One of the key external factors and influences in the study consumer behavior and marketing is culture and subcultures. As indicated by the word, a subculture is a subset of the overall culture.
Let’s firstly check out the definitions of … Read more...
Opinion leaders are those people who are able to influence the purchase decisions of consumers. These consumers will view the opinion leader as having a strong degree of knowledge in regards to the product category or a … Read more...
Up-selling and cross-selling are important aspects of building customer relationships and increasing customer lifetime value.
Primarily they are both sales functions, but can occur with direct and digital marketing techniques as well.
Up-selling is changing the consumer’s … Read more...
A fundamental truth is that a business only exists when it has customers, and for most businesses, the majority of their profits come from ongoing transactions with customers.
Therefore, the goal of the marketer is to … Read more...
Sometimes students study marketing in a business course because it is perceived to be somewhat easier than more challenging and technical areas, such as economics, finance, and analytics.
However, from the point of view of … Read more...
To make it easy to design and produce the GE matrix, an Excel template is available for free download on this website.
This … Read more...
The GE matrix is now officially known as the GE-McKinsey nine-box matrix.
According to the McKinsey website, the framework “offers a systematic approach for the multibusiness corporation to prioritize its investments among its business units.… Read more...
In today’s analytical world, days marketers are expected to analyze significant amount of customer database and market research survey data – and an effective skill is being able to run cross … Read more...
A matrix demonstrates the relationships between two attributes in a visual graph format, similar to a scatter-plot chart. However, it is often time-consuming for someone new to Excel to construct a matrix, as the chart needs … Read more...
This free customer journey map template is designed to quickly and easily build relatively detailed maps for multiple brand personas. Customer journey maps are an effective way of identifying how potential customers make … Read more...
Kellogg’s is a major player in the breakfast food market sector and is one of the most sophisticated operators within the fast-moving consumer goods industry.
However, they are facing interesting challenges of a … Read more...
The first major component of any formal plan is the situation analysis, where the overall business environment is reviewed and analyzed. This would include both the internal and … Read more...
Coca-Cola is one of the strongest fast moving consumer goods (FMCG’s) brands in the world. Its flagship product was launched in the 1800s and the company has expanded successfully internationally and has … Read more...
The cruising sector in recent years as consumers have started to appreciate the advantages of cruising, as well as the increase in quality of facilities and infrastructure onboard the ships.
Here are some possible ideas … Read more...
FinTechs have become very common in recent years, but also have the challenge of having a fast-growing competitive set and the need to create business relationships as the majority of their customers are businesses.… Read more...
Larger banks have natural economic and customer base advantages in the marketplace, as compared to their smaller competitors. However, in strength there is also a weakness and large banks also have challenging … Read more...
Smaller financial institutions often face challenges in terms of their perception of financial security and lack of reach and global coverage. Larger financial institutions are much stronger brands, more sophisticated marketing analysis and tools, … Read more...
Airline face many challenges in today’s marketing environment. In particular, their costs are variable due to oil and staff conditions in different countries. International travel is impacted by economic conditions, seasonality, and safety concerns … Read more...
