In modern marketing strategy, a large focus is placed on acquiring new customers. In fact, a recent research survey showed that 72% of small businesses planned to use the majority of their marketing budget to try to attract new customers as opposed to marketing new benefits and products to their existing customers1. However, expanding a company’s customer base does not always equate to business growth. Recent studies have shown that building loyalty with existing customers is equally important, as existing customers tend to be more profitable.
Category: Chapter 8 – Build the Brand
Shifting Tastes in the World of Wine
While there are often strict regulations surrounding the sale of liquor, beer and wine sales are more lenient. That’s an entire audience of consumers who might prefer higher alcohol content and the accompanying burn but who cannot purchase their drinks of choice as easily as they might purchase a bottle of wine or a six-pack of beer.
Many wineries have begun to capitalize on this, repositioning themselves through product and process alterations. How? They’re aging their wines in spirit barrels.
A Socially Conscious Shave
It seems more and more brands are trying to stand out by showing consumers they care about their social issues. (Perhaps they read this previous Marketing Management article) Gillette’s new ad campaign made headlines, and […]
Weighing in on Wellness
January is the time of resolutions, many of which are fitness based – unfortunately for routine gym goers. This past week I circled several times to find a parking spot at a normally low-volume hour, […]
What’s In a Name
In the past two weeks, two major brands have announced brand makeovers that go as far as changing their names. Dunkin Donuts recently announced it will be dropping the word Donuts. They’ll still sell the […]
Nike Dreams Crazy
Odds are you heard about Nike in some capacity last week. They announced their 30thanniversary Just Do It campaign, starring former 49ers quarterback Colin Kaepernick. Odds are you’ve heard about him too – in 2016 […]
Ikea Shifts Its Marketing Strategy
If you’ve ever been in an Ikea, you know it can feel more like a museum than a department store. Yellow lines on the floor navigate you through living pictures of bedrooms, kitchens, offices, etc. […]
Thoughts from Google Marketing Live Keynote
In July Google held a conference and livestream where it announced upcoming innovations in all things Googley. Speakers across various marketing specializations focused on three themes: value, transparency, and trust. But if you listen to […]
Global Branding: Guinness Plans to Open First U.S. Brewery Since 1954
There are not many beers that are quite as iconic as a Guinness. The Irish stout, which any beer aficionado knows requires a very particular pour in order for the “storm” or surge to settle […]
“Mass Disruption”: What P&G and MasterCard Have to Say About Current Marketing Trends
The face of marketing is rapidly evolving. This is no secret. Companies of all industries and sizes from social media, to startups, as well as the bigger players are learning that it’s time toss out […]