It’s important not to forget how your customers think. There’s the old adage: “put yourself in their shoes” – but there any many businesses who don’t. The trouble is, they get so wrapped up in what they’re doing, the technology and the objectives, the jargon and the statistics, the products and the profits, that they…
As my entry into the JupiterJasper Marketing lesson blogging competition, this blog is about the one concept of marketing I think will really help your business. This is ‘communication’, which comes in many guises: Research Do research into how your customers think, in order to communicate with them effectively. Even before starting to trade, it’s…
Absorption costs – all the costs of producing the product plus an allowance for overheads, eg calculating a break-even point for sales Cost-base and marginal costing – this is customer orientated, and consists of cost-plus and mark-up pricing. Cost-plus pricing – a price that guarantees pre-determined profit target, by calculating the cost of manufacturing and…
Why do businesses create new products? New products are developed to accommodate customers as they become more discerning and savvy within the market, which results in them changing their minds and needs. In a corporate point of view a new product could help outpace the competition, respond to environmental threats and opportunities and accommodate technological…
Marketing is actually a fairly recent phenomenon. It came about as a series of methods to enhance profits, analyse customers and to produce planned processes. After the industrial revolution arose the means of mass production. Companies could produce much more on demand, which in turn created more discerning customers with changing expectations, combined with increasing…
In my past post about customer loyalty, I mentioned that “Loyalty requires working on these satisfied customers, giving them excellent, high quality service, forming a relationship with them to find out exactly want they want, how it can be delivered to them in the best possible manner, and consistently providing your service that exceeds their…
A brand is perceived in many ways by the customer, and by the company. There are many misconceptions like a brand is the logo: a name, symbol, colour, font, slogan or whatever, but it is more than that; the logo is merely the brand’s element that is immediately recognisable, and differentiates it from its competitors….
I’m doing several website reviews this week. The main brief is to find out whether each website attracts the right kind of customer, and whether the right message is being put across. The first thing I look for is whether I understand what the main subject, niche or industry the website is representing. This may…
In one of the questions I answered in LinkedIn, one responder asked me what I meant by added value. He thought it referred to the difference between the cost price and the manufactured price of a product. It may do, but when you use the term added value in marketing it takes on a different…
If you make your customers happy, then they are satisfied; but that is not the same as loyalty. Loyalty requires working on these satisfied customers, giving them excellent, high quality service, forming a relationship with them to find out exactly want they want, how it can be delivered to them in the best possible manner,…
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