Are you overwhelmed with the concept of Marketing? Or Do you find it difficult to decide what information should you share with your customers? Or Are you confused in deciding about the methods you should choose to reach out to your customers?
If these are the questions in your mind, this article may help you in understanding the basic concept of marketing and various methods to do marketing.
What is Marketing?
First, let’s start by understanding what Marketing is? In simple terms, you need to provide the information about your product or services to the right audience at the right…
When someone talks about “Innovation”, the first instinct is to link it to “Product Innovation” ie Add new feature or functionality.
Actually there are 10 different types of innovations, and the more types you incorporate , the more successful your innovation likely to be:
1. Business Model: How enterprise makes money 2. Value Network: Enterprise structure and value chain 3. Core Processes: Proprietary process that add value 4. Innovation Process: How company organizes to Support Innovation 5. Product/Service Performance: Basics feature, performance, and functionality (Remember, ”Product Innovation” !) 6. Service System: Extended system surrounding the offering 7. Customer Service: How…
We always use KPIs and Metrics to measure the performances of Products and, very often, we use these interchangeably. It is important to understand the difference between these two.
First of all both are quantifiable measurement of Strategic or Tactical activity.
KPIs are Strategic while Metrics are Tactical.
What are Metrics?
Metrics or Business Metrics are quantifiable measure used to gauge performance of a business activity. You use this “metric” to define the success or failure of that business activity.
For example if your goal is to get 10k monthly visitor for your website, then “monthly website visitor” will become…
I was fortunate enough to learn the theory of “the Job to be done” from the inventor of this theory, Prof Clayton Christensen himself, widely regarded as the top business mind on strategy and innovation. This changed my perspective of Product forever.
when we buy a product, we essentially “hire” that product to do a job. If we are satisfied with the job, we hire the same product again, otherwise, we look for alternatives to do the same job.
As per a McKinsey report, 84% of global executives think Product Innovation is extremely important for growth but 94% of executives…
With the unprecedented COVID situation, Retailers are moving faster towards providing omnichannel experience to customers and ‘Conversational Commerce’ capabilities have come up as a prominent competitive advantage for Retailers.
What is conversational Commerce?
Conversational commerce is utilizing chat, messaging, and other natural language interfaces to interact with people, brands, or services and bots, which may include facilitating a transaction. (Gartner)
Conversational commerce is integrating all kinds of communication channels such as chat, messaging, social, voice into a single platform, and facilitating a different kind of activities from product discovery to purchase.
Conversational commerce can be understood clearly from the below…
Product lover, Technology evangelist -Building next gen Product @NCR( Company which built the first ATM), Ex-Govt of India, Ex-NBCU, Ex-WHR, Ex-IBM. IIMA Alum.