Product Oriented vs Market Oriented Marketing

Marketing can be characterized as the organization fulfilling client and market needs by creating value through communicating and working with client. Different businesses have different types of marketing strategies. Business can develop new products considering either a market orientated or a product orientated approach as it attracts customers by satisfying their needs and demands rather than trying to push buyers with sales. In today’s competitive world it is vital for a business to carry out a thorough market research before implementing any strategy. This article will revolve around two strategies – market and product orientation along with its importance and leading factors that must be overlooked before making any decision.… Read the rest

Co-Creation of Value in Marketing

Back in 1953, Neil Borden introduced the concept of Marketing Mix. In 1960, it was classified into 4Ps – product; price; place; and promotion – in 1960 by Professor McCarthy. Product can be either physical or service; Price is dependent on its value; Place refers to distribution of; and Promotion refers to communication related to marketing of the product.

The concept of ‘4Ps’ was mainly used in the past when physical product was dominant in the market. There are two main limitations of the marketing mix – common in all examined domains: (i) a model’s internal orientation; and (ii) lack of personalization.… Read the rest

Co-Branding – Meaning, Strategies and Benefits

Nowadays, one of the highly valued assets for a company are its brands, with branding being every company’s top priority. But it often costs the companies huge amount of money and takes them a long time to build their brand. Today’s market is suffering from a syndrome of sameness where all the products offered to the customers look very similar both in terms of sameness in the physical brand element and in the symbolic value proposition offered to the market. Thus it has become difficult to establish a unique position for new products with markets cluttered with competing brands. Even innovative differentiated products can be imitated quickly, leaving no strategic edge.… Read the rest

Promotional Pricing – Meaning, Types, Advantages, and Disadvantages

Marketing includes a very important concept that is marketing mix; it has four major components that are promotion, people, price, and place. Nevertheless, in the marketing mix after the product, the second most important factor is the kind of price that is being used. This is because the distribution and the promotion mix can be modified by the kind of pricing being used. It can be an enormous job to set up the correct price for products and services while establishing a new company and it could be equally for a company that has a year of existence on the market.… Read the rest

Importance of Sound in Branding

The impact that sound creates on anyone is profound. Sound being one of the major five senses plays a vital role in everyone’s day to day activities. In a country like India, which has an extensive oral culture where even a form of medication has been passed on to the next generation orally; sound is something that matters to every single soul in one way or the other. Sound is prevalent in almost all traditional forms in India ranging from festivals to discourses. In a vast country like India, each state has its own culture and each culture has its own representation of sound in its own unique ways.… Read the rest

Application of Nostalgia Concept in Marketing

The historical term of nostalgia, initially started as a medical term. The term was coined in 1688 by Johannes Hofer (1669–1752) in his Basel dissertation to refer on ‘homesickness’. Homesickness was one of the most serious sickness during that time. The term of “nostos” which means return and “algos” which means pain, were introduced to described people that suffering pain because of being far away from home and have needs to return to their home. 

Subsequently, the term ‘nostalgia’ evolved, and moved away from being a disease. Nostalgia known as a term that refer to time: past, present and future. In order to be classified as nostalgia, there are four factors that need to be fulfilled:

  1. An emotional feeling of being lost in space and time.
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