject :)

Marketing Myopia

Marketing Myopia is narrow minded approach to a marketing situation where only short-range goals are considered or where the marketing focuses on only one aspect out of many possible marketing attributes.

Marketing Myopia is the failure to define an organization's purpose in terms of its function from the consumers' point of view. For example, railway companies that define their markets in terms of trains, rather than transportation, fail to recognize the challenge of competition from cars, airlines, and buses. It is therefore necessary to define the needs of the consumer in more general terms rather than product-specific terms.


Friday, January 8, 2010

TAILORING THE PRODUCT

Merchandise that is generally similar in style or design, but may vary in such elements as size, price, and quality is collectively known as a product line. Most marketers believe that product lines must be closely correlated with consumer needs and wants.

Firms tend to change product items and lines after a period of time to gain a competitive advantage, to respond to changes in the economic climate, or to increase sales by encouraging consumers to buy a new model. For example, if the economy weakens, a manufacturer might use cheaper parts to make a product more affordable. Sometimes, however, manufacturers will alter the style rather than the quality of the item. Hemlines on dresses, for example, might go up or down, or the appearance or functionality of an automobile might be altered. The practice of changing the appearance of goods or introducing inferior parts or poor workmanship in order to motivate consumers to replace products is known as planned obsolescence. Some people object that this practice leads to waste or can be unethical. Manufacturers reply that consumers are conditioned to expect such changes and welcome the variety they offer, or they deny that poor quality was intentional.

The popularity of all products eventually wanes. In fact, successful products go through what is called a product life cycle, which describes the course of a product’s sales from its introduction and growth through maturity and decline. Some fad products such as Beanie Babies go through all four stages in a very short period. For others, such as phonograph records, the stages extend over decades.

MARKETING RESEARCH

Marketing research helps businesses identify consumer needs and wants so a company can develop and promote products more successfully. Such research also provides the information upon which important advertising and marketing decisions are based.
There are two types of research: qualitative and quantitative. To gain a general impression of the market, consumers, or the product, companies generally start with qualitative research. This approach asks open-ended rather than yes or no questions in order to enable people to explain their thoughts, feelings, or beliefs in detail. One of the most common qualitative research techniques is the focus group in which a moderator leads a discussion among a small group of consumers who are typical of the target market. The discussion usually involves a particular product, service, or marketing situation. Focus groups can yield insights into consumer perceptions and attitudes, but the findings cannot be applied to the whole market, because the sample size is too small. Focus group results, then, are suggestive rather than definitive.
The insights generated by a focus group are often explored further through quantitative research, which provides reliable, hard statistics. This type of research uses closed-ended questions, enabling the researcher to determine the exact percentage of people who answered yes or no to a question or who selected answer a, b, c, or d on a questionnaire. One of the most common quantitative research techniques is the survey in which researchers sample the opinions of a large group of people. If the sample group is large enough and is representative of a particular group, such as executives who use cell phones, statisticians consider the findings statistically valid, which means that if all consumers in that particular category could be surveyed, the findings would still be the same. This means that quantitative findings are conclusive in a way that qualitative findings cannot be.

Superstore

A store much larger than a regular supermarket that offers a large assortment of routinely purchased food products, non- food items and services.
Panda Superstore is known as one of the most reputable superstores in the world. Currently, there are 11 retail stores of Panda which are located in four major cities of Saudia Arabia like Jeddah, Riyadh, Mecca and Dammam. It has set the standard for modern retail, customer service, and quality products.

At Panda you will find:

• Clean and wide aisles with shelves full of an array of all kinds of highest quality household items, electrical devices, grocery, frozen food, fresh dairy products, fresh meat and sea food, delicatessen products, bakery products, fruits and vegetables.

• Weekly changed special offers and discount on products.

• Courteous, uniformed staff offering shopping assistance and complimentary loading of purchased goods to your car.

Optional Product Pricing

The price of optional and accessory products along with a main product. For example airlines will charge for optional extras such as guaranteeing a window seat or reserving a row of seats next to each other.


There is another example. The Pizza’s restaurants also have optinal product pricing. They charge extra money for extra topping depending upon the material such as chicken, cheese, vegetables, sausages etc.



Reference:
http://www.marketingteacher.com/Lessons/lesson_pricing.htm

Market skimming pricing

Setting a high price for a new product to skim maximum revenues layer by layer from the segments willing to pay the high price, the company makes fewer but more profitable sales.
An example of price or market skimming can be seen in the computer industry, where technology sets up the environment for this price strategy. A computer manufacturer comes out with a new laptop every 8 to 10 months. The older, unsold models move down in price while the new model laptops with newer features and benefits are in the introductory phase and are able to command a higher price. The computer manufacturer is skimms price and gains the maximum profit through the maximum price.

Reference:
http://ezinearticles.com/?When-to-Use-Price-Skimming-Or-Market-Skimming-As-a-Pricing-Strategy&id=1341511

New product development

In business, New product development (NPD) is the term used to describe the complete process of bringing a new product or service and product modification to the market. Frito-Lay was created in 1961. Shortly after the creation of PepsiCo, Lay's became the first potato chip brand to be sold nationally. Of even greater importance was increased new product development activity. Frito-Lay is the leader in several snack categories: potato chips (Lay's, Ruffles), extruded snacks (Cheetos), corn chips (Fritos), tortilla chips (Tostitos, Doritos), multigrain chips (Sun Chips) and pretzels (Rold Gold). Some of them are not available in pakistan. Lays have many flavours such as Barbeque, Salt, Masala, Ketchup and Cheese.

Reference:
http://www.answers.com/topic/frito-lay

Marketing Audit

Marketing audit is the systematic collection, analysis and evaluation of information relating to the internal and external environments of the business. It is the examination of the marketing group's objectives, strategies, and performance.
There is an example. Pakistan State Oil (PSO) is the oil market leader in Pakistan. In 1974, the government took control of the two Pakistani oil companies, Pakistan National and Dawood Petroleum. Following the takeover, Dawood was renamed Premier Oil Company In 1974, the government founded a new agency, the Petroleum Storage Development Corporation (PSDC). That entity was subsequently renamed Pakistan State Oil (PSO) in 1976. Following the adoption of the new name, PSO then took over both Pakistan National and Premier, in what was then the largest ever merger to take place in Pakistan. PSO controls approximately 70 percent of Pakistan's total finished fuel products market and as much as 80 percent of the total furnace oil market, the main fuel oil market in the country. PSO also controls 60 percent of the country's diesel fuel market.
Shell remains PSO's largest competitor in the country, with a market share of more than 25 percent. Other major competitors include Total, Attock and Caltex refineries. Now, PSO is the country's leading oil marketing and distribution company.



Reference:
http://www.answers.com/topic/pakistan-state-oil-company-ltd.

"Stages of product life cycle"

The different stages in a product life cycle are:

Stage Characteristics
1. Market introduction stage costs are high
slow sales volumes to start
little or no competition - competitive manufacturers watch for acceptance/segment growth losses
demand has to be created
customers have to be prompted to try the product
makes no money at this stage

2. Growth stage costs reduced due to economies of scale
sales volume increases significantly
profitability begins to rise
public awareness increases
competition begins to increase with a few new players in establishing market
increased competition leads to price decreases

3. Mature stage costs are lowered as a result of production volumes increasing and experience curve effects
sales volume peaks and market saturation is reached
increase in competitors entering the market
prices tend to drop due to the proliferation of competing products
brand differentiation and feature diversification is emphasized to maintain or increase market share
Industrial profits go down

4. Saturation and decline stage costs become counter-optimal
sales volume decline or stabilize
prices, profitability diminish
profit becomes more a challenge of production/distribution efficiency than increased sales

"Difference b/w marketing & selling"

Marketing and sales are often confused because “sales person” is seen as much less prestigious than “marketing associate,” so everything gets lumped into marketing.
Marketing is everything you do to prepare for sales. Selling is closing sales that make you money. Thus, you could say . . .
– Marketing is money OUT the door.
– Selling is money IN the door.

SWOT Analysis- Apple

SWOT Analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities and Threats in a business. It involves identifying the internal and external factors that are favorable and unfavorable to achieve an objective.


Strengths:

Attributes of a company that are helpful to achieve the objective.
1: Apple is a very successful company. Sales of its iPod music player had increased its profits. So iPod gives the company access to a whole new series of segments that buy into other parts of the Apple brand. Sales of its notebooks products are also very strong and represent a huge contribution to income for Apple.
2: Brand is all-important. Apple is one of the most established and healthy IT brands in the World and has a very loyal set of enthusiastic customers that advocate the brand. Such a powerful loyalty means that Apple not only recruits new customers, it retains them.
3: Simple, easy-to-use and attractive designed, strong brand, reliable, high market share and position, competitive pricing.

Weaknessess:

Attributes of the person or company that are harmful to achieve the objective.
1: It is reported that the Apple iPod Nano may have a faulty screen. The company has commented that a batch of its product has screens that break under impact, and the company is replacing all faulty items. This is in addition to problems with early iPods that had faulty batteries, whereby the company offered customers free battery cases.
2: Early in 2005 Apple announced that it was to end its long-standing relationship with IBM as a chip supplier and that it was about to switch to Intel. Some industry specialists commented that the swap could confuse Apple's consumers.
3: Limited product range, Practically very less gaming capabilities.

Opportunities:

External conditions that are helpful to achieve the objective.
1: Success of Apple iPhone is a viable stepping stone for Apple to attract new users who previously had not owned an Apple computer.
2: Apple has the opportunity to develop its iTunes and music player technology into a mobile phone format.
3: Export to new markets, strong online presence, entering new markets, growth of the industry of operations.

Threats:

External conditions which could do damage to the objective.
1: Global economic situation is likely to reduce demand for higher-priced consumer items. Since Apple offers no lower-end alternatives, consumers will switch to other manufactures in the face of falling incomes.
2: There is also a high product substitution effect in the innovative and fast moving IT consumables market. So iPod and MP3 rule today. Tomorrow's technology might be completely different. Wireless technologies could replace the need for a physical music player.
3: Increase in taxation, competitor's actions, new competitors entering the market.



Reference:
http://www.marketingteacher.com/SWOT/apple_swot.htm and http://forums.macrumors.com/showthread.php?t=420550
Positioning of A Product

Arranging for a product to occupy a clear, distinctive and desireable place relative to competing products in the minds of target customers. Positioning is a concept which was popularized by Al Ries and Jack trout in their best seller book “ Positioning-A battle for your mind”.

Approaches of positioning:

1: Customer benefit Approach:
It involves putting the brand above competitors based on specific brand attributes and customer benefit. For example Procter and Gamble's Head & Shoulder shampoo functions both as anti-dandruff and hair conditioner.



2: Price quality Approach:
Sometimes brand attempts to offer more in service, feature quality or performance. For example Rado watches.



3: The use and Application Approach:
The product is also used with use and application Approach. For example largest mobile company Nokia positioned its few variants of N-series mobiles as music phones with enhanced memory and multimedia capabilities.



4: The Product user Approach:
The brand identifies and determines the target segment for which the product will be positioned. For example rice are for the same age groups.



Reference:
http://www.scribd.com/doc/6356725/MARKET-SEGMENTATION-TARGETING-POSITIONING-By-Subha-Rudra

Questions about Innovation

Please watch this short video. And tell us what do you learn from at as innovative marketers. The principle derived from this clip will be shared later, God willing. For now, the show must go on:

are mission statements related to taglines?

i think yes they are related, taking the example of Cadbury its quiet apparent and that is what makes the product successful!
Mission
Cadbury’s mission statement says simply: ‘Cadbury means quality’; this is our promise. Our reputation is built upon quality; our commitment to continuous improvement will ensure that our promise is delivered’ .
Vision
The Vision into action (VIA) plan embodies all aspects of our strategy. Our governing objective is to deliver superior shareowner returns by realizing our vision to be the world’s biggest and best confectionery company. At the heart of our plan is our financial scorecard, judiciously reinforced by our priorities, commitments and culture .
Implementation
Cadbury believes that the business still has significant untapped potential – both in terms of top line growth and returns. By exploiting the strength of leadership positions to continue to grow the market share and significantly increase our mar and returns, Cadbury aims to achieve the vision of becoming the biggest and best confectionery company in the world. Cadbury Celebrations has become a popular brand on occasions such as Diwali, Rakhi, Dussera puja. It is also a major success as a corporate gifting brand. The communication is based on the emotional route and the tag line says "rishte pakne do" which fits with the brand purpose of strengthening your relationships with something sweet.
what are ur views??

what is branding? how does nestle do it?

Branding is the collection of attributes that the consumer has come to expect from a product, which will strongly influence their buying patterns. Branding can be achieved using a company name - it can be applied generically or, as in the case of Kit Kat, on an individual basis. The brand name promises the consumer particular benefits, such as quality and value for money, with these expectations being built up over many years. A brand name is often considered by a company to be its most important intangible asset. In a market where repeat purchases are the key to profitability, a brand name becomes paramount to a product's success.
A catchy name and distinctive packaging are vital ingredients in any brand image, but the true essence of a brand identity lays in the consumer's mind i.e. the perceptions of the product. A company must be constantly aware of these perceptions and try to preserve and build on them through advertising and other promotions. Branding enables marketers to build extra value into products and to differentiate them from their competitors.
The history of Kit Kat emphasises the importance of successfully managed brand names to the company that owns them. Nestlé was prepared to pay a record price to acquire Rowntree in 1988 because of the prestigious brands in Rowntree's product portfolio. Kit Kat was an important part of the portfolio. This acquisition prompted the City to look into the possibilities of including a financial valuation of a brand as an asset on a company's balance sheet.

Online Relailing

Online Relaining has captured attention of all business persons and marketers. It is generating huge revenue day by day and now adays majority of business persons are jumping in to it it is because costs are very low and profits are very high.

www.mickinseyquarterly.com/retail_customer_goods/strategy_analysis/retailing

Best ad in the World !!!! watch it .....

To watch the best ad in the World please the link below:

http://www.youtube.com/watch?v=NHHTB2MR1Is#watch-main-area


This ad is for Honda Accord. This is the world's costliest Advertisement and the winner of this year's best Ad of the world. Everything is real with no graphics used costing some 6.2 million US Dollars and 606 takes and retakes.

Six steps for Effective Advertising

* Identifying the target audience
* Establishing the advertising budget
* Defining the objectives of the advertising messages
* Creating the advertising messages
* Selecting the appropriate media
* Evaluating advertising effectiveness


These are six steps for effective advertising. To know more about advertising click the link below:

Source: http://74.125.153.132/search?q=cache:wDA-2SXHXPYJ:www.waukesha.uwc.edu/bus/cfischer/101/CH13.ppt+importance+of+taglines+in+promoting+products&cd=3&hl=en&ct=clnk&gl=pk

the role of advertising in the Brand Image


In increasingly competitive market place greater emphasis is being placed on brand image development as the bases of customer discrimination. Advetising has a central role to play in developing brand image, wether at the corporate or retail level. it informs the consumers of the functional capabilities of the brand while simultaneously imbuing the brand with symbolic values and m,eaning relevant to the customers.




There is a thing that i want to share with you fellows,


The promoting of a product can be done by telling others about the product simply.there may no need of advertisement.one of the best example of this is our "Traffic Police Wardens".initially, no one was aware of the fact that the new wardens dont take bribery.but it came in knowledge of every one by just sharing in information.if a company has so much sharing like this, then obviously there will no need to advertise that product.

posted by Abd ur Rehman

WHY ADVERTISEMENT SHOULD BE USED

Advertisment now adays is an important need of com panies to promote their products. Advertisment hold important role to key success factor in marketing act. it is used to bring product information, introduce a new proct or build a brand image. for example most of the cigrate companies advertise to promote their product and to build a brand image to their target customers.
advertisment could be found on mass media like news paper and magazines. advertisment on tv channels is very common.

This is an amazing topic from advertising point of view. This topic explains what the advertising budger is and what are its main features.


ADVERTISING BUDGET:
The advertising budget can be written before or after a business owner has developed the advertising strategy. When to make a budget decision depends on the importance of advertising and the resources available to the business.
The following approaches are the most common methods of developing an effective budget. All the methods listed are progressive ones that look to perpetuate growth:
=Percentage of future or past sales
=Competitive approach
=Market share
=All available funds
=The task or objective approach
posted by Abd ur Rehman
This is an amazing topic from advertising point of view. This topic explains what the "advertising message" is and what are its main features.

ADVERTISING MESSAGE
An advertising message is guided by the "advertising or copy platform," which is a combination of the marketing objectives, copy, art, and production values. advertising message should target the following questions:
o What are the product's unique features?
o How do consumers evaluate the product?What is likely to persuade them to purchase the product?
o How do competitors rank in the eyes of the consumer? Are there any weaknesses in their positions? What are their strengths?
posted by Abd ur Rehman

This is an amazing topic from advertising point of view. This topic explains what the communication media is and what are its main features.

COMMUNICATION MEDIA

The communication media is the means by which the advertising message is transmitted to the consumer. In addition to marketing objectives and budgetary restraints, the characteristics of the target consumer need to be considered as an advertiser decides what media to use. The types of media categories from which advertisers can choose include the following:
o Print—Primarily newspapers (both weekly and daily) and magazines.
o Audio—FM and AM radio.
o Video—Promotional videos, infomercials.
o World Wide Web.
o Direct mail. Outdoor advertising—Billboards, advertisements on public transportation (cabs, buses).
posted by Abd ur rehman

Dear fellows, you can also get informative video related to the "RADIO ADVERTISEMENT"by searching the following link:

http://www.answers.com/topic/advertising

posted by Abd ur Rehman



Advertising on Radio
Radio provides an ideal advertising medium for small businesses, but running an effective campaign takes a bit of know-how. Just follow these four tips for navigating the radio waves.
1. Pinpoint Your Audience.
Every radio buy must begin with a clear understanding of the listeners you want to reach.
2. Know What You're Buying.
The three most important elements when evaluating proposals are reach, frequency and cost-per-point. Reach is the number of your prospects that'll hear your marketing message.
3. Look for Special Sponsorships.
Radio stations are promotional engines, and you can get on board. most stations offer the opportunity to sponsor news, weather reports or other types of regular programming. As a sponsor, you'll typically get additional mentions.
4. Entertain the Audience.
Once you've evaluated the proposals from the radio stations and negotiated and finalized your buys, you'll need effective spots.

posted by Abd ur Rehman