retail Marketing Services in navi mumbai

Becoming Marketing Active: The Fulcrum Guide to Getting Started with Business Marketing –  In the first part of our guide to becoming marketing active retail Marketing Services in navi mumbai, we looked at some of the reasons that drive a business to start marketing (if you missed part one, check it out here). But once you’ve made the decision to embark on a marketing strategy for your business, what next? Where do you start and what steps should you take to ensure a smooth and successful process? As is so often the case in business (and life!), preparation is key. So before rushing into any kind of marketing, it’s important to take the time to plan, research and strategise for success. In order to create an effective marketing strategy, you need to develop a thorough understanding of your market, your competitors and your business itself. This means getting back to basics and equipping yourself with all the information you need to identify marketing activities that work for your brand. 1) Research your target market How much do you know about the target audience of your product or service? We’re not just talking about age, sex or occupation (though, of course, you need to know these too). To have the best chance of reaching your target market, you need to dig deeper and find out exactly what drives them towards purchase. What kind of triggers are they most likely to respond to? Which elements of the marketing mix have the most impact on them? How will your product or service benefit them? Understanding these aspects of your target audience will enable you to position and market your brand accordingly, so comprehensive market research is essential. It’s often easier (and more cost-effective) to outsource this type of research to a professional agency who will be better placed to obtain the information you need. 2) Analyse your competition In order to stay ahead of your competitors, you need to know who they are, what they’re doing and how they’re doing it. Once you’ve identified who your key business competitors are, look into the marketing methods they’re using and the way in which they have positioned their brand. What channels and platforms have they chosen to market their business? How are they promoting their brand and its products/services? Consider which elements are crucial to your own business and how you can position your brand in order to get ahead. 3) Define your objectives What do you want to achieve from your marketing activity? Whether it’s to increase your revenue, establish your business in a new market segment or improve brand awareness, setting clear, measurable marketing objectives is vital in understanding what steps need to be taken in order to achieve these goals. Make sure that each identified objective is specific (how much do you want to increase revenue by?), achievable (is it realistic?) and has a timeframe for accomplishment (are you aiming to achieve this goal in three months or a year?). You also need to make sure that your marketing objectives tie in with your overall business objectives. 4) Understand your business You may think you have a pretty good understanding of your business, but it’s surprising what insights can be achieved when you conduct a thorough SWOT analysis (strengths, weaknesses, opportunities, threats). Be rigorous, be meticulous, and above all be brutally honest. Is a lack of staff training letting your business down? Are your prices too high to compete in today’s market? Arming yourself with this knowledge is invaluable in developing a marketing strategy that leverages your company’s strengths and addresses those areas which need to be improved. In the next instalment of the Fulcrum guide to becoming marketing active, we’ll be looking at the raft of marketing channels available and helping you to identify which ones are best for your business. If you have something to share on this topic, why not get in touch? Leave your comments below…  

retail Marketing Services in navi mumbai

Sales Promotion

We generate brand-building activation ideas that engage your consumers and lead to measurable results. Our sales promotion encompass a variety of short-term techniques designed to attract your consumers to respond to your brand in a positive way. The most effective sales promotion is directly associated with product purchasing. This sales promotion is intended to enhance the value of your product by either reducing the cost or by adding more benefits to increase sales. Our sales promotion techniques also can be used to achieve your other objectives such as building brand loyalty or creating product awareness. Consequently, Fulcrum team a large variety of consumer promotions. Contests, Sweepstakes, and Games Loyalty Programs Sampling and Product Trials Sponsorships Partnerships Endorsements Events Mobile Tours Demonstrations Personal Appearances Coupons Rebates Premiums

Benefits of Consumer Promotion

A successful promotional campaign has the capability to nurture relationships with consumers through maintenance and engagement. The following is a list of just a few of the myriad benefits that consumer promotion can provide to a brand.

When the aforementioned benefits of consumer promotion are considered as a whole, it is clear that they are indeed extremely helpful in driving revenue, creating brand engagement and enabling companies to acquire new consumers. Consumer promotion is undoubtedly an efficient and effective vehicle for marketing communications. For consumers, sales promotion provides a direct and often rational motivation to purchase the product being promoted.

Opportunity

A promotion allows brands the opportunity to communicate on packaging and enables them to focus campaigns around an event. ComA promotion allows brands the opportunity to communicate on packaging and enables them to focus campaigns around an event. Communication is a skill that creates formidable relationships with consumers that make your brand unique.munication is a skill that creates formidable relationships with consumers that make your brand unique.

Differentiation

A brand needs to be different to survive, and a consumer promotion can be a fantastic way to make a brand stand out from the crowd. It holds the potential to add unique value to a customer through a competition or unique experience, creating a reason to choose your product in a crowded market.

Focus

A consumer promotion often becomes an event for the company, which then allows it to focus all its channels of marketing. A focused approach can force a firm to change the way they market themselves and create brand engagement through those changes.

Reputation

A brand is not the only one who can communicate a consumer promotion. Word of mouth is one of the most positive forms of communication, especially if it is coming from a friend or colleague, as they are usually a trusted and reliable source. Give your consumers a reason to be surprised and they will make sure your reputation thrives.

Revenue

 Simply put, more sales from your promotion will create higher revenue. However, brands need to always calculate their costs and ensure they are aware of how many people may redeem the promotion and ensure that it is a profitable endeavor.

Information

 When customers attempt to redeem promotions, brands can often retrieve data such as email addresses and their home address. This creates the opportunity to target a customer through segmentation; you can then use direct mail or email campaigns to create personalized marketing.

Incentive

All the points above drive sales and make consumers’ decision-making much simpler. If a brand is offering a similar product but something additional, then the consumer will often want more for their money.

 

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