Buzz marketing involves creating a trend among people through word of mouth to generate sales for a product. In other words, markets create a “Buzz” among target audience and spread through word of mouth and generate sales for the organization. As an example, if a celebrity wears a certain branded clothing and attend a public gathering, that will create a buzz among fans of that particular celebrity and it will spread among customers by word of mouth instantly. Buzz marketing is a [...]

As discussed earlier viral marketing is a form of word of mouth marketing which is carried out using online means. (Click here for the Introduction to Viral Marketing) Viral marketing is practiced by business organization who are engaged in e-commerce and many organizations have become a success stories by using viral marketing strategies. Hotmail.com is a the best example that can be quoted. Hotmail provided free sign up for users who were interested in obtaining an email account and they were [...]

Viral marketing is a form of word of mouth marketing where it uses the online means to promote a product. In other words, viral marketing uses internet to spread the message of product like how a virus is spread among computers which are networked. As an example, if an email message is sent passed to few audience from the target market they may forward it to others who have similar interest and the forward chain will keep [...]

CRM can be defined as a frame work to identify, attract, satisfy and retain profitable customers by managing effective relationships  in order to achieve increased and guaranteed profitability. This is where the company focuses on building long lasting relationship only with profitable customers by giving financial and social benefits. And also CRM advises firms to ignore unprofitable/less profitable customers and focus only on high profitable customer who will have long term relationship with customers. Role of the marketing has [...]

Segmentation refers to “the identification of likeminded clusters of consumers who can be expected to behave in similar ways, making similar ways decisions in the marketplace in similar situations.”  When it comes to fitness products, segments can be based on gender, age, physical ability of the consumer and the income level.  Segmenting market should be done according to the STP process and thereafter develop a suitable marketing plan to deliver expected benefits. Segmenting the market [...]

Product Position is defined as “the place the product occupies in consumer’s mind in relative to competing products”. Companies use product positioning to capture market share and preserve it by occupying a place in the mind of the consumer.  After a firm acquiring a certain place in the mind of the consumer it would be harder for competitors to capture that position. This gives the advantages of preserving the market share, brand loyalty and strong [...]