sucess formula

yesterday just happen to visit timaktoo my hangout place when i used to be in mumbai must say the concept of hookah in a open terrace with a village like ambeince is truly appealing and there usp.the main target customers are the teenager who have very fat pocket to blow off there fathers, hard earned money or rather black money....whattook me by suprise was inspite of non avability of hukah the seat were fully occupied this is the magic of ipl in india such is the craze of ipl no matter the thing for which you visit a place is absent the only idea of being together watching a match with your freinds is a succesful formula for buisness enterprise targetting youth as such all have managed to rope in the excitment of ipl for the increase in profit...this is what diffrentiate a succesful brand i took ipl issue just as an example to show how focused are this succesful brands for customer satisfaction and new ideas to increase there buisness ..a buissness with new ideas and constant innovativeness will never go unnoticed and sucess is guaranteed.

apology

exam time and too much of my internship tension stopped me from writing blog though truly lack of content also kept me at bay ..i am back at my place Mumbai it feels so great that your back to your loved ones coming here i got a surprise my brother bought a new Honda activa this is a second time we buying moped from Honda stable its not that we are brand loyal as such but must say for moped Honda's brand recall is commanding and for this high price commodity brand recall is a must this is a spot on for Honda though we waited for three months it was worth waiting what Honda is always brought up innovation which is consumer friendly and that whats it make it a market leader as a matter of fact any damn thing maybe its unique pearl white color or fully fibre body it is always striving hard for its user friendly innovation cheers to Honda it has come a long way competing with Kinetic,TVS ,Bajaj etc and successfully becoming  a market leader cheers to that...my only complain for this company can by any means you can reduce the waiting time for activa 3months is hell lot of time maybe Honda needs to revise its supply chain !!!!!!!

marketin sins

this tips are from kotlers 10 deadly sins for marketeers-

·    The company segment the market, chooses the best segments and develop a strong position in each chosen segment

·         The company maps its customers need, perception, preferences and behaviour and motivates it take holder to obsess about serving and satisfying customer

·         Major competitors strengths and weakness should be known

·         Partnering out its stakeholders and generously reward them

·         Develop system for identifying opportunities, ranking them and choosing the best one either product leader operation leader customer preference

·         Marketing planning system that lead to long term and short term.

·         Company exercise strong control over its product and service mix

·         build strong brands by using the most cost-effective communication and promotion tools

·         company builds marketing leadership and a team spirit among its various department·         company constantly adds technology that gives it a competitive advantage in the market place

marketing research

sometimes i use to wonder why market research is so important why cant a service sector for eg hotel goes by its gut feeling ...i use to think market research  is a waste of time but i what hit me as a reality was something different knowing the choice and needs of your target customers is much better than just going by your gut feeling there are contradictions that market research increases your cost but sometimes it may be the other way round sometimes you feel a particular feature will be loved by the consumer like including video stations in a coffee bar ,but actually people visit a coffee bar for conversation whereas playing video station will be least preferred  thus your gut feeling going completely against you idea of coffee bar meant for a conversation this is the impact of market research it sometimes helps to reduce unnecessary cost which would have been incurred if gone through our gut feeling....i dont completely contradict gut feel as sometime customer dont know themselves what they need and we marketeer are responsible for creating the need but a blend of both is a win win combination

brand loyal

brand loyal and being in a relation is one and the same ..... because of the positioning you perceive its personality or value offering is much appreciated or rather appealing to you ...... you tend to like the product and the same product has become a solution for your need in that particular category you dont expect anything more ..... feature and their point of differentiation is align not only to make you happy but make you feel its the only brand which can completely act as a solution for your need and later on you feel addicted to brand and you attach a sentiment and a personality to the brand which make you perceive the brand as a reflection of your self one thats describes yourself.... you want people to associate brand with you......and when everything gets monotonous you tend to shift loyalty and tend to switch to another brand as it promises more than your existing brand but the emotional sentiment attached makes it ultimately difficult to like the another brand again you shift loyalty to the previous brand this may not happen if other brand delivers more user friendly features which is customer oriented.....i think the best solution a brand must follow to keep their loyal customer attracted is product line extension......as they say "true love is when your partner leaves you and than again comes back to you accepting his mistake"....make sure that your customer are always happy using your product and and always value your loyal customers as they have the power to make you the no 1 brand or throw you out of the business....

positioning

positioning is the essential tool as far as long term brand building is concerned ..

communicating positionning strategy for a mass base consumer can only be afforded by the big fat corporates wherein they have huge capital base .....but what about small startups by buddying entrepreneur what about them is this marketing concept not applicable to start up brands...the answer is no i guess the only part which may be not be used in small scale buinesses is advertising part of communication channels .....other than that some of the concept can be successfully adopted by sbu in a very successful manner.take position for example or targetting this can be used while setting up a sbu u need to properly target the customer

rmbr segmentation is also hold a equal importance but targeting doesnt mean only taking a wide consumer base but we need to properly target age group for ex restaurant should have a proper target like only for upper class people and schold plan out all theier strategy in accordance ...... positioning is the very sequence of targeting one must always rememmber for long term win strategy the organisation must keepin mind their STP in mind as any miss match

of application tools will hamper the brand image though in a very small base a good example to folloew STP thorughly is taj hotels as such the reason i chosse a paricular brand and the whole tata group because at smaller level the start with a particular sectori will explain about this latter but let me tell in todays world if your brand delights your stp target than recognition of your brand is easy because of digital marketing or rather through WOM (word of mouth) plays an important role in todays socially connected market that is the reason the STP plays an very important part rather than just targetting masses because it is impossible to delight or ratherr not affordable to delight the masses......thats the power of STP though i agree

THE probablity is much guarnteed in gen y set of the consumers but cheers to marketing the only prob with us is though we recognice the practicall applicablity of this concept we find it difficult to apply .....as they say commonsense is uncommon .....

importance of sales

ever thought every single day to day product which we use use for example toothpaste  would have possibly not known to us or rather may not be produced as mass usage couldn't have been possible  as they say"if people cant use your product why make it"......a piece of information logistics roughly takes 20% of total cost depending upon type of product but isn't that worth it...... this is the importance of logistics...without logistic we couldn't have enjoyed the luxury or rather fulfill even our basic needs as we are enjoying in todays modernized supply chain era