Marketing & Strategy Articles

The Digital Age is a historic period in the 21st century characterized by the rapid shift from traditional industry that the Industrial Revolution brought through industrialization, to an economy based on information technology and finally, to the digitally transformed world that we are in right now. The world is more competitive than ever, there is more scope for R & D, and not to miss out, building something new. Customers remain the focus but a lookout for digitally driven approach would be the new game changer.

Marketing is an ever-evolving field where companies and brands use all possible media channels to reach out to potential customers. Popular advertising media includes having TV campaigns between shows along with prime-time slots. Newspapers & magazines are popular ways to use print media to advertise about one’s products and services. However, all these are advertising channels are not too modern and are pretty old school. With the increasing penetration of smartphones and high-speed data internet, online platforms are popular media tools to advertise. Online advertising can be done on website as banners or on mobile apps. Since a lot of people are engaged with their phones, there is a big opportunity for companies. However, one of the newer ways to engage customers is by live video streaming content.

Base of the economic pyramid provides a great opportunity for any start-up to come up with an innovation as it is easy to find lot of untouched segments in it. A simple solution for a basic problem will make you a hero in this segment. In spite of such huge opportunities why are the big giants not tapping their innovations into this segment is a debating point here. One of the biggest hurdles here is how you make your innovation reach to larger set of customers. In other words, are there enough means to make your innovation visible to people in this segment and attract them to use your services or product? The answer to this question is definitely a starting point for any Start-up to innovate in the base of economic pyramid.

A lot of people feel that if a product is good, it will serve the customers well. A high quality offering which is decently priced is good enough to lure customers. This is the philosophy behind several technology and software startups where they user their creativity and skills to offer a more polished product or service. But in hindsight, it is not the only recipe for success. Thus it is critical for business people to have a thorough understanding about sales and marketing.

E-commerce, a term which has made its presence felt in really short span of time, is an act of performing the commercial activities of selling and purchasing through technology over the internet. E-commerce industry has grown manifolds during last decade because of large penetration of internet, smartphones, strong network and increasing consumer wealth. 71% of the total number of shoppers worldwide in 2017, believe they would grab a better deal online with a better overall experience compared to shopping in high street stores.

A customer visits a store to buy a pair of jeans. While at the store, the customer realizes that the XYZ store has about 10 varieties of jeans from ankle length, straight fit, high waited, etc. At this juncture, the salesman, who has already comprehended the great dilemma that the customer is in, explains to her the type of fit each pair will have, what are the ideal situations one must wear the respective pair of jeans and what looks good with them.