In order to market any enterprise successfully, you sometimes need to think outside the box. Using the same stale old tactics over and over soon stops delivering any tangible gain. This becomes a problem even more with the rise of the concept of “Best Practices”. Pushed by eager consultants, businesses around the world started to […]
How to Compete with The Big Guys as a Small Business
Taking on a large corporation in an industry can seem like an insurmountable task for a small business. The fact is that many small companies cannot compete because they cannot lower prices enough to beat the large competitor. While some of these companies cannot compete with corporations, there are plenty that are able to take […]
The Strategy IS the Brand. Or: How Can You Create Your Very Own Monopoly?
About 95% of what executives in competing companies do is pretty much the same all around. This is good management. If you are CEOing a wireless communication services provider, you strive to have an advanced technological infrastructure with a promising future, cool end-user phones, other devices and accessories, a great service system, attractive added-value services, […]
The Differentiation Challenge
This is a guest article from Jean-Claude Saade: On any given morning, if we open a newspaper it will be full of advertisements, messages and offers. At 10:00 am, let us try to remember the ads we have seen a couple of hours ago. We might remember something, only sometimes, but most of the time […]
The Eternal Principles for Creating Luxury Brands
Attracting wealthy customers is potentially very profitable. In order to be successful, it requires different approaches than the regular marketing strategy. Dr. Dan Herman, our guest author, states that this … … involves a deep understanding of their psychological need, of their lifestyle, of the role of brands in their world and in their relationships […]
Market Segmentation – Why is it Important?
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 […]
Understanding and Managing Customer Perception
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. […]