Hello everyone, hope you are staying warm! Denver's having a freezing day of -10 degree F. For those lucky ones who have snow days off, FiG says "Stay warm indoors!" For the others who have to go out today, FiG hopes you dress warm and drive safely!
No matter what product you sell or what service you offer there are millions of examples of once prominent and admired brands that have fallen or even disappeared, especially in hard times like right now. Nevertheless, there are also a number of brands that have managed to come back successfully in recent years. Old Spice, for example, one of my favorite brand stories about how a grandpa deodorant becomes one of the sexiest brands overnight!
I believe we all agree that the marketing environment has been evolving and changing. This situation will continue, and usually in very significant ways. Changes in consumer behavior, innovative technology, government regulations, competitive environment and the firm's own strategies can greatly affect a brand's image, meaning, and other aspects of a brand's equity. The challenge of effective brand management lies in the proactive strategies to at least maintain, if not enhance your brand's value. FiG will spend the next 2 weeks discussing some brand strategies to reinforce brand meaning and adjustments to marketing programs to identify new sources of brand equity.
There are many ways to promote your business. Advertising is one of the most efficient ways, but only if you choose the right avenue; otherwise you will find yourself burning money fast. Which media should you choose for Advertising? That's the million dollar question! Here's how to choose where to advertise:
Last time, we discussed how to find your niche. This time we'll discuss how to keep your niche from rivals. Once you discover your business niche, in this quickly developing competitive environment, you have to protect it.
The holiday season is always exciting for marketing folks, and the holidays are one of the best times to market your business. In fact this season is a goldmine, if you know what you're doing. Is your company ready this Christmas? Let's talk about what a company needs to do at this time of a year.