Marketing Study Guide

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Central and Peripheral Routes - There are two widely acknowledged routes to persuasion, the central and peripheral routes, which are important for communication strategies.

https://www.marketingstudyguide.com/using-porters-five-forces/

Using Porter's Five Forces Model in Marketing - Porter's Five Forces Model is a strategy tool that evaluates the intensity of competition and attractiveness of an industry by analyzing 5 fundamental forces.

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Buyer Persona Sections - The key buyer persona sections includes key information about your ideal customer to help in tailoring marketing strategies to meet target market needs.

The Key Goal of Product Augmentation: Differentiating Products in the Marketplace

Product augmentation is a marketing strategy that aims to enhance the value proposition of products by adding new features, services, or benefits.

This approach is particularly important for generic products, such as breakfast cereals, bread, and commonly used software, where differentiation through product design alone may be insufficient.

In many cases, product augmentation can provide additional value to consumers without substantially increasing the underlying cost structure.

Check out a list of 50+ product augmentation ideas at...

Product Augmentation Examples - THE Marketing Study Guide A list of 50+ product augmentation examples and ideas. Ideal to guide product design and help understand the concept of product augmentation.

The Importance of Price Premium for Marketing Analytics

Let's look at the role of price premium in marketing analytics for a moment. As an important metric, it can shed light on things like:

Pricing strategy for a brand: Are you charging more or less than your competitors?

Price changes for a brand: Keep an eye on price premium trends to see if your brand's prices change a lot compared to those of its competitors.

Strength of the brand: A higher price premium means that the brand is stronger.

Price sensitivity of target markets: Figure out what prices customers are willing to pay.

By looking at the price premium, marketers can learn more about their strategy, the strength of their brand, and how customers behave. This metric is especially helpful for companies that want to charge more than the market average but have a strong brand.

Find out more about this marketing metric at... https://bit.ly/3ZAeyrV

And while you are there, don't forget grab a free Excel template for calculating market shares and the price premium.

Or check out the video at... https://bit.ly/42VBHIp

The Four Ways to Calculate Price Premium (Marketing Metric) Price premium is the brand’s price relative to a one or more competitors. Find out the four ways to calculate price premium. Find out more about this marketi...

An Example SWOT Analysis for Banking

Just to let you know about a SWOT analysis example for a bank. It is quite comprehensive and provides a good understanding of how to structure a banking SWOT.

And when you check it out you’ll see that there are three different banking SWOT examples to review – for both small and large banks.

And as a bonus, while you’re there you can also download a free and simple Excel template for making any comprehensive SWOT analysis within minutes.

SWOT Analysis Example for a Bank - THE Marketing Study Guide Get a detailed example of a SWOT analysis for a bank. And as a bonus, you can get a free SWOT Excel template for making any SWOT quickly.

Get the Free Cost-Plus Pricing Excel Template
Want to simplify your cost-plus pricing calculations and find the most effective price points and markups? Marketing Study Guide has created a free Excel template that takes the guesswork out of the process. This template allows you to perform scenario testing quickly and accurately. Download your free copy now at https://www.marketingstudyguide.com/free-excel-template-for-cost-plus-pricing/. "

Discover the benefits of using cost-plus pricing in your business strategy. This article explores the key advantages of this method, including its simplicity, flexibility, and profitability. Gain a deeper understanding of when cost-plus pricing is most effective, particularly for businesses with large product lines. Expand your knowledge and improve your pricing strategy by reading more on marketingstudyguide.com.

https://www.marketingstudyguide.com/when-to-use-cost-plus-pricing/

Discover the benefits of using cost-plus pricing in your business strategy. This article explores the key advantages of this method, including its simplicity, flexibility, and profitability. Gain a deeper understanding of when cost-plus pricing is most effective, particularly for businesses with large product lines. Expand your knowledge and improve your pricing strategy by reading more on marketingstudyguide.com.

https://www.marketingstudyguide.com/when-to-use-cost-plus-pricing/

When to Use Cost-Plus Pricing - THE Marketing Study Guide Explore the advantages of cost-plus pricing. This article outlines why it is considered simple, flexible, and effective for making profits.

Cost-plus pricing is a popular method for setting retail prices, but it is important to understand the limitations and challenges of this approach.

Our latest article delves into the key disadvantages of cost-plus pricing, including not considering competitive pricing, customer value, profit maximization, and more.

If you're considering using cost-plus pricing for your business, make sure to read this article to make an informed decision. "

Disadvantages of Cost-Plus Pricing - THE Marketing Study Guide Discover the limitations of cost-plus pricing. Learn about the key disadvantages for competitive position, customer value, and profits.

Download the Free PESTLE Analysis Excel Tool

PESTLE analysis is designed to summarize the situational analysis of the macro-environment scan.

And PESTLE helps you identify where the marketplace is heading, so that you can develop a strategy based upon the emerging (not the current) market conditions. This approach will give your business a competitive advantage in the market.

Download the free Pestle Analysis Excel template here...

Free PESTLE Analysis Template - THE Marketing Study Guide This is a free Excel template tool that enables you to produce a PESTLE analysis within minutes. Choose from 400 factors or add your own.

Make a Perceptual Map in Excel
Watch the video for the easiest way to make a perceptual map to review your brand's position in the market.

The Fastest and Easiest Way to Make a Perceptual Map in Excel Making a perceptual map in Excel can be tricky. This video shows you the quickest and easiest way to make a perceptual map for marketing purposes. Find out m...

𝟭𝟮 𝗥𝗲𝗮𝘀𝗼𝗻𝘀 𝘁𝗼 𝘂𝘀𝗲 𝗮 𝗖𝗼𝗻𝗰𝗲𝗻𝘁𝗿𝗮𝘁𝗲𝗱 𝗧𝗮𝗿𝗴𝗲𝘁 𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝘆

1 = the firm has a clear target market
2 = the firm will have a limited competitive set
3 = the firm will have a deeper understanding of the marketplace
4 =a firm adopting a concentrated target strategy will have a simpler business to operate
5 = this strategy will reduce competitive incentives
6 = the brand may benefit from supportive word-of-mouth from loyal customers
7 = the firm's resources and investments will be quite selective
8 = they can more easily grow the business successfully through product line extensions
9 = they can also to grow their business internationally with only minor modifications
10 = the brand’s positioning will be quite well defined
11 = their market share position should become relatively protected,
12 = using a concentrated target market strategy may be an ideal stepping-stone for later expansion