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Showing posts from March, 2024

4Cs Model

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The 4Cs Model offers a simple, straightforward way to think about marketing decisions from the perspective of the customer. The 4Cs are: customer solution, customer cost, convenience, and communication . Customer Solution: In order to be successful, a business must be able to identify the needs of its target market and develop a solution that meets those needs. Customer Cost:  In order to be successful, a business must be able to price its products and services in a way that is affordable for its target market. Convenience:  In order to be successful, a business must be able to make its products and services available to its target market. Communication:  In order to be successful, a business must be able to effectively communicate its products and services to its target market.

Communication Design

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Designing the marketing communications to achieve the desired response requires solving three problems: what to say (message strategy), how to say it (creative strategy), and who should say it (message source). Message Strategy. In determining message strategy, marketers search for appeals, themes, or ideas that will tie in to the brand positioning and help enforce or establish the brand's points-of-parity and points-of-difference. Creative Strategy. Communication effectiveness depends on how a message is being expressed, as well as its contents. And so, creative strategies are the ways markers translate their message into a specific communication. Message source. Messages delivered by attractive or popular source can achieve higher attention and recall which is why advertisers often use celebrities as spokesperson. Celebrities are likely to be effectively when they are credible or personify a key product attribute. 

Marketing Communications

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It isn't enough for businesses to develop a product, price it attractively, and make it accessible; they must also know how to effectively communicate it. Marketing communications are means by which firms attempts to inform, persuade, and remind consumers - directly and indirectly - about the products or services they sell.  Marketing communication strategy must include: Communication Audit. This profiles all interactions customers in the target market may have with the company and its products or services. For example, one who wants to buy a new phone may talk to others, see a social media ad, TV ad, look on the internet, and look in the phone store. Allocation of Resources. Markers need to assess which experiences and impressions will have the most influence on each stage of the buying process. Armed with these insights, they can judge marketing communications according to their ability to affect experiences and impressions, build customer loyalty and brand equity, and drive sale...

Marketing in an Economic Downturn

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In economic cycles, there will always be downturns, and knowing how to effectively deal with them is a crucial skill for every marketer. Here are the general guidelines to improve the odds of success  during an economic downturn: Explore the upside of increasing investment. Instead of trying to cut back costs, invest in marketing. Firms that have done so are often best able to exploit a market place advantages such as an appealing new product, a weakened rival, or development of a neglected market. Get Close to Customers. In tough times, customers may change what they want and can afford, where and how they shop, even what they want to see and hear from a firm. A downturn is an opportunity for marketers to learn even more about what consumers are thinking, feeling, and doing, especially the loyal base that yields so much of the brand's profitability. Put Forth the Most Compelling Value Propositions.  One mistake brands make during tough times is focusing heavily on price reduc...

Packaging

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Packaging involves all the activities of designing and producing the container of a product. Packaging is important for various reasons including being the first impression of the consumer to the product, and we know first impressions matter. So this says it acts more as a "five second commercial" for the product. A good package draws the consumer in and encourages product choice. Packaging must achieve a number of objectives: Identify the brand Convey descriptive and persuasive information Facilitate product transportation and protection Assist at home storage Aid product consumption