Kinds of Advertising


Different kinds of advertising are used by various organizations to reach different market targets. Some major categories include:

  • Retail Advertising: advertising to consumers by various retail stores such as supermarkets and shoe stores.
  • Trade Advertising: advertising to wholesalers and retailers by manufacturers to encourage them to carry their products.
  • Industrial Advertising: advertising from manufacturers to other manufacturers. A firm selling motors to automobile companies would use industrial advertising.
  • Institutional Advertising: advertising designed to create an attractive image for an organization rather than for a product.
  • Product Advertising: advertising for a good or service to create interest among consumer, commercial, and industrial buyers.
  • Advocacy Advertising: advertising that supports a particular view of an issue
  • Comparison Advertising: advertising that compares competitive products.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

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Effective Segmentation


Segmentation does not promote marketing success in all cases. Effectiveness depends on the following basic requirements:

  • The market segment must present measurable purchasing power and size.
  • Marketers must find a way to effectively promote to and serve the market segment.
  • Marketers must identify segments that are sufficiently large enough to give them good profit potential.
  • The firm must target segments that match its marketing capabilities. Targeting a large number of niche markets can produce an expensive, complex and inefficient strategy.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Components of a Business Plan


Business plan tells a very special story. It is the story of a unique business enterprise, the one you, the entrepreneur, will create. Telling this story will reveal how knowledgeable and competent you are, how certain the outcome is, and how desirable it is to proceed with the project.

There are similarities among all good business plans, but no two are exactly alike, because no two businesses are exactly alike, even if they make and sell same thing to the same market, two businesses will have different personalities. The behavior and attitudes of the managers will be reflected in the businesses. Even the décor will be different, just as the homes of the managers will reflect their individual taste and style. Each business plan is unique.

Several topics that deserve consideration in the plan: what, how, where, and when. You would expect to see topic headings like the following:

  1. The Product. What product or service is being offered? How is it made ready for sale?
  2. Target market. Who will part with their money? How many of them are there? Where are they?
  3. Competition. Where do the customers obtain the product or service now? How does that product or service differ from yours? How strong is the competition?
  4. Marketing. How will the customers learn about your product? Where can they buy it? How does it get to where they buy it?
  5. Management. Who will coordinate the activities of production, administration, and marketing? Who will decide what is to be done and when?
  6. Financial Performance? How much profit will be made and when? How much capital is required? What will the business’s net worth be a year from now? Two years from now?

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Inter-Cultural Communication


Companies face special challenges when they market their products and services to people in other countries and to people in their home countries who come from other cultures:

  • Companies have to make their communications understandable and clear to their target audiences. The company that does not modify its information risks offending its audience and losing the opportunity to do business.
  • Companies are ethically obligated not to reinforce patterns of discrimination in product information.
  • Companies are not obligated to challenge the prevailing prejudice directly. Organizations that actively oppose discrimination are acting admirably.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Not-for-Profit Marketing


Non-for-Profit organizations encounter a special set of characteristics that influence their marketing activities. Like profit making firms, not-for-profit organizations may market tangible goods and/or intangible services. One important distinction exists between not-for-profit organizations and profit oriented companies. Profit-seeking businesses tend to focus their marketing on just one public—their customers. Not-for-profit organizations, however, must often market to multiple publics, which complicates decision-making regarding the correct markets to target. Many deal with at least two major publics—their clients and their sponsors—and often many other publics, as well. Political candidates, for example, target both voters and campaign contributors. A college targets prospective students as clients of its marketing program, but it also markets to current students, parents of students, alumni, faculty, staff, local businesses, and local government agencies.

A second distinguishing characteristic of not-for-profit marketing is that a customer or service user may wield less control over the organization’s destiny than would be true for customers of a profit-seeking firm. A government employee may be  far more concerned with the opinion of a member of the legislature’s appropriations committee than with that of a service user. Not-for-profit organizations also often possess some degree of monopoly power in a given geographic area.

Perhaps the most commonly noted feature of the non-profit-organization is its lack of a bottom line—business jargon referring to the overall profitability measure of performance. Profit-seeking firms measure profitability in terms of sales and revenues. While not-for-profit organizations may attempt to maximize their return from specific services, they usually substitute less exact goals, such as service-level standards, for overall evaluation criteria. As a result, it is often difficult to set marketing objectives that are aligned specifically with overall organizational goals.

A typical aspect of a non-for-profit organization is the lack of a clear organizational structure. Not-for-profit organizations often respond to constituencies that they serve, but these usually are less exact than, for example, the stockholders of a profit-oriented corporation. Not-for-profit organizations often have multiple organizational structures.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Market-Driven Management


Market-driven management is a cross functional effort involving all levels of the organization. Properly followed, it ensures all activities are coordinated to meet the specific needs of target customer groups. All R&D projects are focused on developing solutions to identified customer problems, manufacturing is committed to meeting cost targets, quality standards, and delivery cycles, and sales focused on identifying and interpreting customer problems and then selling them solutions. If someone ask the individual managers within any of these functional areas how they operate, they would most likely say, “just as you described.” It is unlikely, however, that their counterparts in other functional areas would agree, and even more unlikely that there would be a consensus among all managers at all levels. Achieving this market driven focus with fully agreed upon objectives and priorities in each functional area requires the complete support of everyone in the organization. Market-driven management is much easier said than done because it flies in the face of the attitudes and actions of most managers.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

Person Marketing


Person marketing is a category of nontraditional marketing that refers to efforts designed to cultivate the attention, interest, and preferences of a target market towards a celebrity or authority figure. Celebrities can be real people, functional characters, or widely recognized authority figures.

Campaigns for political candidates and the marketing of celebrities are examples of person marketing. In political marketing, candidates target two markets. They attempt to gain the recognition and preference of voters and the financial support of donors.

The big winners among celebrity endorsers are professional sportspeople. The fans are eager to participate in an illusion—those landlocked pillars of their community pretending they are finally going to cash in their chips and set sail for uncharted waters.

My Consultancy–Asif J. Mir – Management Consultant–transforms organizations where people have the freedom to be creative, a place that brings out the best in everybody–an open, fair place where people have a sense that what they do matters. For details please visit www.asifjmir.com, and my Lectures.

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