Product Pricing: Back to Marketing Basics

pricing

Product pricing is a rather thorny issue that most of us deal with from time to time: How much should I charge for XXXXXX? Charge too much and potential customers avoid your brand; charge too little and you’re leaving money on the table. But, how to you figure your product pricing — especially for a […]

What’s Your Unique selling proposition?

unique selling proposition

Do you even know what a USP is? It’s a Unique Selling Proposition and without one, your business is fighting an uphill battle for survival. Why worry about having a unique selling proposition? The key to effective selling in this situation is what advertising and marketing professionals call a “unique selling proposition” (USP). Unless you […]

5 Easy Steps to Successful Brand Marketing

unique selling proposition

First, let’s take a look at brand marketing so we’re all on the same page. Let’s start with, what is a brand? According to the American Marketing Association, a brand is: name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of […]

Back to Marketing Basics: 9 Options for Sustainable Competitive Advantage

sustainable competitive advantage

Continuing our series on “Back to Marketing Basics” today we’ll discuss sustainable competitive advantage. First. let’s define competitive advantage. According to Wikipedia: Competitive advantage occurs when an organization acquires or develops an attribute or combination of attributes that allows it to outperform its competitors. These attributes can include access to natural resources, such as high […]

Category Marketing: Getting Back to Marketing Basics

product categories suggest appropriate strategy

I read recently that JC Penney is having problems converting the retail success of its new CEO, Ron Johnson, formerly the head of Apple’s retail monolith.  In fact, Forbes reported losses of $203 Million in just the 3rd quarter and a drop in same-store sales (a barometer for retail health) of over 26%. Analysts blame […]

Mysteries and Myths of Millenials in Social Media

millenials and social media

As a marketing professor, my days are filled with Millenials who challenge many assumptions shared by older folks.  But, who are Millenials? And why should we care about them? And, how are Millenials affecting marketing, especially social media marketing? Who are Millenials? Millenials are the tail end of Generation Y (or Gen Y), the cohort […]