COVER STORY
Ritualizing the Brand
-- Swati Singh
This article looks at brand rituals as a means for both differentiating brands and increasing their consumption. Over the years, a number of brands have attempted to associate themselves with existing rituals or have created their own rituals in their attempts to capture the market. Due to their symbolic nature, rituals generate kinship towards the brand, enticing the customer to revert to the brand experience. Just like the brand name and logo, the rituals too get etched in the consumer's memory through incessant repetition. In an increasingly commoditized marketplace, marketers can unlock the hidden potential of brand rituals, thus opening up new avenues for brand differentiation.
© 2010 IUP. All Rights Reserved.
CONSUMER BEHAVIOR
Sensory Branding
-- Swati Soni and Makarand Upadhyaya
The markets, today, have far many brands in each product category than ever before. The number of brands is much more than what consumers can comprehend and compare. This, very often, creates chaos and confusion. In order to remain visible and relevant to consumers among the clutter of alternatives, one must innovate something that is basic and simple, and yet appeals to consumers on an ordinary and everyday basis. Sensory branding is a subtle, pleasant and innocuous way of creating a compelling brand experience in a competitive market, where conventional advertising, by itself, fails to create a distinct identity for one's brand.
© 2010 IUP. All Rights Reserved.
CONSUMER BEHAVIOR
Just Noticeable Difference: The Concept and its Application to FMCGs
-- B Bakkappa and Deepali Walavalkar
The concept of differential threshold, or just noticeable difference, influences how consumers perceive a particular marketing stimulus. Marketers appreciate the significance of this concept and have been using it to make their marketing mix decisions. This article explores how brands in the FMCG sector are currently using this concept in order to gain an edge amidst the competitive clutter.
© 2010 IUP. All Rights Reserved.
SERVICES MARKETING
Is the Customer Always Right? Learnings from the Services Sector
-- Shailendra Dasari and Suchitra Kambhampati
Service, in any form has to be handled in a deft manner because of its distinct characteristics, such as intangibility, lack of standardization, inseparability and perishability. In a service scenario, purchase results in a direct relationship with the service provider. This article attempts to revisit the concept `customer is always right' from the perspective of service providers and prepares the ground for further discussions by academicians and practitioners of services marketing on this highly relevant, but somewhat debatable, topic.
© 2010 IUP. All Rights Reserved.
CONSUMER RESEARCH
Emotional Marketing: Capturing the Customers' Hearts
-- Khushbu Shahu
In today's competitive market, customers are more alert and choosy about what they buy. In this situation, attracting customers through emotions is emerging as an oft used tool by marketers. This method of marketing is about connecting your target market to your product or service through customers' emotions. Emotional thoughts stimulate people's minds faster than non-emotional thoughts. The findings of a consumer survey on emotional marketing are presented here.
© 2010 IUP. All Rights Reserved.
INDUSTRY FOCUS
Indian Pharmaceutical Industry in 2020
-- A Lakshminarasimha
The business environment is changing for every industry. Changes in customer behavior, awareness levels and demand patterns have led to change in business models. For the pharmaceutical industry, consumer behavior is not the only variable. Changes in global climate, demographic characteristics and lifestyles are also resulting in increased focus on healthcare at the national and international levels. This article examines the factors responsible for changes in the Indian pharmaceutical industry and projects the scenario for the year 2020.
© 2010 IUP. All Rights Reserved.
CASE STUDY
Volkswagen's Marketing Strategies
-- R Harish
This case study highlights various aspects of the marketing strategy followed by Volkswagen pertaining to advertising and sales promotion, pricing, segmenting, targeting and positioning at different points in time and in response to diverse circumstances. It also provides a broad perspective on the marketing situations and challenges faced by a global automobile major, and its tryst with successes and failures. The numerous examples quoted provide triggers for debate and discussion.
© 2010 IUP. All Rights Reserved.
BOOK REVIEW
Repositioning
-- Authors : Jack Trout with Steve Rivkin,
Reviewed by Pradhumn Kuma
Repositioning: Marketing in an Era of Competition, Change, and Crisis, is in a way a sequel to the best-selling book Positioning: The Battle for Your Mind by Al Ries and Jack Trout. "Repositioning" looks into various aspects related to the positioning and repositioning of brands and products. The authors focus on three aspects -competition, change and crisis - which are the major triggers for the repositioning of brands. Repositioning is an important market move to differentiate one's brand from those of the competitors and also to position one's products and services in the minds of the target consumers. Repositioning helps companies to revitalize themselves and successfully withstand competition.
© 2010 by Jack Trout. All Rights Reserved. IUP holds the copyright for the review.
BUSINESS STRATEGY
Innovation: Prerequisite for Success in the Market
-- T Frank Sunil Justus, J Tamil Selvi and T Sunitha
The ability of a company to innovate in order to attain superior efficiency, quality and customer responsiveness will determine if its product is differentiated from that of its rivals and if it has a low cost structure. Companies that can increase the utility that customers can get from their products through differentiation, while simultaneously lowering their cost create more value than their competitors. This leads to competitive advantage and superior profitability.
© 2010 IUP. All Rights Reserved.
Global
Executive Summaries |
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Loyalty - How to Win Devotion from Your Customers
Full Text: www.b2binternational.com
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Important Factors to Consider as You Develop or Enhance Your Electronic Bill Presentment and Payment Strategy
Full Text: www.regulusgroup.com
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