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. […]
I propose these tried-and-true tactics with interpersonal strategies that can deepen relationships with customers, establish greater levels of trust and build stronger customer loyalty. Here are 10 tips for you to consider if you are sincerely interested in having a business that is notable for customer loyalty and referrals.
Customer loyalty matters because selling more to existing customers is easier, and cheaper, than finding and selling to new ones. Loyal customers tend to buy more, more regularly. And they will frequently recommend your business to others. […]
Buying motives often overlap. Suppose you just purchased a new jacket. What was your dominant motive in making that purchase? Maybe you bought the jacket for comfort; you expect it to keep you warm. You might have bought it simply because it has a style or label that you’re proud to wear or show your friends. It is extremely important that you uncover these underlying buying motives because the prospect in all likelihood will not come out and tell you. They are sometimes only vaguely aware of their motives themselves.
Tailor your approach to the right motives and your sales will definitely increase. […]
Marketing to women is not a rocket science but it requires a lot of labour and spending so marketers should understand the significance of marketing to women as, women are the primary consumers and key decision makers.
Marketing to women will deliver more profits to your bottom line than putting the same budget against an all-male target. […]
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