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Showing posts with the label business

Blue Ocean Mindset in the Covid-19 era

  The Blue Ocean Strategy book launched a revolution in business strategy. After all, which firm would not be operating in uncontested market space, where the competition was irrelevant? Instead of struggling to survive in the bloody shark-infested “Red Oceans” of vicious competition, why not move to the “Blue Oceans” where there was little or no competition ? What inspired is how organizations and individuals that created new frontiers of opportunity and growth. Where success was not about fighting for a bigger slice of an existing, often shrinking pie, but about creating a larger economic pie for all . In the effect, Blue Ocean strategy involves market-creating innovation. It opens up new possibilities that are not available to organizations operating within the existing cost-value structure. It expands the universe as to what is possible, often enabling higher value at a lower cost .     So, what are the key components in successful Blue Ocean implementation Mindset: as i

The History of Marketing: From Trading to Technology

Today marketing is known as an advanced blend of strategy and technology, however, it hasn’t always been this way. The history of marketing as we know it began with the humble beginnings of simply trying to sell goods and services . Attempts to accomplish this may be as old as civilization itself. Some believe it started with trying to presents goods in a certain way for trading. The effort to develop persuasive communications for selling goods and services has been around since ancient times. This activity may not have been recognized as marketing then, but it was a developing idea . Concept of Marketing The idea of marketing as it is understood in the modern era began during the time of the Industrial Revolution. This period spanned the late 18th century and lasted long into the 19th century. It was a time of rapid social change motivated by innovations in the scientific and technological industries . It was during the Industrial Revolution that purchasing goods began to

Marketers should be unicorns in 2020

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Marketers feel like they have to try everything and stay ahead of all the trends. Here are some answers for 2020 The world of marketing continues to evolve every year, and 2019 was no different. But with more marketing channels comes more confusion about where to invest limited budgets for the greatest return. Even as digital channels like social media and search engine optimization (SEO) continue to grow, “old-school” channels like direct mail and email still thrive because they still deliver results. Twenty-two marketing experts and practitioners recently responded to a survey about what to expect in marketing for 2020. Interestingly, when asked which marketing channel was used most in their business during 2019, nearly two-thirds said social media. In fact, no other marketing channel got more than one vote except for email, which only received three votes. In 2020, though, marketers expect to branch out. At least half of the respondents indicated that they expect to use

6 Psychology Studies with Marketing Implications

Psychology is the study of human behavior, and there are very few jobs in the world that don’t have to do with human behavior. In no field is the overlap between psychological theories and real-world applications more apparent than marketing. The aim of marketing is to influence human behavior, and you can’t begin to do that if you don’t understand how humans behave. Here are six landmark experiments that reveal key insights about human behavior and the psychology of marketing. 1. Regan’s Reciprocity Experiment In 1971, Professor Dennis Regan at Cornell University demonstrated the power of the reciprocity principle in what was ostensibly an “art appreciation experiment.” In the experiment, subjects were asked to rate paintings with a partner, who was in reality a research assistant. So what does this experiment tell us about marketing? If you provide something of value to your customers or your website visitors, they will be far more likely to provide you with their busine

FROM DATA TO ACTION

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"Small signs can indicate the appearance of big things" (Zigmond Freud).  How can we implement hard data to effective marketing actions? I began my career as a marketing analyst at Visa. There I analyzed the core data of customer behavior within retail as well as market trends in various industries. Demographic, geographic, business transactions, etc.  Businesses who were clearing their transaction by Visa had benefited tremendously from this service and elevated their business with this valuable information. Today we are analyzing customer behavior throughout his/her journey within Digital assets. His/her preference and Digital geography. We follow him/her around the network, offering him/her our products/services. Using endless technologies - Google analytics, Outbrain, Taboola, and much more. But is it enough? In a world of personalized marketing, is learning the customer preference online is enough?  Is follow customer footprint online is enough

Mediation between business units

Mediation between business units is a mechanism for resolving professional disputes by agreement. Mediation between business units, which is an efficient and quick solution that does not harm the achievement of business goals, while at the same time significantly increases customer satisfaction. The system is an alternative and familiar from the world of law, in which a neutral party helps the parties to the dispute to reach an agreement in which the parties have a common interest along with differences of opinion. In fact, these companies are often characterized by matrix management or division management, which implies that a customer who purchases products from the company undergoes several processes with the organization before and after the purchase of the product. This situation harms the level of satisfaction of the customer and leads to a series of events that make him a bad ambassador to the organization, and in extreme cases, not rare, to be removed from t