This is a marketing strategy or mentality adopted by tech-savvy companies like Amazon, Uber, Netflix and also by companies such as Nike in order to provide their customers with a personalised service experience on multiple platforms. This method also involves reducing the response time involved in replying to a customers request or grievance call, not only does this help the companies stay relevant to their customers but also fosters new business opportunities. Read More>>
Derek Rucker, a professor of marketing at the Kellogg School, and PhD student Rebecca Krause were intrigued by the fact narratives that help as a powerful tool for persuasion sometimes backfire to a great extent, they further studied the link between narratives and persuasion and understood that in many cases the reliability of the facts being used in telling a story is the deciding factor , If the facts are very strong it is better to convey them directly in the form of lists rather than narrating them. However, the advantage of the story is that it can hinder the listener’s ability to process facts and you could get away with flimsy facts. Read More>>
1. Keep the pitch short and Focused:
Timing is crucial so take lesser time to pitch to make it better.
2. Turn your Pitch into a story
This is the best way to captivate your listener’s attention.
3. Explain exactly what is unique about your product or service:
Go back to the drawing board, if your product or service is not unique compared to the one already in the market.
4. Explain who your target audience is:
Use Demographics and psychographics to pinpoint your target audience.
5.Explain how you are going to obtain these customers:
Proposed Marketing/campaigning ideas, technique and methods to be included in the pitch.
All online shoppers are becoming familiar with algorithms tailored to be the perfect salesperson. With the rise of AI and machine-learning in e-commerce, algorithm-driven personalisation of the customer’s experience is becoming crucial and deternmining the role of Ai in economy is very important. Indeed, using AI to define a marketplace can be messy as some purchasing pattern variants depends on unstructured data such as customer’s reviews, so it is important for entrepreneurs to understand the economic sturcture of the problem when applying AI to solve it. Jack Chua, Direct of Data Science at Hotwire shares 3 tips for a succesful implementation of algorithmic business solutions. Read More>>
The magazine “Outside” partnered with ‘The North Face”, VR tech and the firm “Jaunt” to distribute “the North Face Nepal”, a VR immersive film that follows Renan Ozturk through his journey in Nepal. Read More >>
While establishing a brand, naming it is crucial as the name is a short ad campaign for your product and can determine how successful it will be on the market. So, how to find a name that will resonate with the customers and help you build an empire? Paul Earle discuss strategies attached to product relevance, emotions and marketablity that can help you find a brand name that works. Read More >>
Neuromarketing uses advanced technologies to measure involuntary human response, like this acquiring a purer idea of what the customer will prefer. Through majoring brain region activity, it is possible for even non-scientists to use neuromarketing tools. Six commonly used technologies are helpful to understand the strengths and weaknesses of neuromarketing. These are : Functional magnetic resonance imaging (fMRI) which measures blood oxygenation in the brain; Electroencephalography (EEG) which records changes in brain activity; Function near-infrared spectroscopy ( fNIRS) which uses light that penetrates scalp and brain tissues; Eye-tracking devices which measures consumers visual attention; Skin conductance response (SCR) which captures the changes in skin electrical resistance and lastly Facial affect recording (FAR) which analyses facial muscle configurations. Read More >>
To develop an efficient marketing strategy, it is important to understand what the customers want and how the company can create value into their product better than the competition. The goal is to a better sense of what the customers want than your competition, and even the customers themselves: this is customer insight. To achieve superior customer insight, five different simple steps are recommended. These are: interacting personally with the end user, spend “quantity time” with the customer more than your competitor, watch customers buy your product, watch customers use your product and lastly engage end users as product designers. Read More >>
Marketing researchers have explored many factors that influence the customer’s decisions while choosing a product over another. Some such as personality traits or how ads frame a question are a bigger focus than others, such as how your surroundings affect your decisions. Indeed, in Ati Jami, research assistant professor of marketing at the Kellogg school stipulates that things in our surroundings that seem irrelevant to the decision can still influence our choices. New studies focused on viewing images reveals that high elevation can push people to take more risk, suggesting that high elevation make us feel more in control. But these images are not suitable for every situation and marketers should test different viewing images to gauge the customer’s reaction. Read More >>