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Showing posts from April, 2024

Digital Marketing

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Digital Marketing is the process of marketing a product or service using digital technologies. The main aim of digital marketing is to reach a larger audience in a shorter amount of time and at a lower cost than traditional marketing methods. Some of the most popular digital marketing channels include: Search Engine Optimization(SEO): This is the process of optimizing a website for search engines, with the goal of improving the visibility of the site and driving more traffic to it. Advertising (Pay-Per-Click, PPC): PPC is a form of online advertising in which advertisers pay a fee every time their ad is clicked.  Social Media Marketing (SMM): SMM involves using social media platforms (such as Facebook, LinkedIn and Instagram) to promote a website or product. Email Marketing: Email marketing involves sending marketing messages (such as offers and newsletters) to a list of subscribers via email. Content Marketing: Content marketing is the process of creating and distributing high-qua...

Product Differentiation

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In a highly competitive landscape, products need to be differentiated from one another in other for companies to gain or maintain their competitive edge. Some products by nature allow for high variation, whereas others allow for little variation. But despite all, product differentiation falls within the following categories: Form: Many products can be differentiated in form- the size, shape, or physical structure of the product. Features: Most products can be offered with varying features that supplement their basic function. A business can identify and select appropriate new features by surveying recent buyers and then calculating customer value versus company cost  for each potential feature. Customization: Marketers can differentiate their products by customizing them. Durability: This measures the product's expected operating life under natural or stressful conditions. Reliability: A measure of the probability that a product will not malfunction or fail within a specified time ...