Market Segmentation – Why is it Important?

Steps from market segmentation to marketing planning

Market segmentation is an important basis of many successful marketing strategies. Carefully chosen segments allow tailoring the marketing mix to more individual customer needs. Thus, they help to invest marketing spending more effectively. This article explains what market segmentation is, it discusses why it is important and what advantages it yields. Finally, the article provides […]

Porters Diamond – Determining Factors of National Advantage

The elements of the Porters diamond model

Increasingly, corporate strategies have to be seen in a global context. Even if an organization does not plan to import or to export directly, management has to look at an international business environment, in which actions of competitors, buyers, sellers, new entrants of providers of substitutes may influence the domestic market. The Porters Diamond model […]

Understanding and Managing Customer Perception

Customer perception is more important today than ever before

Different customers may perceive one and the same product or service in different ways. A customer’s perception of an offering may even deviate from what the producer or service provider or marketer had intended. This may cause serious problems in today’s attention economy. Everybody is exposed to more and more diverse information than ever before. […]

Every blue ocean will eventually turn red; Create an unfair advantage instead

By Dr. Dan Herman Once your Blue Ocean Strategy works, sooner or later someone will copy or even improve your already successful model, and your ocean will become red again. The critical question is: what can be done which is immune from imitations? Apparently the principle is simple. Introducing the Unfair Advantage.

Test Yourself: Are You An MBA Clone?

By Dr. Dan Herman Standardization in MBA programs results in a similarity in the professional approach and managerial thinking of their graduates. Thus, many executives today turn into “MBA clones.” In our hyper-competitive markets, MBA clones pose an imminent and tangible threat to the competitiveness of the companies they work for. What about you? Do […]

Create Enticing Brands, not “Lovemarks”

By Dr. Dan Herman Allow me to shorten for you an old but not outdated joke. A new divorcee, first-hand from an advertising professional, asks her new partner, a minute before getting into bed together, to be gentle with her because she is still a virgin. “But you were married…” the man wonders. “Yes” the […]