How can company attract and retain right customers
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CRM is the process of managing detailed customer information and interactions to maximize customer loyalty. It involves identifying and differentiating customers based on their needs and value, customizing engagement based on individual customer profiles, measuring retention rates, and targeting efforts on high-value customers to reduce attrition and increase longevity and growth of customer relationships. The goal is to enhance profitability by making low-profit customers more valuable and focusing efforts on high-profit customers.
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Why business markets should be segmented
Companies can no longer do mass marketing to all customers because markets have become more fragmented. Segmentation allows companies to target specific groups that have similar needs and wants. By segmenting the market, companies can better utilize resources, reduce costs from ineffective advertising, more easily obtain customer feedback, better satisfy customer needs, and increase sales. Segmentation involves identifying distinct groups of customers to target based on their shared characteristics.
How should business markets be segmented
There are five ways to segment markets and identify targets: 1) Demographic segmentation based on industry and size. 2) Operating variables including technology, resources, and capabilities. 3) Purchasing approaches based on relationships, policies, and structure. 4) Situational factors like urgency and order size. 5) Personal characteristics including loyalty, risk attitude, and similarities between buyers and sellers. The document discusses market segmentation and targeting techniques.
T2 w8 current
This document contains a series of brief news articles:
1) A man was arrested for leaving acid on MRT seats, burning passengers. Investigations are ongoing into how acid works and examples of common acids.
2) Chikungunya is a mosquito-borne disease affecting over 100 people this year, with symptoms like dengue but typically not fatal.
3) The history is described of Singapore General Hospital, called one of the country's eeriest places, from its founding in 1926 to present day.
Suryoday Balgram yojana
The Shri Sadguru Datta Dharmik evam Parmarthik Trust, Indore is a non-profit, religious organization founded by Param Pujya Shri Bhaiyyuji Maharaj to provide spiritual and social services. The Trust runs a Suryoday Balgram scheme to help children of farmers complete their education by giving them fruit tree saplings to plant, care for, and sell the produce from to fund their education costs. The goal is to make the children self-sufficient through teaching the importance of trees.
How should business markets be segmented
There are 5 ways to segment business markets: 1) Demographic variables like industry type, company size, and location. 2) Operating variables such as technology, customer capabilities, and user/non-user status. 3) Purchasing approaches based on power structure, criteria, policies, and relationship nature. 4) Situational factors like urgency, specific application, and order size. 5) Personal characteristics including buyer-seller similarity, loyalty, and risk attitude.
How can business markets be segmented
Business markets can be segmented in several ways including by geographic region, industry type, size of the business, and needs or challenges faced by the business. Segmenting allows companies to better understand their different customer groups and tailor their marketing strategies and offerings to appeal to specific segments. The key is to find common traits among businesses that indicate they would have similar needs and responses to marketing efforts.
What are customer value,satisfaction and loyalty
This document discusses customer value and satisfaction. It explains that customer value is the benefits of a product or service minus the costs. Benefits can include product features, services, company image while costs include monetary costs, time costs, and psychological costs. Customer satisfaction results from how a product performs compared to customer expectations. Understanding customer values, attributes, and satisfaction over time can help companies better meet customer needs and expectations.
What is the lifetime value of customers
A profitable customer is one whose revenue over time exceeds the costs of attracting, selling to, and serving them. This can be determined through activity-based costing, which extrapolates the real costs associated with each customer. Describing a customer as profitable refers to the net present value of the expected future profits from their lifetime purchases.
Recommended
Why business markets should be segmented
Companies can no longer do mass marketing to all customers because markets have become more fragmented. Segmentation allows companies to target specific groups that have similar needs and wants. By segmenting the market, companies can better utilize resources, reduce costs from ineffective advertising, more easily obtain customer feedback, better satisfy customer needs, and increase sales. Segmentation involves identifying distinct groups of customers to target based on their shared characteristics.
How should business markets be segmented
There are five ways to segment markets and identify targets: 1) Demographic segmentation based on industry and size. 2) Operating variables including technology, resources, and capabilities. 3) Purchasing approaches based on relationships, policies, and structure. 4) Situational factors like urgency and order size. 5) Personal characteristics including loyalty, risk attitude, and similarities between buyers and sellers. The document discusses market segmentation and targeting techniques.
T2 w8 current
This document contains a series of brief news articles:
1) A man was arrested for leaving acid on MRT seats, burning passengers. Investigations are ongoing into how acid works and examples of common acids.
2) Chikungunya is a mosquito-borne disease affecting over 100 people this year, with symptoms like dengue but typically not fatal.
3) The history is described of Singapore General Hospital, called one of the country's eeriest places, from its founding in 1926 to present day.
Suryoday Balgram yojana
The Shri Sadguru Datta Dharmik evam Parmarthik Trust, Indore is a non-profit, religious organization founded by Param Pujya Shri Bhaiyyuji Maharaj to provide spiritual and social services. The Trust runs a Suryoday Balgram scheme to help children of farmers complete their education by giving them fruit tree saplings to plant, care for, and sell the produce from to fund their education costs. The goal is to make the children self-sufficient through teaching the importance of trees.
How should business markets be segmented
There are 5 ways to segment business markets: 1) Demographic variables like industry type, company size, and location. 2) Operating variables such as technology, customer capabilities, and user/non-user status. 3) Purchasing approaches based on power structure, criteria, policies, and relationship nature. 4) Situational factors like urgency, specific application, and order size. 5) Personal characteristics including buyer-seller similarity, loyalty, and risk attitude.
How can business markets be segmented
Business markets can be segmented in several ways including by geographic region, industry type, size of the business, and needs or challenges faced by the business. Segmenting allows companies to better understand their different customer groups and tailor their marketing strategies and offerings to appeal to specific segments. The key is to find common traits among businesses that indicate they would have similar needs and responses to marketing efforts.
What are customer value,satisfaction and loyalty
This document discusses customer value and satisfaction. It explains that customer value is the benefits of a product or service minus the costs. Benefits can include product features, services, company image while costs include monetary costs, time costs, and psychological costs. Customer satisfaction results from how a product performs compared to customer expectations. Understanding customer values, attributes, and satisfaction over time can help companies better meet customer needs and expectations.
What is the lifetime value of customers
A profitable customer is one whose revenue over time exceeds the costs of attracting, selling to, and serving them. This can be determined through activity-based costing, which extrapolates the real costs associated with each customer. Describing a customer as profitable refers to the net present value of the expected future profits from their lifetime purchases.
Final presentation
This document discusses various strategies for polarizing brands. It provides examples of how some companies have boosted sales by increasing the number of people who hate their brand through controversial ads or attributes. The document suggests companies consider placating critics by addressing complaints, while also poking haters to sway neutral consumers. It advises amplifying a polarizing attribute to differentiate the brand. Creating polarization can drive wedges in the market. The key is for marketers to understand and exploit brand dispersion fueled by social media.
Ideas in Indian Context
Assignment 4.
Created by Srujan Dasari, IIT Kharagpur, during an internship by Prof. Sameer Mathur, IIM Lucknow. www.IIMInternship.com
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This presentation contains four modules covered during the internship by Prof. Sameer Mathur (www.IIMInternship.com)
journey of learning
- The document summarizes the journey of Marico Limited, an Indian consumer goods company founded in 1987.
- Marico started as a small edible oils business in 1971 and grew to become a market leader through innovation, market research, brand extensions, and international acquisitions.
- Key aspects of Marico's success include extensive research and development, careful segmentation and targeting of consumer groups, line extensions to satisfy diverse needs, and building brand equity through impactful advertising campaigns.
Competing Against Free
This document analyzes how companies should respond to competitors offering free products or services. It discusses assessing the level of threat and choosing a response. For a major Indian telecom company facing competition from free internet calling services, some potential solutions are proposed: 1) Charge advertising companies and provide discounted call rates to customers, 2) Offer premium paid services with better features, 3) Bundle free services with paid offerings and provide promotional deals, 4) Offer a lower-cost video calling service optimized for slower Indian internet speeds, 5) Develop a trendy youth-oriented service. Responding effectively through strategies like these can allow companies to deal successfully with threats from free competitors.
Final ppt parampreet singh
This presentation summarizes the key topics covered in an internship, including how to present effectively, common presentation mistakes to avoid, and how online reviews and social media have shifted marketing strategies. It discusses concepts like the influence mix and O continuum that show people are less reliant on brand and more influenced by others' opinions online. Companies must track what information sources customers use and adjust their marketing accordingly to succeed in this new environment defined by user reviews and social media.
Disney consumer products, marketing nutrition to children
This document discusses Disney Consumer Products' (DCP) efforts to address childhood obesity by introducing healthier food options. It provides background on DCP's business segments and growth over time. In 2006, amidst concerns that Disney was contributing to obesity, DCP launched "Better For You" nutritional guidelines, reformulating products and limiting treats. It established partnerships, conducted research, and developed three product distribution models to provide healthier choices appealing to both children and parents. The challenges of influencing children's food preferences and balancing nutrition with taste and fun are also examined.
Saxonville sausage company parampreet singh
1. Saxonville Sausage Company produces various pork sausage products and wants to expand their Italian sausage brand called Vivio nationally.
2. They form a task force called Project Score to research expanding Vivio, including focus groups and customer analysis to identify target markets and develop positioning concepts.
3. Project Score recommends positioning Vivio around "Clever Cooking" to attract more buyers, and estimates expanding nationwide could increase Vivio sales over 10 times to $464 million annually.
Branding yoga
This document summarizes the key debates around branding yoga. It discusses how Bikram Choudhary strongly branded his Bikram yoga style through extensive trademarking and patenting, while Tara Stiles took a less regimented approach without intentions to develop a strong brand. The Hindu American Foundation campaigned to acknowledge yoga's Hindu roots, sparking debates around whether yoga belongs solely to Hinduism or can be practiced independently. While history provides some evidence that yoga predated Hinduism, it is also part of other religions. There are reasonable arguments on both sides around whether yoga should or should not be branded.
Branding yoga
This document summarizes a Harvard Business School case study on branding yoga. It outlines different approaches taken by Bikram Choudhary and Tara Stiles in marketing yoga. Bikram strongly branded his hot yoga style, trademarking and patenting his method. Tara Stiles took a more secular approach without explicit branding. This led to debate around whether yoga should be branded or remain unbranded given its spiritual roots in Hinduism. The case discusses the origins of yoga in ancient India and examines the question of whether yoga can or should be branded as a business.
Grey worldwide - strategic repositioning through crm
This document discusses Grey Worldwide, a communications company, and its strategic repositioning through customer relationship management (CRM). It outlines Grey Worldwide's history, principles, current market situation, challenges, and CRM approach called Grey Relationship Management (GRM). The GRM framework uses four principles to build brands and develop/manage customers through creating positive brand experiences and building brands via customer knowledge. The document asks how Grey Worldwide can adapt to new technologies and which CRM tools it should use to reposition its brand and boost customer loyalty.
Saxonville sausage company
The document discusses research conducted for the Saxonville Italian Sausage brand to develop a national product line. It analyzes positioning the brand with emotional and functional benefits. Qualitative research was performed on demographics, psychographics, and consumer sessions. Concepts were developed and tested. Research showed family connection positioning resonated best but may face competition. The brand name "Saxonville Italy's Best" is recommended along with goals for R&D, pricing strategy, and marketing tactics like label changes, celebrity endorsements, and product displays.
Srujan dasari a2_q4
A company should initiate a price change when it has excess plant capacity and needs more business that can't be generated through other means. When initiating price cuts, companies should avoid traps like offering low quality, having a fragile market, or starting a price war. It is generally better for consumers if companies make small, regular price increases rather than sharp increases. Common causes for price increases include delayed quotation pricing, escalator clauses, reducing discounts, and unbundling pricing structures.
Srujan dasari a2_q3
This document discusses various pricing strategies and programs that a company can use to adapt prices based on changing circumstances and opportunities. It covers geographical pricing to account for location-based differences, forms of international trade involving bartering or offsets, the risks of overusing discounts, and types of promotional pricing like loss leaders, rebates, and financing. It also explains differential pricing approaches like discriminating prices for customer segments, product versions, channels, locations, seasons, or early vs. late purchases. The goal is to help companies set prices that meet varying needs.
Srujan dasari a2_q2
This document discusses various strategies and considerations for setting prices, including:
1. Companies first determine their pricing objective such as survival, maximum profit, market share, or quality leadership. They then estimate demand curves and price sensitivity.
2. Common pricing methods include markup pricing, target-return pricing, and perceived-value pricing. Companies also consider competitors' costs and prices.
3. In selecting the final price, companies evaluate the impact of other marketing activities, their own pricing policies, and how the price might affect other parties. Gaining customer loyalty through value pricing is also discussed.
Srujan dasari a2_q1
Consumers process and evaluate prices based on how they perceive them. Traditionally, consumers were seen as price-takers who accepted prices at face value, but they actually compare observed prices to internal reference prices and external benchmarks. Marketers try to frame prices to signal best value through techniques like EMIs. Consumers also use price as an indicator of quality, and some brands adopt premium pricing to justify exclusivity. Price endings like $299 instead of $300 make items seem less expensive to customers.
How should a company respond to a competitor's price change
This document discusses developing pricing strategies and programs in response to competitor price changes. It recommends that in homogeneous product markets, companies should enhance their augmented product or meet the price reduction. In non-homogeneous markets, companies should consider why the competitor changed price and if it is temporary or permanent, and how other firms and the company will be affected. The document also suggests differentiating products/services, introducing low-cost ventures, or reinventing as a low-cost player when facing low-cost competitors. Companies are advised to react decisively to competitor price changes within hours or days.
When should a company initiate a price change
This document discusses developing pricing strategies and programs. It covers when companies should initiate price changes, reasons for price cuts or increases, and potential risks and alternatives. Price cuts may be used to reduce excess capacity or dominate markets, but can trigger price wars or lose long-term customer loyalty. Price increases are often due to cost inflation or high demand. Companies can avoid raising prices by shrinking product amounts, substituting cheaper ingredients, reducing features or services, using less expensive packaging, or creating new economy brands.
How should a company adapt prices to meet varying circumstances and opportuni...
This document discusses various pricing strategies and programs that a company can use. It describes geographical pricing where a company prices its products differently in various locations. It also discusses various types of discounts and allowances like cash discounts, quantity discounts, and trade discounts. The document outlines promotional pricing strategies such as special event pricing, cash rebates, and low interest financing. It also explains psychological discounting by setting an artificially high price and then offering a discount, and differentiated pricing based on customers, products, locations, seasons, and customer segments.
How should a company set prices initially for products or services
The document outlines the 6 steps in developing pricing strategies and programs:
1. Selecting the pricing objective such as maximizing profits, market share, or product leadership.
2. Determining demand through analyzing price sensitivity and estimating demand curves.
3. Estimating costs such as fixed, variable, total, and average costs as well as learning curves.
4. Analyzing competitors' costs, prices, and potential price reactions.
5. Selecting a pricing method like markup pricing, target return pricing, perceived value pricing, or value pricing.
6. Selecting the final price after considering additional factors like marketing activities and company policies.
From Hope to Despair The Top 10 Reasons Businesses Ditch SEO Tactics.pptx
From Hope to Despair: The Top 10 Reasons Businesses Ditch SEO Tactics
Are you tired of seeing your business's online visibility plummet from hope to despair? When it comes to SEO tactics, many businesses find themselves grappling with challenges that lead them to abandon their strategies altogether. In a digital landscape that's constantly evolving, staying on top of SEO best practices is crucial to maintaining a competitive edge.
In this blog, we delve deep into the top 10 reasons why businesses ditch SEO tactics, uncovering the pain points that may resonate with you:
1. Algorithm Changes: The ever-changing algorithms can leave businesses feeling like they're chasing a moving target. Search engines like Google frequently update their algorithms to improve user experience and provide more relevant search results. However, these updates can significantly impact your website's visibility and ranking if you're not prepared.
2. Lack of Results: Investing time and resources without seeing tangible results can be disheartening. The absence of immediate results often leads businesses to lose faith in their SEO strategies. It's important to remember that SEO is a long-term game that requires patience and consistent effort.
3. Technical Challenges: From site speed issues to complex metadata implementation, technical hurdles can be daunting. Overcoming these challenges is crucial for SEO success, as technical issues can hinder your website's performance and user experience.
4. Keyword Competition: Fierce competition for top keywords can make it hard to rank effectively. Businesses often struggle to find the right balance between targeting high-traffic keywords and finding less competitive, niche keywords that can still drive significant traffic.
5. Lack of Understanding of SEO Basics: Many businesses dive into the complex world of SEO without fully grasping the fundamental principles. This lack of understanding can lead to several issues:
Keyword Awareness: Failing to recognize the importance of keyword research and targeting the right keywords in content.
On-Page Optimization: Ignorance regarding crucial on-page elements such as meta tags, headers, and content structure.
Technical SEO Best Practices: Overlooking essential aspects like site speed, mobile responsiveness, and crawlability.
Backlinks: Not understanding the value of high-quality backlinks from reputable sources.
Analytics: Failing to track and analyze data prevents businesses from optimizing their SEO efforts effectively.
6. Unrealistic Expectations and Timeframe: Entrepreneurs often fall prey to the allure of quick fixes and overnight success. Unrealistic expectations can overshadow the reality of the time and effort needed to see tangible results in the highly competitive digital landscape. SEO is a long-term strategy, and setting realistic goals is crucial for success.
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SEO in the AI Era - Trust, Quality and Content Discovery - Andy Crestodina
SEO in the AI Era - Trust, Quality and Content Discovery - Andy CrestodinaDigiMarCon - Digital Marketing, Media and Advertising Conferences & Exhibitions
We’ve entered a new era in digital. Search and AI are colliding, in more ways than one. And they all have major implications for marketers.
• SEOs now use AI to optimize content.
• Google now uses AI to generate answers.
• Users are skipping search completely. They can now use AI to get answers. So AI has changed everything …or maybe not. Our audience hasn’t changed. Their information needs haven’t changed. Their perception of quality hasn’t changed. In reality, the most important things haven’t changed at all. In this session, you’ll learn the impact of AI. And you’ll learn ways that AI can make us better at the classic challenges: getting discovered, connecting through content and staying top of mind with the people who matter most. We’ll use timely tools to rebuild timeless foundations. We’ll do better basics, but with the most advanced techniques. Andy will share a set of frameworks, prompts and techniques for better digital basics, using the latest tools of today. And in the end, Andy will consider - in a brief glimpse - what might be the biggest change of all, and how to expand your footprint in the new digital landscape.
Key Takeaways:
How to use AI to optimize your content
How to find topics that algorithms love
How to get AI to mention your content and your brandMore Related Content
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Final presentation
This document discusses various strategies for polarizing brands. It provides examples of how some companies have boosted sales by increasing the number of people who hate their brand through controversial ads or attributes. The document suggests companies consider placating critics by addressing complaints, while also poking haters to sway neutral consumers. It advises amplifying a polarizing attribute to differentiate the brand. Creating polarization can drive wedges in the market. The key is for marketers to understand and exploit brand dispersion fueled by social media.
Ideas in Indian Context
Assignment 4.
Created by Srujan Dasari, IIT Kharagpur, during an internship by Prof. Sameer Mathur, IIM Lucknow. www.IIMInternship.com
Everything is Marketing: Insights from the internship
This presentation contains four modules covered during the internship by Prof. Sameer Mathur (www.IIMInternship.com)
journey of learning
- The document summarizes the journey of Marico Limited, an Indian consumer goods company founded in 1987.
- Marico started as a small edible oils business in 1971 and grew to become a market leader through innovation, market research, brand extensions, and international acquisitions.
- Key aspects of Marico's success include extensive research and development, careful segmentation and targeting of consumer groups, line extensions to satisfy diverse needs, and building brand equity through impactful advertising campaigns.
Competing Against Free
This document analyzes how companies should respond to competitors offering free products or services. It discusses assessing the level of threat and choosing a response. For a major Indian telecom company facing competition from free internet calling services, some potential solutions are proposed: 1) Charge advertising companies and provide discounted call rates to customers, 2) Offer premium paid services with better features, 3) Bundle free services with paid offerings and provide promotional deals, 4) Offer a lower-cost video calling service optimized for slower Indian internet speeds, 5) Develop a trendy youth-oriented service. Responding effectively through strategies like these can allow companies to deal successfully with threats from free competitors.
Final ppt parampreet singh
This presentation summarizes the key topics covered in an internship, including how to present effectively, common presentation mistakes to avoid, and how online reviews and social media have shifted marketing strategies. It discusses concepts like the influence mix and O continuum that show people are less reliant on brand and more influenced by others' opinions online. Companies must track what information sources customers use and adjust their marketing accordingly to succeed in this new environment defined by user reviews and social media.
Disney consumer products, marketing nutrition to children
This document discusses Disney Consumer Products' (DCP) efforts to address childhood obesity by introducing healthier food options. It provides background on DCP's business segments and growth over time. In 2006, amidst concerns that Disney was contributing to obesity, DCP launched "Better For You" nutritional guidelines, reformulating products and limiting treats. It established partnerships, conducted research, and developed three product distribution models to provide healthier choices appealing to both children and parents. The challenges of influencing children's food preferences and balancing nutrition with taste and fun are also examined.
Saxonville sausage company parampreet singh
1. Saxonville Sausage Company produces various pork sausage products and wants to expand their Italian sausage brand called Vivio nationally.
2. They form a task force called Project Score to research expanding Vivio, including focus groups and customer analysis to identify target markets and develop positioning concepts.
3. Project Score recommends positioning Vivio around "Clever Cooking" to attract more buyers, and estimates expanding nationwide could increase Vivio sales over 10 times to $464 million annually.
Branding yoga
This document summarizes the key debates around branding yoga. It discusses how Bikram Choudhary strongly branded his Bikram yoga style through extensive trademarking and patenting, while Tara Stiles took a less regimented approach without intentions to develop a strong brand. The Hindu American Foundation campaigned to acknowledge yoga's Hindu roots, sparking debates around whether yoga belongs solely to Hinduism or can be practiced independently. While history provides some evidence that yoga predated Hinduism, it is also part of other religions. There are reasonable arguments on both sides around whether yoga should or should not be branded.
Branding yoga
This document summarizes a Harvard Business School case study on branding yoga. It outlines different approaches taken by Bikram Choudhary and Tara Stiles in marketing yoga. Bikram strongly branded his hot yoga style, trademarking and patenting his method. Tara Stiles took a more secular approach without explicit branding. This led to debate around whether yoga should be branded or remain unbranded given its spiritual roots in Hinduism. The case discusses the origins of yoga in ancient India and examines the question of whether yoga can or should be branded as a business.
Grey worldwide - strategic repositioning through crm
This document discusses Grey Worldwide, a communications company, and its strategic repositioning through customer relationship management (CRM). It outlines Grey Worldwide's history, principles, current market situation, challenges, and CRM approach called Grey Relationship Management (GRM). The GRM framework uses four principles to build brands and develop/manage customers through creating positive brand experiences and building brands via customer knowledge. The document asks how Grey Worldwide can adapt to new technologies and which CRM tools it should use to reposition its brand and boost customer loyalty.
Saxonville sausage company
The document discusses research conducted for the Saxonville Italian Sausage brand to develop a national product line. It analyzes positioning the brand with emotional and functional benefits. Qualitative research was performed on demographics, psychographics, and consumer sessions. Concepts were developed and tested. Research showed family connection positioning resonated best but may face competition. The brand name "Saxonville Italy's Best" is recommended along with goals for R&D, pricing strategy, and marketing tactics like label changes, celebrity endorsements, and product displays.
Srujan dasari a2_q4
A company should initiate a price change when it has excess plant capacity and needs more business that can't be generated through other means. When initiating price cuts, companies should avoid traps like offering low quality, having a fragile market, or starting a price war. It is generally better for consumers if companies make small, regular price increases rather than sharp increases. Common causes for price increases include delayed quotation pricing, escalator clauses, reducing discounts, and unbundling pricing structures.
Srujan dasari a2_q3
This document discusses various pricing strategies and programs that a company can use to adapt prices based on changing circumstances and opportunities. It covers geographical pricing to account for location-based differences, forms of international trade involving bartering or offsets, the risks of overusing discounts, and types of promotional pricing like loss leaders, rebates, and financing. It also explains differential pricing approaches like discriminating prices for customer segments, product versions, channels, locations, seasons, or early vs. late purchases. The goal is to help companies set prices that meet varying needs.
Srujan dasari a2_q2
This document discusses various strategies and considerations for setting prices, including:
1. Companies first determine their pricing objective such as survival, maximum profit, market share, or quality leadership. They then estimate demand curves and price sensitivity.
2. Common pricing methods include markup pricing, target-return pricing, and perceived-value pricing. Companies also consider competitors' costs and prices.
3. In selecting the final price, companies evaluate the impact of other marketing activities, their own pricing policies, and how the price might affect other parties. Gaining customer loyalty through value pricing is also discussed.
Srujan dasari a2_q1
Consumers process and evaluate prices based on how they perceive them. Traditionally, consumers were seen as price-takers who accepted prices at face value, but they actually compare observed prices to internal reference prices and external benchmarks. Marketers try to frame prices to signal best value through techniques like EMIs. Consumers also use price as an indicator of quality, and some brands adopt premium pricing to justify exclusivity. Price endings like $299 instead of $300 make items seem less expensive to customers.
How should a company respond to a competitor's price change
This document discusses developing pricing strategies and programs in response to competitor price changes. It recommends that in homogeneous product markets, companies should enhance their augmented product or meet the price reduction. In non-homogeneous markets, companies should consider why the competitor changed price and if it is temporary or permanent, and how other firms and the company will be affected. The document also suggests differentiating products/services, introducing low-cost ventures, or reinventing as a low-cost player when facing low-cost competitors. Companies are advised to react decisively to competitor price changes within hours or days.
When should a company initiate a price change
This document discusses developing pricing strategies and programs. It covers when companies should initiate price changes, reasons for price cuts or increases, and potential risks and alternatives. Price cuts may be used to reduce excess capacity or dominate markets, but can trigger price wars or lose long-term customer loyalty. Price increases are often due to cost inflation or high demand. Companies can avoid raising prices by shrinking product amounts, substituting cheaper ingredients, reducing features or services, using less expensive packaging, or creating new economy brands.
How should a company adapt prices to meet varying circumstances and opportuni...
This document discusses various pricing strategies and programs that a company can use. It describes geographical pricing where a company prices its products differently in various locations. It also discusses various types of discounts and allowances like cash discounts, quantity discounts, and trade discounts. The document outlines promotional pricing strategies such as special event pricing, cash rebates, and low interest financing. It also explains psychological discounting by setting an artificially high price and then offering a discount, and differentiated pricing based on customers, products, locations, seasons, and customer segments.
How should a company set prices initially for products or services
The document outlines the 6 steps in developing pricing strategies and programs:
1. Selecting the pricing objective such as maximizing profits, market share, or product leadership.
2. Determining demand through analyzing price sensitivity and estimating demand curves.
3. Estimating costs such as fixed, variable, total, and average costs as well as learning curves.
4. Analyzing competitors' costs, prices, and potential price reactions.
5. Selecting a pricing method like markup pricing, target return pricing, perceived value pricing, or value pricing.
6. Selecting the final price after considering additional factors like marketing activities and company policies.
More from Sameer Mathur (20)
Everything is Marketing: Insights from the internship
Everything is Marketing: Insights from the internship
Disney consumer products, marketing nutrition to children
Disney consumer products, marketing nutrition to children
Grey worldwide - strategic repositioning through crm
Grey worldwide - strategic repositioning through crm
How should a company respond to a competitor's price change
How should a company respond to a competitor's price change
How should a company adapt prices to meet varying circumstances and opportuni...
How should a company adapt prices to meet varying circumstances and opportuni...
How should a company set prices initially for products or services
How should a company set prices initially for products or services
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From Hope to Despair The Top 10 Reasons Businesses Ditch SEO Tactics.pptx
From Hope to Despair: The Top 10 Reasons Businesses Ditch SEO Tactics
Are you tired of seeing your business's online visibility plummet from hope to despair? When it comes to SEO tactics, many businesses find themselves grappling with challenges that lead them to abandon their strategies altogether. In a digital landscape that's constantly evolving, staying on top of SEO best practices is crucial to maintaining a competitive edge.
In this blog, we delve deep into the top 10 reasons why businesses ditch SEO tactics, uncovering the pain points that may resonate with you:
1. Algorithm Changes: The ever-changing algorithms can leave businesses feeling like they're chasing a moving target. Search engines like Google frequently update their algorithms to improve user experience and provide more relevant search results. However, these updates can significantly impact your website's visibility and ranking if you're not prepared.
2. Lack of Results: Investing time and resources without seeing tangible results can be disheartening. The absence of immediate results often leads businesses to lose faith in their SEO strategies. It's important to remember that SEO is a long-term game that requires patience and consistent effort.
3. Technical Challenges: From site speed issues to complex metadata implementation, technical hurdles can be daunting. Overcoming these challenges is crucial for SEO success, as technical issues can hinder your website's performance and user experience.
4. Keyword Competition: Fierce competition for top keywords can make it hard to rank effectively. Businesses often struggle to find the right balance between targeting high-traffic keywords and finding less competitive, niche keywords that can still drive significant traffic.
5. Lack of Understanding of SEO Basics: Many businesses dive into the complex world of SEO without fully grasping the fundamental principles. This lack of understanding can lead to several issues:
Keyword Awareness: Failing to recognize the importance of keyword research and targeting the right keywords in content.
On-Page Optimization: Ignorance regarding crucial on-page elements such as meta tags, headers, and content structure.
Technical SEO Best Practices: Overlooking essential aspects like site speed, mobile responsiveness, and crawlability.
Backlinks: Not understanding the value of high-quality backlinks from reputable sources.
Analytics: Failing to track and analyze data prevents businesses from optimizing their SEO efforts effectively.
6. Unrealistic Expectations and Timeframe: Entrepreneurs often fall prey to the allure of quick fixes and overnight success. Unrealistic expectations can overshadow the reality of the time and effort needed to see tangible results in the highly competitive digital landscape. SEO is a long-term strategy, and setting realistic goals is crucial for success.
#SEO #DigitalMarketing #BusinessGrowth #OnlineVisibility #SEOChallenges #BostonSEO
SEO in the AI Era - Trust, Quality and Content Discovery - Andy Crestodina
SEO in the AI Era - Trust, Quality and Content Discovery - Andy CrestodinaDigiMarCon - Digital Marketing, Media and Advertising Conferences & Exhibitions
We’ve entered a new era in digital. Search and AI are colliding, in more ways than one. And they all have major implications for marketers.
• SEOs now use AI to optimize content.
• Google now uses AI to generate answers.
• Users are skipping search completely. They can now use AI to get answers. So AI has changed everything …or maybe not. Our audience hasn’t changed. Their information needs haven’t changed. Their perception of quality hasn’t changed. In reality, the most important things haven’t changed at all. In this session, you’ll learn the impact of AI. And you’ll learn ways that AI can make us better at the classic challenges: getting discovered, connecting through content and staying top of mind with the people who matter most. We’ll use timely tools to rebuild timeless foundations. We’ll do better basics, but with the most advanced techniques. Andy will share a set of frameworks, prompts and techniques for better digital basics, using the latest tools of today. And in the end, Andy will consider - in a brief glimpse - what might be the biggest change of all, and how to expand your footprint in the new digital landscape.
Key Takeaways:
How to use AI to optimize your content
How to find topics that algorithms love
How to get AI to mention your content and your brandNo Cookies, No Problem - Steve Krull, Be Found Online
No Cookies, No Problem - Steve Krull, Be Found OnlineDigiMarCon - Digital Marketing, Media and Advertising Conferences & Exhibitions
In the face of the news of Google beginning to remove cookies from Chrome (30m users at the time of writing), there’s no longer time for marketers to throw their hands up and say “I didn’t know” or “They won’t go through with it”. Reality check - it has already begun - the time to take action is now. The good news is that there are solutions available and ready for adoption… but for many the race to catch up to the modern internet risks being a messy, confusing scramble to get back to "normal"How to Make Your Trade Show Booth Stand Out
Unlock the secrets to creating a standout trade show booth with our comprehensive guide from Blue Atlas Marketing! This presentation is packed with essential tips and innovative strategies to ensure your booth attracts attention, engages visitors, and drives business success. Whether you're a seasoned exhibitor or a first-timer, these expert insights will help you maximize your impact and make a memorable impression in a crowded exhibition hall. Learn how to:
Design an eye-catching and inviting booth
Incorporate interactive elements that engage visitors
Use effective branding and visuals to reinforce your message
Plan your booth layout for maximum traffic flow
Implement technology to enhance the visitor experience
Create memorable experiences that leave a lasting impression
Transform your trade show presence with these proven tactics and ensure your booth stands out from the competition. Download the PDF now and start planning your next successful exhibit!
Lily Ray - Optimize the Forest, Not the Trees: Move Beyond SEO Checklist - Mo...
Lily Ray, Vice President of SEO Strategy & Research at Amsive, explores optimizing strategies for sustainable growth and explores the impact of AI on the SEO landscape.
Assignment 2 Task 1: Digital Marketing Course
How Consumers Use Technology And Its Impact On Their Lives
From Subreddits To Search: Maximizing Your Brand's Impact On Reddit
The search landscape is undergoing a seismic shift, and Reddit is at the epicenter. Google's Helpful Content Update and its $60 million deal with Reddit, coupled with OpenAI's partnership, have catapulted Reddit's real-time content to unprecedented heights.
Check out this insightful webinar exploring the newfound importance of Reddit in the digital marketing landscape. Learn how these changes make Reddit an essential platform for getting your brand and content in front of evolving search audiences.
You’ll hear:
- The evolution of Reddit as a major influencer on SERPS over the years.
- The impact of recent changes and partnerships on Reddit’s place in search.
- A comprehensive look at Reddit, how it works, and how to approach it.
- Unique engagement opportunities presented by Reddit.
With Brent Csutoras, a Reddit expert with over 18 years of experience on the platform, we’ll delve into the intricacies of Reddit's communities, known as Subreddits, and how to leverage their power without compromising authenticity or violating community guidelines in the age of AI-driven search experiences.
Don't miss this opportunity to stay ahead of the curve and leverage Reddit for your brand's success.
Luxury Hanloom Saree Brand ,Capstone Project_Kiran Bansal.pdf
Capstone Project: Luxury Handloom Saree Brand
As part of my college project, I applied my learning in brand strategy to create a comprehensive project for a luxury handloom saree brand. Key aspects of this project included:
- *Competitor Analysis:* Conducted in-depth competitor analysis to identify market position and differentiation opportunities.
- *Target Audience:* Defined and segmented the target audience to tailor brand messages effectively.
- *Brand Strategy:* Developed a detailed brand strategy to enhance market presence and appeal.
- *Brand Perception:* Analyzed and shaped the brand perception to align with luxury and heritage values.
- *Brand Ladder:* Created a brand ladder to outline the brand's core values, benefits, and attributes.
- *Brand Architecture:* Established a cohesive brand architecture to ensure consistency across all brand touchpoints.
This project helped me gain practical experience in brand strategy, from research and analysis to strategic planning and implementation.
Mindfulness Techniques Cultivating Calm in a Chaotic World.pptx
In today’s fast-paced world, stress and anxiety have become common companions for many. With constant connectivity and an unending stream of information, finding moments of peace can seem like an insurmountable challenge. However, mindfulness techniques offer a beacon of calm amidst the chaos, helping individuals to center themselves and find balance. These practices, rooted in ancient traditions and supported by modern science, are accessible to everyone and can profoundly impact mental and emotional well-being.
AI Best Practices for Marketing HUG June 2024
During this presentation, the Nextiny marketing team reviews best practices when adopting generative AI into content creation. Join our HUG community to register for more events https://events.hubspot.com/sarasota/
janani Digital Marketer|Digital Marketing consultant|Marketing Promotion|Coim...
Myself Janani Digital marketing consultant located in coimbatore I offer all kinds of digital marketing services for your business requirements such as SEO SMO SMM SMO CAMPAIGNS content writing web design for all your business needs with affordable cost
Digital Marketing Services | Techvolt Software :
Digital Marketing is a latest method of Marketing techniques widely used across the Globe. Digital Marketing is an online marketing technique and methods used for all products and services through Search Engine and Social media advertisements. Previously the marketing techniques were used without using the internet via direct and indirect marketing strategies such as advertising through Telemarketing,Newspapers,Televisions,Posters etc.
List of Services offered in Digital Marketing |Techvolt Software :
Techvolt Software offers best Digital Marketing services for promoting your products and services through online platform on the below methods of Digital marketing
1. Search Engine Optimization (SEO)
2. Search Engine Marketing (SEM)
3. Social Media Optimization (SMO)
4. Social Media Marketing (SMM)
5. Campaigns
Importance | Need of Digital Marketing (Online Promotions) :
1. Quick Promotions through Online
2. Generation of More leads and Business Enquiries via Search Engine and Social Media Platform
3. Latest Technology development vs Business promotions
4. Creation of Social Branding
5. Promotion with less investment
Benefits Digital Marketing Services at Techvolt software :
1. Services offered with Affordable cost
2. Free Content writing
3. Free Dynamic Website design*
4. Best combo offers on website Hosting,design along with digital marketing services
5. Assured Lead Generation through Search Engine and Social Media
6. Online Maintenance Support
Free Website + Digital Marketing Services
Techvolt Software offers Free website design for all customer and clients who is availing the digital marketing services for a minimum period of 6 months.
With Regards
Janani Digital Marketer
Coimbatore,Tamilnadu.
Mastering Your Online Visibility - Fernando Angulo
Mastering Your Online Visibility - Fernando AnguloDigiMarCon - Digital Marketing, Media and Advertising Conferences & Exhibitions
Unlock the secrets to enhancing your digital presence with our masterclass on mastering online visibility. Learn actionable strategies to boost your brand, optimize your social media, and leverage SEO. Transform your online footprint into a powerful tool for growth and engagement.
Key Takeaways:
1. Effective techniques to increase your brand's visibility across various online platforms.
2. Strategies for optimizing social media profiles and content to maximize reach and engagement.
3. Insights into leveraging SEO best practices to improve search engine rankings and drive organic traffic.INTRODUCTION TO SEARCH ENGINE OPTIMIZATION (SEO).pptx
This presentation is recommended for those who want to know more about SEO. It explains the main theoretical and practical aspects that influence the positioning of websites in search engines.
Global Growth Starts With Translation - How To Unlock Global Markets - Tim Kirby
Global Growth Starts With Translation - How To Unlock Global Markets - Tim KirbyDigiMarCon - Digital Marketing, Media and Advertising Conferences & Exhibitions
Did you know that while 50% of content on the internet is in English, English only makes up 26% of the world’s spoken language? And yet 87% of customers won’t buy from an English only website.
Uncover the immense potential of communicating with customers in their own language and learn how translation holds the key to unlocking global growth. Join Smartling CEO, Bryan Murphy, as he reveals how translation software can streamline the translation process and seamlessly integrate into your martech stack for optimal efficiency. And that's not all – he’ll also share some inspiring success stories and practical tips that will turbocharge your multilingual marketing efforts!
Key takeaways:
1. The growth potential of reaching customers in their native language
2. Tips to streamline translation with software and integrations to your tech stack
3. Success stories from companies that have increased lead generation, doubled revenue, and more with translationHow to Kickstart Content Marketing With A Small Team - Dennis Shiao
How to Kickstart Content Marketing With A Small Team - Dennis ShiaoDigiMarCon - Digital Marketing, Media and Advertising Conferences & Exhibitions
Can you kickstart content marketing when you have a small team or even a team of one? Why yes, you can! Dennis Shiao, founder of marketing agency Attention Retention will detail how to draw insights from subject matter experts (SMEs) and turn them into articles, bylines, blog posts, social media posts and more. He’ll also share tips on content licensing and how to establish a webinar program. Attend this session to learn how to make an impact with content marketing even when you have a small team and limited resources.
Key Takeaways:
- You don't need a large team to start a content marketing program
- A webinar program yields a "one-to-many" approach to content creation
- Use partnerships and licensing to create new content assetsMarketing in the Age of AI - Shifting CX from Monologue to Dialogue - Susan W...
Marketing in the Age of AI - Shifting CX from Monologue to Dialogue - Susan W...DigiMarCon - Digital Marketing, Media and Advertising Conferences & Exhibitions
The advent of AI offers marketers unprecedented opportunities to craft personalized and engaging customer experiences, evolving customer engagements from one-sided conversations to interactive dialogues. By leveraging AI, companies can now engage in meaningful dialogues with customers, gaining deep insights into their preferences and delivering customized solutions.
Susan will present case studies illustrating AI's application in enhancing customer interactions across diverse sectors. She'll cover a range of AI tools, including chatbots, voice assistants, predictive analytics, and conversational marketing, demonstrating how these technologies can be woven into marketing strategies to foster personalized customer connections.
Participants will learn about the advantages and hurdles of integrating AI in marketing initiatives, along with actionable advice on starting this transformation. They will understand how AI can automate mundane tasks, refine customer data analysis, and offer personalized experiences on a large scale.
Attendees will come away with an understanding of AI's potential to redefine marketing, equipped with the knowledge and tactics to leverage AI in staying competitive. The talk aims to motivate professionals to adopt AI in enhancing their CX, driving greater customer engagement, loyalty, and business success.Embark on style journeys Indian clothing store denver guide.pptx
Finding the perfect "Indian Clothing Store Denver" is essential for those seeking vibrant, authentic, and culturally rich attire in the heart of Colorado. Denver, a city known for its diverse culture and eclectic fashion scene, offers a variety of options for those in search of traditional and contemporary Indian clothing. Whether you're preparing for a wedding, festival, or cultural event, or simply wish to incorporate the elegance and beauty of Indian fashion into your wardrobe, discovering the right store can make all the difference.
Digital Marketing Trends - Experts Insights on How to Gain a Competitive Edge...
Digital Marketing Trends - Experts Insights on How to Gain a Competitive Edge...DigiMarCon - Digital Marketing, Media and Advertising Conferences & Exhibitions
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.Efficient Website Management for Digital Marketing Pros
Learn how to optimize website projects, leverage SEO tactics effectively, and implement product-led marketing approaches for enhanced digital presence and ROI.
This session is your key to unlocking the secrets of successful digital marketing campaigns and maximizing your business's online potential.
Actionable tactics you can apply after this session:
- Streamlined Website Management: Discover techniques to streamline website development, manage day-to-day operations efficiently, and ensure smooth project execution.
- Effective SEO Practices: Gain valuable insights into optimizing your website for search engines, improving visibility, and driving organic traffic to your digital assets.
- Leverage Product-Led Marketing: Explore strategies for incorporating product-led marketing principles into your digital marketing efforts, enhancing user engagement and driving conversions.
Don't miss out on this opportunity to elevate your digital marketing game and achieve tangible results!
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How can company attract and retain right customers
- 1. Photo by Niklas Emmerich Photography - Creative Commons Attribution-NonCommercial-ShareAlike License https://www.flickr.com/photos/49422583@N02 Created with Haiku Deck
- 2. Photo by Chris Yarzab - Creative Commons Attribution License https://www.flickr.com/photos/10957255@N08 Created with Haiku Deck CRM is the process of carefully managing detailed information about individual customers and all possible “touch points” to maximise loyalty
- 3. Photo by ippnw Deutschland - Creative Commons Attribution-NonCommercial License https://www.flickr.com/photos/32258134@N02 Created with Haiku Deck Identify prospects & customers Differentiate customers by (1) their needs (2) their value to your company Know their individual needs personally and build stronger relation Customize process, services and messages to each customer
- 5. Photo by Novowyr - Creative Commons Attribution-NonCommercial-ShareAlike License https://www.flickr.com/photos/62602097@N00 Created with Haiku Deck Define and measure retention rate Distinguish customer attrition & manage better Compare lost customer’s lifetime value to deflection costs
- 6. Photo by Koen Cobbaert - Creative Commons Attribution-NonCommercial-ShareAlike License https://www.flickr.com/photos/32466800@N03 Created with Haiku Deck Target Market Aware Open to trial Trier (non rejec- tor) Recent User Regular User Most often Used Loyal
- 7. Photo by vancouverfilmschool - Creative Commons Attribution License https://www.flickr.com/photos/38174668@N05 Created with Haiku Deck Reducing rate of customer deflection Increasing longevity of customer relation Enhancing growth potential of each customer Making low-profit customers more profitable Provide valueable effort on high- profit customer
- 8. Photo by Xevi V - Creative Commons Attribution-NonCommercial-ShareAlike License https://www.flickr.com/photos/29624180@N04 Created with Haiku Deck
- 9. Photo by Jonathan Rolande - Creative Commons Attribution License https://www.flickr.com/photos/110671496@N06 Created with Haiku Deck Interacting with customers Developing Loyalty Programs Creating institutional ties
- 10. Photo by SpaceShoe [Learning to live with the crisis] - Creative Commons Attribution License https://www.flickr.com/photos/50696182@N02 Created with Haiku Deck Re-Activate the In-Active
- 12. • Created by Karan Bhatt, NIT Surat, during an internship by Prof. Sameer Mathur, IIM Lucknow. • www.IIMInternship.com