Market segmentation is a marketing term that refers to dividing a market into smaller groups of consumers with common needs and who respond similarly to a marketing action. The goal of market segmentation is to allow a business to better target its products or services to different categories of consumers. Main Benefits of Market...
Simonson & Rosen’s Influence Mix is a marketing framework that helps marketers to understand how different factors influence consumer decisions. It was developed by professors Itamar Simonson and Emanuel Rosen. Main Benefits of Simonson & Rosen’s Influence Mix Simonson & Rosen’s Influence Mix is a useful tool that helps marketers to create more targeted...
Net Promoter Score is a customer satisfaction and loyalty metric that is used to gauge the likelihood that a customer will recommend a company’s products or services to others. The NPS is a proprietary instrument developed by Fred Reichheld, an American New York Times best-selling author, speaker and business strategist. Main Benefits of Net...
The Hook Model of Behavioral Design is a framework that can be used to encourage specific behaviors in customers. The model is created by Nir Eyal, lecturer and investor known for his bestselling book, Hooked: How to Build Habit-Forming Products. It is based on the idea that the most effective way to encourage a behavior is...
All around the world, one of the crucial needs of companies is the adoption of their strategies across all parts of their organizations. For this, the Pyramid of Purpose Model is developed as a strategic tool that meets this need of the companies. The Pyramid of Purpose Model is prepared for the companies to effectively...
The Competitive Landscape Analysis is a dynamic model to identify a company’s competitors by collecting insights from their business strategy by identifying, searching, and evaluating their moves. In other words, The Competitive Landscape Analysis assists companies in analyzing their competitors’ strengths and weaknesses. In a sense, it enables companies to identify their direct and indirect...
A sales funnel or a purchasing funnel illustrates the steps of customers’ journey during the purchasing period. It is based on the four stages of the purchasing period: awareness, interest, decision, and action. These stages identify the position of customers from gaining their attention to attracting the customers to buy the product or service. Main...
Increasing the number or the volume of sales is listed among the top targets of sales & marketing teams in each and every company. Through the correct planning of cross-selling and up-selling, companies can go beyond their current sales. To imply the true spirit of the cross & up-selling mechanisms in a company, every manager...
For companies in all industries, the perceptions of their products in their buyers’ minds carry high importance for their profitability, sustainability, and the future of their companies. When companies launch their new products, they will face different buyers that are in different engagement stages. The Product Diffusion Curve is a bell-shaped curve that segments the...
Archie B. Carroll’s Corporation Social Responsibility (CSR) Pyramid Model was published in 1991 and became a well-known example in the CSR literature. The model provided an explanation for the four dimensions of how and why organizations need to take into account social responsibility. The dimensions of Carroll’s CSR Pyramid Model: There are four dimensions in...
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