- Assurance that the product
will deliver the promised value,
- Performance guarantee,
- Ease of selection,
- Psychological satisfaction,
- Social status
- Affects decisions related to
what, how, when, and where message will be said,
as well as who will say it - Six buyer readiness stages
- Attention, Interest, Desire,
Action framework guides message design
- Message content contains
appeals or themes designed to produce desired results
- Rational appeals
- Emotional appeals
- Love, pride, joy, humor,
fear, guilt, shame
- Moral appeals
Once
upon a time there lived a man who was a sculptor in a small district. One day he
made a same piece of art which was already installed at a public place in a
city. Both the art were same but the city art had wide audience. The statue
located in city was huge and attractive that people passing by could not resist
themselves to stop and praise. Many other travelers and people from different
cities countries used to come to see that magnificent art.
Whereas
the statue in district had limited audience and it was even more challenging
for the artist to make his presence alive.
It
was a big question for the talent about its new art piece... Why will it be
appreciated? According to sculptor his statue was different and old art was just
an inspiration. But still artist conviction and perseverance kept him moving
forward. He was sure that he will please his audience even though the art was
same… His art piece was not for own self but for others… his beloved audience.
The artist was confused, he wanted to tell the world about the art but was
unaware about the possibilities. But then a mentor came to guide him.
Mentor
played a huge role in sculptor life. He engraved never giving up spirit in
artist heart and mind. Mentor provided many strategies to promote his art and
also trained him for the same. He made an indispensable place in market. A day
before art revelation… sculptor took his drums and went on a journey to
publicize his art. It brought attention and interaction among locals. Many
others from far countries started coming to see that sculpture. It was not
mystic but it was artist tireless effort and guidance by his mentor.
Similarly
what Small Medium Enterprise should do when they have competitors around, that
too in large number?
The first
thing that one should focus on is how they can benefit their consumers:-
The
company may also find it will lose some clients along the way. If this is the
case, do they fit in with brand values? A customer that doesn’t fit this value
may harm the brand. If these customers do fit the perceived brand value, then
the company needs to find out why it still isn’t working the way it planned
what the brand should communicate.
In
today’s global scenario how you can make yourself spot among other sheep’s?
In the
economic globalization, to compete on a global scale and survive Small Medium
Enterprises must focus on a strategic approach of market strategy and their
other brand building needs. Brand management is a systematic process involving
management activities, with both science and art. Often, the problems faced by
SMEs in the market are answered by the branding strategy but it’s on us to
implement and maintain the continuity then falls on the SME itself. From brand
positioning, brand quality, brand culture, brand personality building, brand
public relations and extension, etc. SMEs must know how to implement brand
strategies and stand up in market with pride.
Who,
What, When, Where and Why marketing yourself?
Small and
medium enterprises (SMEs) today need to think beyond conventional marketing
practices of large companies and search for alternative marketing approaches
such as personal contact networks, social networks, e-commerce tools, B2B
portals, business networks and industry and marketing networks. For Branding
& Crowd Sourcing one should get ideas from all over the world to improve
your products & services which will help in attracting more visitors to
your website & get them to stay longer than before
The piece
of art conveyed a message; it was made for a target audience, was well
advertised.
I have
seen many SMEs who have failed to get buyers or even enough inquiries because
they had never developed the Unique Selling Point (USP) of their products. They
are not sure about how their products were different from those already in the
market. Since they were unaware of this vital aspect, they were unable to understand
the needs of their target audience
How can
Small Medium Enterprise apart themselves from their competitors…..???
Step 1: Identifying the Target Audience
Step 2: Determining Communication Objectives
Step 3: Designing a Message
“However,
most of the Small Medium Enterprises are yet to wake up to the fact that online
marketing can and is the only cost-effective, measurable and targeted
advertising channel. At a time when the major markets are shrinking
considerably, I strongly believe that each and every SME should have a
marketing strategy to not only showcase its products, but also to easily get
inquiries from other markets.
Excellence
is drive from inside but not from outside….. The more you shine, brighter will
be your growth.”
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