To succeed, customer retention must be a top-down, company-wide initiative. Truly committing to customer retention is hard work, because it affects virtually every aspect of your organization. But the ultimate payback in sustainable growth and profitability makes the effort worthwhile. The path to customer retention involves six key steps. […]
Marketing challenges are actually quite common among businesses of all sizes. In today’s competitive business world, many small and mid-sized companies lose sight of the marketing practices that made them successful in the first place. And even the large, established companies tend to let their good marketing practices slide sometimes. These tips are always in our minds, it’s not rocket science. Make sure you print this out and stick it over your computer. […]
A recent article in the The Sydney Morning Herald certainly highlights as how clever you have to be to gain an advantage when you use ambush as a strategy. Nike’s global ambush marketing of the World Cup appears to be paying off, latest research indicating it is beating its rival, adidas, in connecting with soccer fans and consumers. […]
The business implications are fairly obvious. If businesses wish to promote impulse buying, they should create an environment where consumers can be relieved of their negative perceptions of impulse. Businesses should stress the relative rationality of impulse buying in their advertising efforts. Similarly, they should stress the non-economic rewards of impulse buying. […]
The changing demographics and the aging of the population are affecting the age composition of consumer markets. This, in turn, creates opportunities and challenges for organizations serving consumer markets.
So how do we convert these into profits? Read on to see the typical 4 Ps of marketing for the seniors market. […]
Today’s consumers are the most informed buyers in history. They can find out everything they want to know about a brand and the company behind it. Consumers don’t demand engagement from you, but they will be indifferent to the businesses and brands that are indifferent to them. And they will seek out relationships—knowledge-based, product-based and community-based—with the companies that they choose to do business with. […]
Tips for maximizing on evolutionary trends to stimulate loyalty.
Most important lesson for managers is that loyalty schemes have a life cycle. Although they may be an effective sales strategy when introduced into a market, over time they lose their effectiveness as saturation occurs and customers become habituated to the loyalty schemes. Attitudinal loyalty seems to last longer than behavioural loyalty, but as behavioural loyalty is the only form that translates to dollars; this is not good news for business. However, the solution is to scrap the tired old loyalty scheme and come up with some innovative untried initiative that will capture the imagination of customers and stimulate both attitudinal and behavioural loyalty.
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Accommodating these trends will require a paradigm change on the parts of some companies. But whether a brand does something about it or not, the future is where it’s going to spend the rest of its life. How long that life is up to the brand, determined by how it responds to today’s reality.
This year is poised to be an exciting year for marketers; trends that have been taking shape over the course of the past decade are creating new opportunities for business owners. […]
Generation Y loyalty should be a critical issues for any business. The Generation Y group is of particular interest to marketeers, even though it is likely to be unprofitable or marginally profitable at the onset, because of the potential to develop them early on into loyal customers that can eventually translate into substantial profits down the road.
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Sex in advertising is becoming bolder, diverse, and more far reaching. It has been shown that the use of sex appeal, sexy illustrations, and sex in general, in advertising can have widespread and penetrating effects on several elements of an advertising and buyer behaviour model. The effects may be positive in an additive or multiplicative way; on the other hand if its use is “improper” it may have a negative effect. Sex in advertising can be utilised advantageously in several ways: as an attention-getting device, in promoting sex appeal associated with products and services, in a complimentary manner, and as a subliminal technique.
Much like comedy or dress styles, advertisements age rapidly.A successful marketing campaign may indeed earn its company an initial competitive advantage, but that advantage fades quickly unless it is translated into brand loyalty. […]
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