How to set the marketing goal? Marketing goals are SMAC: Simple, Measurable, Achievable, and Challenging*.
The good thing of online surveys sites like SurveyMonkey and others is that you can download all survey data you gathered, for instance as an Excel file.
How to use strategies? You read and re-read them, till you memorize them.
When to lower prices? Prices should be lowered in two cases only:
- When the product value cannot be any longer justified in comparison to competitors
- When we know competitors cannot match our lowest price.
Lowering prices in any other situation will cause a loss of competitiveness and/or profit.
Brands communicate in three main ways: Mass advertising, Promotions, and Public Relations.
The weight, in terms of budget allocation, placed on each way depends on the industry the brand competes in. Read more “On Brand Communication”
Differentiation and segmentation are the two pivotal elements of professional marketing.
Distribution and Price Read more “What are Differentiation and Segmentation?”
For instance, all brands in a market invest $100 Mio. yearly in communication. Read more “What is Share Of Voice?”
How to think strategically – Words without a clean and unique meaning, like good, great, best, quality, just to mention a few, should be banned in business and they should never be used in strategic documents.
Replace them instead with meaningful terms. The question to find an answer to is: Read more “How to think strategically”