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Brand extensions, which are a popular means of
introducing new products to the marketplace, fall under the ‘One brand all
products’ type of brand strategies. In a typical brand extension
situation, an established brand name is applied to a new product in a
category either related or unrelated, in order to capitalize on the equity of
the core brand name. Consumer familiarity with the existing
core brand name aids new product entry into the marketplace, and
helps the brand extension to capture new market segments quickly.
Brand extensions come in two primary
forms: horizontal and vertical. In a
horizontal brand extension situation, an existing brand name is
applied to a new product introduction in either a related product class, or in
a product category completely new to the firm.
A vertical brand extension,
on the other hand, involves introducing a brand extension. In a
vertical brand extension situation, a second brand name or
descriptor is usually introduced alongside the core brand name, in
order to demonstrate the link between the brand extension and the
core brand name (e.g. Marriott Hotels, Courtyard Inn by
Marriott). Although a brand extension aids in generating consumer
acceptance for a new product by linking the new product with a known brand or
company name, it also risks diluting the core brand image by
depleting or harming the equity, which has been built up within the
core brand name. An inappropriate brand extension could
create damaging associations, which may be very difficult for a company to
There are two types -
Product form extension: Product launched in a different form
usually means line extension rather than brand extension. But if different
product form constitutes entirely a different product category from customer
behavior perspective, it would be called brand extension. For e.g. liquid milk
and dried milk may not be perceived as the product category. Similarly
chocolate bars and chocolate powder belong to different product categories.
Amul Milk à
Amul Condensed Milk
Brand extension is in the form of companion products is perhaps the most
common. The idea perhaps is to capitalize on product complementarily. The
consumer may view both products jointly and hence, provide scope for launching
Colgate Dental Cream à Colgate Tooth Brush Source: Webpage
Social media marketing refers to the process of gaining traffic or attention through social media sites. Social media itself is a catch-all term for sites that may provide radically different social actions.
Use social media marketing to listen, analyze, publish, and engage across networks. Align your marketing, customer service, and sales efforts on social — strengthening customer relationships.
Listen and analyze.Hear
conversations from over 650 million different sources with social listening
tools. Discover what consumers are saying about your brand, your products, and
your competitors. Discover trending topics and influential conversations — then
use that information to inform your marketing decisions. Plan and publish.Plan,
execute, and track social media marketing campaigns. Customize and craft your
content from multiple sources, while protecting your brand with configurable
approval rules and a full audit trail. Manage social strategy, tailor
campaigns, and drive social awareness…
The Origin of Digital-Marketing: The term 'digital marketing' was first used in the 1990s. In the 2000s and the 2010s, digital marketing became more sophisticated as an effective way to create a relationship with the consumer that has depth and relevance. While the term 'digital marketing' may not have been used until the 1990s, digital marketing itself has roots to the mid-1980s when the Soft Ad Group, now ChannelNet developed advertising campaigns for several major automobile companies, wherein people would send in reader reply cards found in magazines and receive in return floppy disks that contained multimedia content promoting various cars and offering free test drives. The rapid evolution of digital media has created new opportunities and avenues for advertising and marketing. Fueled by the proliferation of devices to access digital media, this has led to the exponential growth of digital advertising. In 2012 and 2013 statistics showed digital marketing remained a gro…
Digital marketing technology helps you understand and reach your audience most effectively so you can generate the most revenue. For advertising campaigns, ad serving technology makes it possible to serve the right ad at the right time to right person. That means your advertising is being as productive as possible. When technology is working for you, you’ll understand your audience at a whole new level, and it will show up on your bottom-line.
NEED FOR THE STUDY The
pace of change in today’s business environment is faster than ever. New markets,
technologies, and opportunities are arising on a daily basis. Current ways of
doing business need to be adapted or they will become outdated. Organizations
and enterprises have to become agents of evolution to be successful; as victims
of evolution they risk failure. With so many dynamics operating in the global
economy, Digital Marketing is now more than ever an effective tool to make a
company stand out from the pack.