Archive for the ‘Marketing’ Category

Jollibee’s Way of Advertising

Sunday, June 13th, 2010

In any business, no matter how you slice it, the more effective your advertising is, the more successful you will be. The fast food indsutry is no different, and the people at Jollibee Philippines (the division in the Philippines, as opposed to Jollibee International) definitely know what they’re doing when it comes to advertising. They know their target audience very well: the traditional Filipino family, and it caters very well towards the typical family in the Philippines.

Keep it in the Family

Focusing on the cultural tradition of the importance of family values, they have made a concerted effort to make sure that Filipinos associate Jollibee with a wholesome family meal. Not so much wholesome in the nutritional sense (it is fast food overall), but wholesome meaning that feeling you get inside your heart when you watch a “perfect” nuclear family with two parents, one boy and one girl enjoy the deliciousness of ChickenJoy on TV. Jollibee is targeting two areas: both the pallete as well as the heart. As you watch the young boy excitedly bite into his Yumburger with his insatiable appetite and his mother looking on with a friendly smile as she has french fries in her hands, you’re transpoorted to this magical fantasyland. You want to be part of that family. You want your family to be like that family. And in addition to all this, you want to go to Jollibee and eat a Yumburger. It might be a stretch to say that people will think that by going to Jollibee, their family can somehow transform and conform to this social norm.

In the Real World

And yet, when you walk into a Jollibee, you look around and many times that’s what you see: Filipino families congregating and enjoying their meal together. So what’s this say about the advertising? Is it effective advertising? I would argue that it is, but let’s not confuse correllation with causation. But at the end of the day, Jollibee keeps selling Yumburgers and ChickenJoy, so they must be doing something right with their advertising.

The Secret?

I believe it’s that intangible factor that their targeting in a person’s heart which makes it so successful. Remember that one commercial when the boy takes his mother to the local Jollibee and then he says that one day he’ll take her to Jollibee Hong Kong? That commercial is an example of successful advertising in multiple levels. It demonstrates the family value of caring for one’s parents today. It also sends the message about taking care of them in the future. Yet, not only is the boy promising mere local fast food, but he takes it to the next level by saying he will take her to Jollibee Hong Kong which resonates with each person’s internal desire for upward mobility.

In the end, it’s clear that the advertisers at Jollibee have been doing their research and know the Filipino culture very well. In addition to knowing the culture, I would go so far as to say they are contributing to the culture and changing it at the same time, something not many companies can say. Now the trick will be to see how successful Jollibee International can be by learning how to cater to a country’s niche food desires the way Jollibee Philippines has.

Failure Is Temporary

Thursday, June 10th, 2010

Would you like me to give you a formula for…success? It’s quite simple, really. Double your rate of failure… You’re thinking of failure as the enemy of success. But it isn’t at all…You can be discouraged by failure – or you can learn from it. So go ahead and make mistakes. Make all you can. Because, remember that’s where you’ll find success. On the far side of failure.

Thomas J. Watson, Sr.

This is very true in our everyday lives but it especially rings true in the internet marketing world. The people who are making the money are the ones who are willing to fail. So many have such great expectations when they start working on the internet, yet so many can’t handle the failure that comes with the territory.

Can you make money on the net? Yes. Are you going to have failures? Yes The question is are you going to fight back when those failures happen. So many get discouraged so fast. Maybe the unrealistic expectations have something to do with it. Dollar signs put wild fantasies in so many minds.

Most everyone who is successful on the internet today has had their times of failure. In fact there are going to be a lot of disappointments along the road to success. This is like any other business, it takes time and effort to make ones dream come true.

The old adage of learn from your mistakes is very true on the road to being successful in the internet marketing world. The only way to learn is to get your feet wet and see what it’s like. You can watch and learn, you can study and learn but experience is still the best teacher.

So many get discouraged and give up the idea of working on the internet. The fact is that it is not going to be easy but if you have the drive and the willingness to learn, you can be successful. You must go in knowing that you are not going to be rich tomorrow. You must realize that failure will be a part of becoming successful.

The answer to becoming a success in the marketing world is pretty much the same as everywhere else. You must be willing to work and you must not let failure get you down. Failure is a temporary situation, learn from it.

Easy Niche Marketing Success

Thursday, June 10th, 2010

One of the keys to Internet Marketing success is finding and exploiting underused niche markets.

Once you find these niche markets, here is what you must do:

1. Collect e-mail addresses.

This will be the key to your online niche business. When you are collecting e-mail addresses, you not only sell to your niche prospects immediately, but you can sell them other products in this particular niche market over and over again.

You must collect e-mail addresses!

2. Provide your subscribers with great free articles.

If you have chosen a niche market that you are not familiar with, you can still provide great articles. There are hundreds of article directories that provide free articles that you can use.

You can also go to any of the freelancer sites and have articles written in any niche market.

3. Provide your subscribers with free niche reports.

By now, you have loyal e-mail subscribers within your niche, and it’s time to provide them a report.

The easiest way to do this is to assemble a series of articles in your particular niche market and put them together into a niche report.

Within this niche report, make sure to add many affiliate links to products within your niche, along with links to your website. Also, be sure to allow subscribers who download your report to be able to give it away to others for free. This will create a very powerful viral marketing effect, and will drive a lot of traffic to your niche website and to your affiliate websites.

4. Offer a product for sale within your niche market.

Now it’s time to take your niche site to the next level. By now you should have a great deal of knowledge of your niche market.

Either write an ebook yourself, or go to one of the many freelancer sites and have one created. There are also some easy niche product creation solutions available on the net.

That’s enough to get you started.

The key is to create a lot of articles, a lot of reports, and a lot of products to sell in any niche market you choose. Don’t worry, It’s not as hard as it seems.

You don’t have to be an expert, you just need to find an easy product creation solution.

Marketing Management

Saturday, May 8th, 2010

Marketing management involves choosing target markets that not only get new customers but also retain the existing ones. It is a business subject, which is based on research and study of practical applications of marketing techniques and management of the marketing resources. The one who excels in this field is known as marketing manager. The job of the marketing manager is to influence the timing and level of customer demand so as to help the sales. It actually depends on the size of the business and environment in the corporate industry. Like if he is working in a huge production company, he will be the general manager of a particular product category assigned to him and he will be responsible for profit and loss with respect to the product. And in small business there is no marketing manager as his job is taken over by the partners of the company.

Creating and communicating best customer values can increase the number of customers. The steps taken and resources utilized to maintain existing customers and get new customers fall under marketing management. The scope is quite large because it not only consists of developing a product, but also retaining it. The term marketing management has many definitions. It actually depends on individual firms and how the marketing department functions and activities of other departments like operations finance, pricing and sales.

Before deciding about a marketing strategy, the company must do an in-depth study about their business, and the market. This is where marketing management merges with strategic planning. Usually the marketing strategies are of three types, customer analysis, company analysis and competitor analysis. Using the customer analysis, the market is broken down into different types of customers. The marketing management realizes the characteristics and other variables of each group. They are geographical location, demographic, customer behavior pattern and need. Like a group of people can be recognized who can be less price sensitive, purchases often and are growing. Such groups can be worked on by heavy investments as they are worth the money and time. They cannot only retain such customers and make new customers in this group but they can go to the very extent of turning back customers who don’t belong to this group. Understanding the needs makes customer’s expectations to be met per their satisfaction, better than the competitors, which will lead to higher sales and obvious profit.

Company analysis highlights the cost structure and resources of the company and cost position when compared to competitors. The accounting executives use it to learn about the profit earned by a particular product. From time to time, audits are conducted to study about the strengths of various brands of the company.

Marketers using competitor analysis build detail customer profiles. It gives a clear picture about the strengths and weaknesses of the firm, when compared to a competitor. The competitor’s cost structure, resources, competitive positioning, degree of vertical integration, product differentiation, and profits are studied in detail and are compared to what company is doing in those regards.

The marketing management to do marketing analysis carries out marketing research. The most common of such researches are qualitative marketing research, quantitative marketing research, experimental techniques and observational techniques.

After all the studies and researches are conducted, its easier for the marketing manager to make strategic decisions and they then can design a marketing strategy to increase the profits and revenues of their company. The other goals can be profit over the long run, market share, and revenue growth.

Relationship Marketing

Friday, May 7th, 2010

Relationship Marketing is targeted at building stronger and long lasting relationships with clients and other companies. The business is done with a strategic orientation, where the relationship is improved with existing customers rather than finding new customers. It is meant to cater to the needs of individual customers. Its major part involves studying the need of the customer and how it changes in different circumstances.

Relationship marketing applies techniques like marketing, sales, customer care and communication. The relationship is not only enhanced but its life period is increased by these strategies. And as the customer realizes the value of relationship, they are drawn closer. This marketing not only focuses on building relationship and attracting customers to their products and services but also how to retain them.

A raw form of Marketing came into existence in the 1960s. But, organizations were still facing difficulty in selling products, so a system was developed to sell low cost goods to larger group of customer. Leonard Berry and Jag Sheth originated this marketing, in 1982. It was started in B2B markets and industries, which involved long term contracts for many years. Over the period of time, various marketing strategies were improved and relationship marketing was one of them.

Relationship marketing is applicable where the customers have many options in the market for the same product or service and the customer is entitled to make a selection decision. In such a kind of market, businesses try to maintain their clients by providing comparatively better products and good service and hence, achieving customer loyalty. And once it is achieved it becomes difficult for competitors to do well in the market. The customer turnover wasn’t paid attention on as the main attention was on customer satisfaction. This kind of marketing was initially named as defensive marketing. Offensive marketing is the marketing strategy where not only new customers are attracted, but also the sales are stepped up by increasing the purchase frequency. This kind of marketing concentrates on freeing dissatisfied customers and acquiring new customers.

According to a research, the cost of retaining an old customer is only ten percent of the cost of getting a new customer, which makes sense to not to run around to get new customers in relationship marketing. And according to another research done by cross-sectional analysis, says that, a five percent improvement in customer retention is responsible for twenty-five to eighty-five percent of the profit. Usually high cost is incurred when getting new customers, so if sufficient number of existing customers is retained, there will be no need of acquiring new customers.

Once the customer trust is gained his chances of switching to other company becomes relatively less, he buys goods in bulk, he buys other supplementary goods and he starts neglecting average price variation. This maintains the unit sales volume and there is an increase in dollar-sales volume. The existing customers will be like a living advertisement. If he is satisfied with the company he will recommend it to his friends and acquaintances.

Since the existing customers are familiar with the process, it will take less time and money to educate them about the procedures putting fewer burdens on employees also and making them feel more satisfied with their jobs. The customers are divided into groups based on their loyalty. This procedure is known as relationship ladder of customer loyalty. The groups in ascending order are prospects, customer, client, supporter, advocate and partner.

Due to the advancement in computers and Internet, software has been developed to facilitate customer relationship management. With the help of this software the tastes, activities, preferences, and complaints of customers are tracked. Almost all the companies have this software in their marketing strategy, which benefits the customer as well as the company.

Thus the main aim of relationship marketing is to construct and maintain relationship with committed clients who are meant to bring profit to the company. The other benefits achieved are confidence building and social benefits.

Anonymous Visitor Marketing

Thursday, May 6th, 2010

Anonymous visitor marketing or anonymous user marketing is nothing but changing the content of the website according to the taste of the visitor and thus making the information more relevant. Some kind of data is attached with each user known as metadata or supplemental data that is similar to human sensory nerves and gives an idea about how to react to the approaching person.

Metadata or supplemental data consists of information like the geographic location, IP address, browser languages like English, Chinese, German, etc., and also information about domain extension like .edu, .gov, .mil, etc., internet connection speed, operating system, search keyword or sentence, referring URL and screen resolution.

Graphical location tells about the approximate address of the visitor. By this information, the server can search and display information which is specific for the people of that location. Information like climate, temperature, local happening, and time can be displayed accurately.

IP address or Internet protocol address gives idea of the specific Internet service, company the person is related to. If belonging to an Internet provider the web page displays the speed of the connection and if related to a specific company the website displays the name and logo of the company.

A web page can be formatted in different languages. By analyzing the browser language, the visitor can be can be served with a web page which is easy for him to understand and the visitor is made to feel that the website is centered on his mother tongue which will make him more comfortable.

Different organizations and different sectors have different domain extensions. A website with a .gov extension means that its a government website and a website with .edu extension refers to an educational organization. So the content of the webpage can be changed according to the organization the visitor is related to.

Depending on the Internet connection speed if there are any multimedia downloads the size of downloads can also be managed. There will be different resolution versions of a particular download and if the speed is low, multimedia with the lowest resolution will be downloaded to the visitor’s temporary Internet files. This will not interrupt the normal working of the computer.

Different operating systems have different requirements and their functionality also varies. Some websites provide downloadable software and updates which will not be compatible with all kinds of operating systems. These limitations can be determined without interrupting the user.

Search keyword or sentence can be utilized to apply search engine optimization techniques or SEO techniques to the website to make the matter more relevant. Linking data to a specific keyword, which is displayed automatically making the visitor feel that his query was dealt with effectively, does this.

Referring URL helps the sponsor to compare data with that of the previous page and bring it on the present page. This increases the competition between the websites, the present website will try to prove to be better than the previous website.

If the visitor is surfing the Internet with his hand held device or mobile, the content of the website is trimmed to fit the screen resolution of the device. If the amount of data that is viewed on a normal monitor is displayed over the hand held device, the data will overlap with each other and the content won’t be readable.

Creating a Corporate Image

Wednesday, May 5th, 2010

For any corporation it is very important to create a distinct image in the market. This is known as Corporate Image which distinguishes the corporation from its competitors and provides a picture of it to the general public. It depicts the principles, beliefs, productivity of the company. This image is responsible for increasing the sales of the product and to achieve brand equity. Corporate image creation is a strenuous and time consuming process and is carried out by experts qualifying in perception management. Basically, the creation involves marketing experts who used various kinds of promotion methods and public relations. Since this image is targeted to attract the customers it should be highly appealing. Besides the marketing experts critics play an important role too.

The name of the corporation and its catch line should reflect its belief like Wal-Mart, which says that it sells for less. A logo should also be designed accordingly. Like the corporation FedEx has an arrow incorporated in its logo which depicts its fast and efficient service. Once the image is created by the corporation the next step is advertising and product distribution in the market. Like if the corporation creates luxury products, they should rope in big names in the advertising experts and the models to be featured in these ads should be super stars. Likewise, they should not distribute their products to every other store; instead they should target more hi-fi malls. Time to time, advertising and branding budget should be reviewed to cut down on cost and to be in-sync with the technology. This also helps in revamping the corporate image according to the fast changing demands of the consumer.

Testimonies of news papers, magazines, and labor union can deteriorate a well-created corporate image. Simplest of controversies can be exaggerated by the media and spoil the name of the company. Controversies are born by the interference of organizations related to environment, religion, crime, politics, education and charity. Government, too, is another powerful and influential organization by itself.

Once the corporate image is created, it should be retained. It should not be like here today and gone tomorrow. This image should be reflected in all the brands and product line of the corporation. Even if one of the products isn’t up to the mark, it will lead to confusion among the consumers and will hit the sales of the company. Like recently there was controversy about a particular contact lens solution of a company. It was supposed to be infecting the users with a rare disease. This not only affected the sales revenue of that particular product but also made the customers think and raise question about the authenticity of other products of that particular company.

Another company’s products had hidden non-vegetarian ingredient in a vegetarian product. This led to the decrease of trust among the customers. In such a case the company should either advertise itself as a company selling non-vegetarian food or it should invest in promoting the company as vegetarian by introducing more vegetarian products. So the image of each individual product of the company makes up for the complete image of the corporation. And last but not the least, the image should be very realistic, truly representing its values and should leave a personal touch with the consumers.

How to write a winning sales letter?

Tuesday, May 4th, 2010

Writing a sales letter is tough and writing a winning sales letter is even tougher. Many sales managers break their heads thinking why they can’t get it right. Well, to answer this question they should put them in people’s shoes and ask what “benefit “would I get by reading this sales letter? Remember that word “benefit” which is the crux of this discussion. Many sales people take bits and pieces of information from here and there and create mess out of a sales letter. They literally throw everything on people and then get what they deserve, instant rejection.

One should always remember that a sales letter works only when you have a product to sell and an offer to make. A sales letter should not be an introduction of your product or company. Remember every word is important in the sales letter and do not waste a single one which would distract your potential customer’s attention. They are not interested in the features of you product but an offer or a benefit to them. Think from the customer’s point of view and ask yourselves why should I read the letter? Is there any benefit or offer to me which cannot be refused? Can you convince me that it is really a good offer?

After keeping in mind these things, sales managers should apply thought in presenting their letter. The header or the headline is very crucial to any sales letter. It should target directly to the customers of your product. One also needs to be little tactful in use of words. But if you are not good at the trade do not attempt to do it and rather be simple in writing it. The headline should not be more a line, so try to be as specific as possible but with maximum affect. Nobody has time to read each and every letter in this fast paced era of instant satisfaction. If you are not able to convey your message to the audience in stipulated time, then you have lost those customers. The headline should start with a benefit being offered to the customer. This ensures that the customer goes to the body of the letter at least.

Now, having made a good effort with the heading, it’s the time to work on the body of the letter. How to maintain the level of enthusiasm that you created in the customer’s mind with the heading? Once again it is important to remember to not to focus on features of the product you are trying to sell but on the benefits and offers you are making to them. Things like how much money it is going to save them and how it would affect their lives should be mentioned in the body of the letter. Make them realize a need for it and compare it competitor’s product. Remember, a person reading your sales letter will constantly get questions in mind as to how this will benefit me, after each and every sentence. So be ready to clear those doubts and answer the questions. Being little informal in the approach wouldn’t do a harm and try to grab the attention by relating things to real life things. You can add a little bit of humor but unless you are sure that it won’t be in the bad taste of the reader. Bring in few previous clients to give testimony of your products. But keep the testimonials believable and something that people can relate to.

Once you’ve made clear about the product, do not forget to prompt your audience to take action. If it is an email, prompt your reader to click on a link to act now or provide a contact number if it is a direct mail. Also remind them again that if you don’t act now you will forfeit the offer as the offer is for limited time only.

Once you are done with the letter, one of the important parts of the sales letter is P.S. Many people simply read the beginning and end of the letter. So, try to convey something that will prompt them to go back to the letter and read it. It will be a perfect end to the sales letter.

Marketing and Selling on Internet

Monday, May 3rd, 2010

Marketing on the Internet involves online advertising to reach out to potential customers. It requires creativity like designing, development and technical aspects like marketing and advertising. Affiliate marketing, email marketing, search engine marketing and interactive advertising are all different facets of Internet marketing. It also includes sales, public relations, information management and customer service. Ever since the advent of Internet, it is widely used for all kind of purposes. Among the advantages of Internet, some helps in doing business, shopping, etc, from the comfort of the house. According to a research, a quarter of the Internet users shop online. It has also helped grow electronic commerce and Internet marketing is a part of electronic commerce.

Direct marketing techniques like radio and television commercials, mails, and newsletters are the inspirations for Internet marketing, which involves direct response marketing strategies and is rapidly growing. Business-to-business, also known as B2B, and business-to-consumer, also known as B2C, are the two business models to which Internet marketing can be linked. B2C companies were the first to start when Internet marketing originated. They are companies that sell directly to the customers. B2B companies are meant to do business with each other.

Websites built for Internet marketing are slightly different than others. There are peer-to-peer modeled websites which are used to exchange products and services between each other. Other is name-your-price, where the customers have to specify their price range that they can spend and select products that fall in that price range. Priceline.com is an example of such a website. Amazon.com is a website which is based on find-the-best-price model, where customers can find the lowest prices. Last are online auctions sites, where items are bid. Ebay.com is an example.

The companies who use Internet marketing are at an advantage. They don’t need to put in huge amounts of energy and time in Internet Marketing like other traditional methods. With the help of only few resources national and international markets can be reached. Because of very low investment, even small businesses are turning to online marketing. Websites and blogs have been developed for this purpose. Internet marketing is advantageous in the sense that the data is easily available on the Internet. Newsletters can be directly sent to customers and if it doesn’t contain the information they are looking for, they can search for information about the product online, make a decision and purchase it online itself.

One of the factors that hinder the growth of online marketing is delayed loading of the page. The web pages that take a lot of time to download test the patience of the consumer. To add to that, if the businesses design complex web pages with lots of graphics and animations, it will slow down the speed even more. Another minus point of online marketing is that the customers cannot feel, taste, smell or try products in order to make a good decision. To over come this, some of the online stores have created liberal return policies with the help of which the customer satisfaction is guaranteed.

Another biggest threat of online shopping is identity theft. Paying online using credit cards, e-checks are susceptible to hackers and information can be stolen and used. Many hackers and websites have been caught who were involved in buying and selling of personal information. Most of the websites have taken measures and incorporated good security on their websites. One of the best methods is encryption. When the data is being transferred between two computers; there is a possibility of a hacker intercepting it. So the data is changed by applying some encryption algorithm and is sent through the network and upon receiving, the decryption algorithm is applied to bring back the data to its original form.

Online selling is influencing all kinds of businesses like banking, advertising, music, etc. Instead of going to a store for buying cassettes and CDs, music can be bought online. Bank transactions like depositing, withdrawing, transferring funds, and paying bills are all performed online. Billions of dollars are invested every year in online advertising alone.

Digital Marketing

Sunday, May 2nd, 2010

Utilizing online distributions methods to promote products is known as digital marketing. This approach is both time saving and cost effective. Digital marketing is done through items such as cell phones, SMS, MMS, instant messaging, websites, emails, banner advertisement and digital billboards.

Digital marketing involves some of the techniques of direct marketing and Internet marketing. In digital marketing traditional methods of promotions are executed digitally. It involves marketing in two forms, pull and push.

Pull digital marketing requires the user to pull or extract the content directly. The customer has to approach the promotional matter and see the matter by himself. Examples are websites, forums and web logs. All these require clicking on a URL in order to view the content. The content that is being displayed doesn’t have to follow any guidelines. Effort is required to only display the content on the website or forum and there is no additional cost of sending the information to the customer, but the customer has to make the extra effort of reaching to the content .The customer doesn’t have to opt-in for such kind of promotion and one message is being viewed by all and it cannot be personalized. The customers who see the content cannot be traced, although the click through rate can be considered which give details about the number of clicks the message received. This is be done by enabling the click though tracking during the campaign, which records the information.

Push digital marketing technologies requires the effort of both the marketer and the customer. The marketer has to push or send the content to the customer and the customer has to make the effort of receiving it. This is a very effective kind of marketing and the investments surely earn a big return as it creates brand recognition. SMS, MMS, emails, RSS podcasting are examples of push digital marketing. Since the content is sent to individuals, it can be personalized according to the intended recipient. Whether the message has been opened and viewed by the customer or deleted it can be tracked and reported. Information related to the customer such as name, geographical location could be traced. But when sending this king of message, certain criteria should be met as the SMS and emails sent are monitored. If the marketer doesn’t follow the rules and regulations properly, there is a possibility of messages getting rejected and blocked, before they reach the targeted audience and the message is considered to be spam. Bigger consequences involve marketers getting blacklisted temporarily or even permanently. The number would be blocked and they won’t be able to send any messages at all. Messages sent to the RSS feeders require a mechanism with an application to reach, when sent by an email marketing system.

Both forms of digital marketing should be used in consonance to achieve positive results. A smart marketer sends out emails along with SMS and uses multiple channels to market his products. The type of messages being sent should also be different from one another. They should not only be text, but animations, audios and videos. There is a possibility of using pull and push message technologies in conjunction like the email sent to a potential customer can have a URL or a banner ad, which on clicking downloads information. If there is enormous group of people to be reached via email, Email service providers can be hired who sends loads of emails to the customers on behalf of the marketer and they take measures so that the messages are not considered as spam.

Although much of the marketing is opt-in, federal laws, such as CAN SPAM Act, have been passed to protect the customers from unscrupulous marketers who would go to any extent to promote their products or hackers or spammers who have a bad intent i.e. like harming the computer or installing adware, spyware on people’s computers.