As more and more people prefer to shop online, an online presence is almost a requirement for just about any kind of bricks-and-mortar company from any kind of industry. Some online companies, however, are discovering the surprising benefits of traveling in the other direction: opening up bricks-and-mortar showrooms, allowing customers to feel and try on […]
Subject: Marketing
Why Differentiating Rating Scale Labelling is Important
Online consumers have come to expect to be able to read customer ratings and reviews as they consider which product or service to buy. On websites such as IMDB, Amazon and Expedia, reviewing the ratings from other customers is an important part of the purchasing process. Rating scales are also used in other contexts, such […]
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Three Product Innovation Strategies for Emerging Markets and How to Choose
It is hard to resist the pull of emerging markets, such as India and China. Given the immense population in such countries, even the small percentage of the total population that can be considered ‘middle class’ represents huge markets for companies in developed countries. And this new emerging-market middle class is only growing. Succeeding in […]
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Do Your Managers – Responses to Market Results Damage Profits?
Many managers believe that quality is something that they as managers and decision-makers can control. Quality is internal and stable, unlike prices, which are subject to changing market conditions. Although prices are set internally, of course, these outside market pressures effectively, in the view of managers, take price decisions out of their hands (for example, […]
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How Crowdfunding Affects Product and Pricing Decisions
Through crowdfunding, investors choose to participate in new projects by becoming ‘pre-buyers’. The term ‘pre-buyer’ is used because no money changes hands until the venture has enough funds to start operations. If not enough money is raised in the allotted time, the venture fails. The investment occurs sequentially, so that new pre-buyers can see the […]
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How to Measure and Manage Reputation
How would you describe the impact of your organization’s reputation on overall business performance? Trust may play a big part in building that reputation, but how closely are trust and reputation linked to better earnings? To what degree does your corporate reputation drive the behaviours (recommending, purchasing, investing etc) of your firm’s main stakeholder groups? […]
Building a Brand Image Across Multiple Countries
When marketing their brands, companies will use image attributes, which are the impressions that the brand makes on the mind of consumers. For a car brand, for example, marketers might position their brand on the image of being ‘safe and dependable’ or ‘exciting’ or ‘tough.’ Brand consistency — using the same image or positioning in […]
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How Customer Participation Builds Loyalty
Customer word-of-mouth is a hot topic in marketing today. Positive customer-to-customer reviews, whether verbal or written, are powerful marketing tools because they have more credibility with customers than company-generated marketing. In addition, once customers help spread the word about a company’s products, they are more engaged and committed to that company. Customer participation, on the […]
How Advert-Evoked Feelings Sway Attitudes to Brands
Previous academic studies have connected how people feel about an ad to how they feel about the brand, but the validity of these results in the real world marketplace was of some concern. These studies only involved small groups of participants, often students, answering questions about a small sample of ads. A new study that […]
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Ambiguous Ads: Hidden Messages, Hidden Risks?
Social change has made advertising that appeals to a broader range of consumers more important and desirable. A company’s ‘diversity and inclusion’ agenda does not, however, always transfer easily to the domain of marketing. Mass-media campaigns aimed at every social group that might buy a product or service can be complicated and costly to produce. […]
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