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“It’s not about money, honey!”
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Tag Archives: Strategic Marketing
A global brand is bleached with the culture of the respective country
[Dr Michael Dorsch is the associate professor of Department of Marketing, University of Business and Behavioural Science, Clemson, USA. Dr. Dorsch's work has appeared in the Journal of the Academy of Marketing Science, Journal of Personal Selling and Sales Management, Journal of Business Research, Journal of Financial Planning, Journal of Professional Service Marketing, and various national proceedings.]1. How has marketing evolved over the last decade and how is it different from the marketing that was practised in the 1980s and …
Automation is needed to manage complexity in marketing
[Bruce Brown is managing director of Unica Corporation's Asia Pacific operations.He oversees Unica's sales, marketing, and business development throughout the region.] 1. Can you shed some light on critical changes that are taking place in the marketing arena? As the business environment becomes complex, firms are operating under tighter internal and external constraints than ever before. For example, on the one hand we have multiplicity of communication channels leading to a need for higher spend in these areas. On the …
Playing a long Innings
History of our planet proves that adapting to change is the only way to survive. Those who do not or cannot adapt, become extinct. This is true of human beings, animals and even brands. Brands that do not change disappear from the marketplace… and the consumer’s mind. While many brands have survived for a long time, in the recent years the pace of change has increased manifold and consequently the time available to respond to the changes has shrunk considerably. …
When in Rome…
When developing nations like India began to open up their economies to foreign direct investments, many economists argued that rich multinationals will swamp these markets and liberalisation will sound the death knell of local brands. More than a decade later, nothing of the sort has happened. In fact several large companies have failed to make a major dent in the Indian market, leave alone acquire leadership positions. Many who entered with a mindset of “might is right” had to alter …
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Tagged country-marketing, Feature, localization, Marketing, Strategic Marketing
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How much below the line?
One can argue that most ad spending today is utter waste and does little to meet its supposed objective, especially the really expensive monthly-quarterly campaigns. Everyday we come across average looking and ineffective (more important that ‘just being creative’) ads in the newspaper and on television. Yet at times, the product itself is so good it outperforms the ineffectiveness of the ad campaign and this is mistaken as a triumph for those attempts in traditional marketing and advertising. Competing firms, …
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Tagged Advertising, Business, Non-Fiction, Strategic Marketing
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Elementary, my dear Watson
JOHN WANAMAKER, pioneer of department stores in the US, once confessed that he knew that only half his advertising works; the problem was, he didn’t know which half. But today’s marketers cannot afford to makes such a confession. With marketing accountability becoming the motto of the top management, companies are increasingly looking for return on every marketing rupee spent. Developing effective marketing programmes is now the most important objective of marketing practitioners. But what exactly does the term marketing effectiveness …
Low penetration means big opportunity
Manoj Khatri: What are the principal drivers that influence the underlying profitability of the brown goods industry? Gulu Mirchandani: In the current market scenario, where the value erosion stands at 15 per cent for 2003-04, it is increasing becoming difficult to hold on to the bottom line. Nevertheless, the following are the key drivers of profitability in this industry: Volume Growths: The low penetration levels of these products is a big opportunity area and the industry is strongly taking this …
Star Struck!
Stars, who are known to shape destinies, cast an enormous influence. No, we’re not talking about astrology here. We’re referring to the powerful effect of celebrities on the destinies of brands. One approving nod from a famous face can translate into millions in brand sales. Perhaps that’s why the world over, companies have been using stars to endorse everything, from food to food chains, from soft and hard drinks to health drinks, from clothes and accessories to cars (and the …
Generic positioning platforms will not work any more
MK: Can you chart the evolution of liquor industry during the last 10 years?Alok Gupta: The alcoholic beverage segment represents a vastly different scenario today in comparison to a decade ago. Since last 10 years, the Indian liquor industry has evolved at every stage. To start with, the industry has changed from being "seller’s" market to a "buyer’s" market. Consumer groups, which earlier were targeted as one large demographic island, have got fragmented into distinct psychographics’ groups. Brand and media …
In the beginning was the word…
Word of Mouth communications is as old as humankind. In the Garden of Eden, after Eve tasted the forbidden fruit, she strongly recommended Adam to take a bite. Eve’s insinuations stirred up in Adam heart an irresistible temptation which led him to try the fruit himself. And thus was set in motion the first ever word-of-mouth phenomenon. Though marketing communications has certainly evolved since the days of Adam and Eve, the power of the word remains unchallenged. Every business in …