Experiential marketing is a marketing tactic where the customer is given chance to experience the product and resulting emotional reactions makes him purchase the good. In other words this is where the customer is asked to experience some aspect of the product/ sense the product at a free of charge and if s/he likes it they will engage in purchasing the product. Experiential marketing is practiced mostly in the FMCG (Fast Moving Consumer Goods). Typical [...]

Market segmentation is all about identifying customers who share similar needs and satisfying them rather than trying to satisfy the all the customers in the market. [To read about introduction to market segmentation click here] As the second stage of the segmentation strategy we need to assess the viability of the segment. Marketers need to assess the effectiveness of  a chosen segment based on following criteria: Measurable The size of the chosen segment has to be measured in [...]

The invention of the Internet has led many businesses into a world, where virtual communication with customers may be the only communication available to them. Customers go to business websites to search for information, contact the business and place orders for products or services. So basically organizations at present are only a few clicks away from its customers. This reality makes it absolutely crucial for various organizations to maintain standards and up to date information [...]

There are many approaches to valuing brands and firms can choose either one of them in brand valuations depending on information availability and suitability. Approaches to value brands are described below: Add up all the research and development and marketing expenditure incurred during a period to build the brand- This a common way of brand valuations but it has many faults such as difficulty in allocating expenses to brand (uncertainty in identifying whether expense was incurred to [...]

Branding involves complicated decisions to be made and financial management aspect of a brand can be explained as follows: Indicate in balance sheet as an intangible asset of the firm- Brand generates income for the firm and cash flows can be generated in the future as well. In other words brand is considered as a source of income to the firm which is an asset to the firm. And also building the brand has consumed funds of the [...]