Marketing Principles @ Home

This post is going to throw a lot of insight into our households; the most neglected parts of all our marketers/sales guys who are outside in field or in offices making strategies to wow our consumers. We can rather learn a lot and apply most of consumer behavior/marketing principles at home only! This post is going to be a revelation of sorts..

Consumer is the King  - Be it your wife or your kid; this is a golden principle for them. Thou shall not follow it shall run great risks. Be it a trip to market or watching a particular channel; your wife and kids are like 'the consumer' and shall be treated like kings and be followed all times for better household hours :)


Customer Service is the key to success and peace - For couple who have just turned parents; they will agree to this principle with respect to their new-borns! Your kid, if not given service at 24 by 7; it will give you nightmares even during the days. Whether having food in the wee hours of the night or trying every trick to entertain the chap is what tells all newly become parents - that Supreme Customer Service for their kids is a MUST.


Customer is always right! - I am sure, all married men shall agree that this principle is the golden principle of marriage. Wife is always right. Thou shall not follow it shall suffer!

More will follow soon...watch this space.

I am Back!

Time to write some stuff here..

New Year Resolutions

This is a little different of a post on this blog which hasnt been updated for quite long. I had been the flagbearer of Marketing on campus during my MBA; however basic financial accumen is a must to have in order to manage the money you would earn thru marketing. Came across a blog - subramoney.com. A post on financial resolutions follows from the same -

Financial Resolutions for 2010!

Doing an article for the New year is easy. Just go to the article you did in the previous year…and change the year.
However is a good list of resolutions that you can make – it is really useful if you made it already, just reiterate it, and follow it! So here it goes
1. I will write down my financial goals – NOW, IMMEDIATELY.

2. I will convert a big portion of my savings into investments – especially if you are less than 55 years of age.

3. I will live a simple, frugal life by choice – but choose my dream career.

4. I will start saving/investing for my retirement – NOW IMMEDIATELY.

5. I will have regular conversations about money, saving and investing with my colleagues, friends, spouse, kids and parents – all people for whom I feel financially responsible.

6. I will not deal in direct equity with my current level of knowledge of equities.

7. I will increase my financial knowledge – inter-alia by visiting www.subramoney.com, www.myiris.com, www.moneycontrol.com, and such other sites.

8. I will maintain my income and expenditure details diligently and keep reviewing them.

9. I will maintain proper records of my assets and liabilities, understand the risk of each asset class, and do proper asset allocation.

10. I will protect all those people dependent on me. Will review my term insurance, medical insurance and retirement and make sure it is up to date and adequate, and the nominees are current.
Most important: Properly stick to all the resolutions!

The Facebook Marketing Bible: 24 Ways to Market Your Brand, Company, Product, or Service Inside Facebook

The Facebook Marketing Bible: 24 Ways to Market Your Brand, Company, Product, or Service Inside Facebook

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Ghajini + Titan

In these times of recession, film industry is trying refreshig means of promoting films - Ghajini with its ticket booking staff donning the aamir-haircut & aamir himself giving haircuts! May be SRK could have also gone for scooter rides for Rab ne...!

However, Titan's joint-promotion with Gazhini really was innovative. Most of us didnt get glimpse of it as it was localized to Mumbai. Aamir being the brand ambassador for Titan, it added mileage to both movie & brand.

The promotion was like - Enter any Titan EBO and u can win a watch if you can find the watch that aamir wore in Ghazini - in 14 minutes 58 seconds (Remember the short-term memory case!). Titan claims it did wonders with the footfalls...dont know whether it resulted in sale & how many were able to find the watch!

Anyways refreshing!

From Ghazini, remembered that in one of the awards show, Akshay gave away his 'best actor' trophy (For Sing is Kinng) to Aamir for Ghazini....accepting that he never thought that an actor can be so dedicated to his movie..that he can spend 4 hrs daily toiling for those '8 pack abs' for 18 months non-stop!! Amazing really!!

More on Ghazini-Titan (http://in.movies.yahoo.com/news-detail/42453/Titan-Ghajini-Promotion-Rakes-in-Thunderous-10-000-Footfalls-in-Mumbai.html)

Pulsar Mania...

Pulsar New Ad (bajaj Pulsar Mania 220cc - video powered by Metacafe

3M 4 Marketing Performance

Measures of marketing performance!!

We all have learnt in marketing basics, terms like: market share, lifetime value and brand equity. These gauges are directly linked to the three specific performance areas that Marketing can impact: acquisition, penetration and monetization.

Acquisition
The first responsibility of Marketing is to identify and enable the organization to acquire customers, without whom there is no revenue, without which there is no business. Acquisition enables the company to increase its market share. Four key performance indicators enable you to address market share:

• Customer growth rate


• Share of preference


• Share of voice


• Share of distribution.

Penetration

The second responsibility of Marketing is to keep the customers that the company acquires and increase the value of these customers. It is expensive and ultimately disastrous to have customers coming in one door only to go out another. The following four performance indicators will help your drive these penetration-related metrics:

• Frequency and recency of purchase


• Share of wallet


• Purchase value growth rate


• Customer tenure


• Customer loyalty and advocacy

Monetization
The third responsibility of Marketing is monetization. Up until the 1970s, a company's value was determined by its book value. Over time, intangible assets, such as a company's intellectual property, customer value, franchises, goodwill and so on have had an increasing effect on a company's market value. Marketing professionals can improve the market value of their company by improving their performance in four key areas:

• Price premium


• Customer franchise value


• Rate of new product acceptance


• Net advocate score

Source: Marketingprofs.com