Category: Marketing
Authenticity and Essentialism are Innate Desires
The world is filled with duplicity. Knock-off has become a term that means the same, but different in terms of quality and price. By nature humans want to be original since every human is an original creation that can not be duplicated in terms of thoughts, beliefs, and energy.
Consumers want to buy original products that present an image of uniqueness as well as quality and value and theres no better example than Rolex watches when it comes to proving that humans innately want to express their own quality, value, and uniqueness through the goods and services they purchase.
Rolex Watches entered the world of Horology in 1905 when Alfred James Davis and Hans Wilhelm Wilsdorf founded Wilsdorf and Davis Ltd. Wilsdorf created three watches that passed rigorous accuracy tests before the company was formed so it was a natural step to start a watch company with his English partner Davis who was his brother-in-law. The company became a family affair and they registered the name Rolex in Switzerland in 1908 even though that name had no real meaning other than it was easy to spell, easy to say in various languages, and easy to remember in all of them.
In 1915 the company was officially renamed the Rolex Watch Company and it finally became Rolex SA which is the driving force behind today’s successful marketing program.
By 1945 Rolex Had Established Its Manufacturing Prowess
During the 1920s and 1930s Rolex carved a luxury name for itself by receiving several awards for precision and quality from four renowned observatories: Geneva, Kew, Besancon and Neuchatel. A chain of internal events took place before the Second World War and they also had a significant impact on the evolution of luxury Rolex Watches.
The famous Crown or Coronet logo was trademarked in 1925 and the name Rolex began to appear on the dial in 1926. The company also changed the design of its case and began using hermetically sealed cases designed by the Swiss craftsman Francis Baumgartner. These new cases made Rolex Watches almost waterproof.
Wilsdorf also bought the patent for a new moisture-proof winding system in 1926, and that addition produced the Oyster, which was the first watch with a waterproof case. The oyster was worn by an English swimmer who swam the English Channel in 1927, and the impetus from that marketing campaign set the stage for future luxury marketing tactics.
Rolex watches were marketed and advertised as wonder watches. The company made improvements in the Oyster which increased its status. It was the first watch to be called waterproof at 100 feet under water. That feat made it a watch rock star almost overnight.
The pricey Prince was introduced in 1928 and it is still a popular style today for men who want to express their innate uniqueness and material success. New adjustable six position balances were also introduced in 1928 and in 1932 the company introduced the self-winding feature. In 1935 the Super Balance was introduced to improve the design of its Auto Rotor.
In 1935 Rolex acquired the exclusive rights to Aeglers movements and that was a strategic move that allowed the company to focus on the US market. In 1937 Rolex introduced the first chronograph wristwatch. British pilots wore the Rolex Oyster during the war to signify their excellence and success. After the war the company gave every British prisoner of war a new Rolex since they lost their originals to their captors. Those replacement watches didnt have to be paid for until after the war and that move turned out to be an incredible marketing tool.
Rolex Still Sets a High Marketing Bar
Rolex is still launching new watches and unique marketing campaigns that emphasize quality, prestige, and individuality. The company produces over 2,000 watches a day and is ranked in the top 100 global companies by Business Week Magazine. It holds the top spot for among all watch makers in terms of product recognition, perceived quality, and creative design features and functions.
Tradition meets innovation and Rolex uses that philosophy to create a luxury watch marketing campaign that continues to break price barriers. Their marketing campaign is rooted in authenticity and essentialism as well as the rich heritage of quality timepiece manufacturing.
Marketing environment is made up of all the factors and forces that influence marketing. These forces can be internal like departments (other than marketing such as finance department and human resource department) or external like competitors, suppliers, economic or political situation. To understand them better, marketing personals divide them in two categories namely macro environment and microenvironment. Lets have a look at some of the important factors involved in marketing environment.
Internal factors:
All the departments involved in business management affects the process of marketing as well, for example the finance or research department in large enterprises. Marketing department is bound to keep their expenses under the budget set by the finance managers or to consider recommendations from the research department. Similarly the supplies and collections can have an impact on marketing as well.
Customer markets:
Different types of customers markets include consumer markets (B2C), business markets (B2B), government markets (B2G), also a new type of customer market has emerged as a result of globalization i.e. international market. Where most other departments will treat these markets similarly, marketing team has to treat them all in different manner. Though most advertising campaigns are targeted to consumer market, the type of customer market does affect marketing decisions on the whole.
Competition:
Competition is becoming more and more influential in a company’s approach towards marketing. Competition stems from the business that is offering the same product as yours. A business has to counter this competition through marketing; some times businesses do try to have a hit at their competitors in advertisements (though not candidly). The level of competition is also a decisive factor when planning on how much to spend on marketing.
Different types of publics:
Another important microenvironment factor is the publics (government, consumer associations, financial or media publics). All of them can have an affect (positive or negative) on company’s reputation and marketing.
Demography:
Good marketing managers tend to spend plenty of time in conducting demographic research for their targeted consumers. Demography is the research of gender, age, race or anything else related to consumers. International businesses are concerned about various races (Asians, Hispanics, etc) and their different set of demands. While the terms like “baby boomers” or “generation X” were invented to reflect the specific age groups of consumers.
Economic Factors:
All the variables of economic markets like inflation, rate of exchange, fiscal policies and monetary policies fall under macro environment factors. They affect all businesses, and needless to say their marketing efforts as well.
Other Factors:
Other notable macro and microenvironment factors are marketing intermediaries, political stability (or instability), new technologies or natural forces.
Why did Nokia decline? The most nonsensical argument is that Nokia is too far away from Silicon Valley and it lost the ability to innovate and lead innovation. It can also be said that Nokia failed due to the continuous blow of Apple and Google. Especially Apple has rewritten the golden age of the traditional mobile phone manufacturers represented by Nokia.
Of course, this does not mean that Nokia will surely perish in the short term. Nokia will not get out of the Chinese market. Nokia can not be acquired in a short-term. However, Nokia’s decline has a variety of reasons. The only one that does not have to bear the important responsibility is probably Nokia’s marketing, especially China’s marketing team.
Nokia’s marketing has been very powerful. Whether channels or activities, whether endorsements or advertising, Nokia’s marketing and innovation are world-class. New Year’s Eve concert, superstar strategy, advertising campaign and the innovative application of Internet marketing, Nokia’s marketing throughout the industry is in the lead.
It is pity that Nokia who understands social media marketing is abandoned by the user. Even Nokia itself has given up Symbian and switched to Microsoft camp. The reality is so cruel. You may have not committed anything wrong, even always a plus in marketing, but the situation is hopeless. No matter what kind of marketing ideas and deeds can not change the decline of the Nokia product line.
Nokia’s decline is not much related with marketing, but Nokia’s case was enough to alert all the marketing people. Marketing is not everything. There are things more important than marketing, such as products.
Nokia’s has an absolute advantage in technology innovation. But the efficient operation of the corporate culture and cost control has become a stumbling block of innovative thinking. Nokia discarded the touch wave, just because it takes into account the risk of the high cost. It is reluctant to give up the lagged behind Symbian system early.
Although Nokia has seen competitors continually erode their market share, but Nokia is still reveling in the industry leader position in the past few years. When the rise of Apple and other smart phone threat and gradually replace its position, Nokia was awakened and rushed to find partners like Microsoft. Nokia today have lost even the hope of turning over.
Analysts of the industry say that technology innovation is the key factor of mobile phone manufacturers. Marketing is not everything. The products and technology innovation play a more important role.
You may or may not know that Internet marketing is available for a fraction of the cost of traditional marketing. In addition, the Internet allows you to display a plethora of information to potential renters like: pictures, maps, unit sizes, prices, and specials. In fact, you can even give customers the ability to rent instantly (if this feature is available on your website)! Internet marketing is flexible, meaning you can quickly and easily change your ads throughout the year. And arguably the best aspect of Internet marketing is that traffic, consumer patterns and behaviors and the actions these people take can all be tracked and monitored – making it easy for you to evaluate its effectiveness.
Because this topic is still new to some of you in the industry, I wanted to share the terms most commonly used when talking about Internet marketing:
1. URL – the website address you type into your browser to go to a webpage.
2. Search Engine – I’ll just say Google. Google is the most widely used search engine. Some other popular search engines include Yahoo, AOL, and MSN.
3. SEO – the acronym for Search Engine Optimization. This process helps YOUR website move higher and higher in the search engine rankings when people type in specific words or phrases into a search engine. The websites you see on the first page when you search for something are well optimized and are receiving most of the traffic.
4. PPC – the acronym for Pay Per Click. This is a form of Internet advertising (and a major source of Google’s revenue) that allows you to only pay when people click on your ad and are taken to your website.
5. CTR – the acronym for Click Thru Rate. This is the percentage of people who click on your ad out of all those who see it. The higher this percentage, the better.
6. CPC – the acronym for Cost Per Click. This is how much you pay each time somebody clicks on your ad. In the self storage industry this is usually between $1.50 and $3.00.
7. Impressions – the number of times your ad was seen by a searcher on a search engine.
8. Conversion Rate – the number of actual renters out of all your inquiries. You want this number to be high as well.
9. CPA – the acronym for Cost Per Acquisition. This is how much it costs you to acquire a new customer.
10. ROI – the acronym for Return on Investment. This is the ratio of money gained or lost on an investment; in terms of marketing it is how much profit you’re making for each marketing dollar you spend.
Your goal for Internet marketing should involve capturing as many tenants as possible through the Internet at the lowest possible cost (lowest CPA). Because the Internet allows you to display so much information to potential renters, often times these potential renters come to you already knowing where you’re located, your office hours, unit sizes, and specials and therefore, are ready to rent a unit.
People using the Internet will contact you in one of four ways:
To grow globally is the dream of every businessman. A person who starts business on his own effort should need strong determination and positive efforts to make his business successful. Even a well established business needs right efforts to make his business /product/ services successful.
For success of any business marketing policy plays an important role. To increase your business growth, you need strong marketing team with knowledge of thorough marketing strategy.
The marketing department of any company can choose type of marketing depends on the business / service type, objectives, target market, capability, efficiency and budget. Selecting Traditional Marketing or Online Marketing very much depends on all above factors.
With change in time, marketing also affected positively with advance technology. Internet Marketing or Online Marketing or E-marketing have added thrill in marketing professionals. The popularity of Internet Marketing is emergent very rapidly in all type of business. But before start adopting traditional marketing or online marketing one should fully aware of its marketing strategy and its outcomes.
What is Traditional Marketing?
Generally the basic of any marketing is creating new customers and sustain existing customer. It is a task to create awareness of consumers in product / company / services by making their brand popular using various marketing techniques. For successful marketing, quality product and customer services are very important. The other important factors are demography, market needs, target market and many more factors require for complete market research to build successful marketing strategy.
Marketing is an intelligent and creative technique that includes advertising, distribution and selling. Understanding customers requirement and fulfill their needs is the base of success for any marketers. The marketing mix comprises of Product, Price, Promotion and Placement.
Traditional marketing is very costly. It needs long time and budget to get success. Till the date it is consider as proven marketing technique for promoting product or company. In traditional marketing the various media are used for marketing products such as Television, Radio, Print [newspaper, magazines etc.], Outdoor and many other media. Traditional Marketing is very effective, time-tested and proven way to make business or product popular.
The disadvantage of traditional marketing is it is very costly and need more time for to get success. In case of local marketing, traditional marketing is an ideal for product promotion but on international level it is consider as most expensive medium.
You can also use partly or complete Internet Marketing Services while using traditional marketing. Internet Marketing helps to boost your marketing campaign.
What is Internet Marketing?
Internet Marketing or Online Marketing is the medium to promote product or service through internet. The marketing strategy for any business becomes same for traditional marketing or online marketing such as all factors of market research. Today, Internet Marketing is considered as very faster and economical medium for promoting product and business growth.
Internet Marketing strategies covers a various services like search engine optimization (SEO), search engine marketing (SEM), email marketing, SEO copy writing, web development, pay per click (PPC) advertising, banner advertising, directory submission, blog writing and many more.
Read more on Internet Marketing
Importance of Internet Marketing Vs. Traditional Marketing
Internet Marketing
Traditional Marketing
Internet Marketing is very economical and fast way to promote product.
Traditional Marketing is very expensive and takes more time to promote product.
Internet Marketing is very useful for promoting product globally [without any additional cost].
It is very expensive and time consuming process for traditional marketing.
In Internet Marketing, you can also work with less employs [you can take more work with less manpower].
In Traditional Marketing, you need more employment with more man power which in terms requires spending more money.
In online business you can sell or buy product 24 X 7, round the year without employing any person.
That is not possible in traditional marketing.
Paying Professional and Experienced Internet Marketing Company is very economical.
Paying renowned Advertising and Marketing Company is very costly.
While comparing both marketing, the outcomes shows that in todays fast growing world, for fast business growth in most economical way, Internet Marketing or Web Marketing is an ideal way to make successful business locally as well as internationally.
If you want to expand your business and increase your profit and if you have low marketing budget than Internet marketing is the best way to accomplish all your marketing objectives.
Before selecting either traditional marketing or internet marketing, through market research is very important for successful marketing campaign.
Internet Marketing Company can offer best and effective marketing strategies as per your business needs. They can help in promoting and increase your business very efficiently within your budget. You can definitely get return of your marketing investment in very short period.
Take advantage of your business using Online Marketing / Internet Marketing from Experienced and professional Indian Internet Marketing Service Company that can provide and fulfill all your marketing needs to give strength and success to your business. Contact at