Tag: business

The Impactful Retail Display Guide

Post author By Onne Farahnabila
Post date 14/08/2023
No Comments on The Impactful Retail Display Guide

Good retail displays are essential in your stores. They entice your customers, engage them in new products, build brand awareness, and drive more sales. However, creating them can be daunting for even the most experienced marketer.

Here is the ultimate guide to creating a compelling retail display.

What is a Retail Display?

A retail display is a physical structure or space used to promote and sell merchandise in a retail environment. Retail displays can be found in both physical stores and digital stores.

They are typically used to showcase products in an appealing way, to attract customers, and to encourage them to make a purchase.

Why are Retail Displays so important?

Retail Displays offer a powerful platform to enhance brand awareness by showcasing a brand’s unique identity and products, introducing new products or seasonal items through captivating displays generates excitement and interest among shoppers. Furthermore, well-organized displays improve the overall shopping experience, guiding customers through the store and making their journey more enjoyable.

With a significant percentage of purchase decisions (up to 76%) being made right in the store, the impact of retail displays cannot be underestimated as they often become the deciding factor to clinch a sale. Whether implemented on a grand scale or a more modest one, the outcomes can be remarkable.

For instance, a recent survey demonstrated that introducing products through novel displays can lead to a staggering surge in sales, with potential increases reaching up to 478%.

Types of Retail Display

There are various types of retail displays, each serving different purposes and catering to diverse product categories.

Here are some common types of retail displays:

Window Displays

Placed in store windows, these displays aim to attract passersby and create a solid first impression. They often showcase the store’s latest products, promotions, or themed arrangements to entice customers into the store.

Gondola Displays

Gondola displays are shelving units placed along store aisles. Retailers use them to organize and present a wide range of products, making them easily accessible to customers.

Dump Bins

Dump bins are large containers, often placed near checkout counters or high-traffic areas, to hold discounted or promotional products. Customers can sift through these bins to find deals and special offers.

Showcase Displays

Enclosed with glass or transparent materials, showcase displays are used to exhibit valuable or delicate items, such as jewelry, electronics, or high-end products.

Mannequin Displays

Primarily used in fashion retail, mannequin displays showcase clothing and accessories on realistic mannequins to demonstrate how the items can be styled and worn.

Each type of retail display serves a unique purpose in presenting products, creating an appealing shopping environment, and influencing customer behavior. Retailers often use a combination of these display types to optimize their store layouts and enhance the overall shopping experience.

So What is a Good Retail Display?

Indeed, the process of creating effective retail displays demands a thoughtful and creative approach. Achieving success requires strategic placement, captivating designs, and seamless communication with store teams.

At CVI, our focus is on ensuring that your retail displays shine in every store. Whether you are organizing store-wide sales or launching new products.

Reach out to us to learn more about how we can help you elevate your retail displays and achieve remarkable results.

Tags awareness, branding, business, digital marketing, digital strategy, display marketing, marketing guide, retail display marketing, retaildisplay, social media strategy

Article

“The Power of Captive Markets” Understanding the Dynamics and Implications

Post author By Onne Farahnabila
Post date 18/07/2023
No Comments on “The Power of Captive Markets” Understanding the Dynamics and Implications

What is a Captive Market?

A captive market is one in which there are suppliers who control the supply of specific goods. This scenario results in high demand for the little supply available. Consumers do not have a choice but to buy the presented supply. This leads to higher prices with limited diversification for consumers.

Why a Captive Market is Important?

A captive market is important for businesses due to several reasons. Firstly, it provides a stable revenue stream as customers have limited or no alternative options to purchase from a specific provider. This consistency allows businesses to plan their operations, invest in expansion, and make long-term decisions confidently. Secondly, a captive market reduces competition, giving businesses an advantage with higher profit margins and control over pricing and supply. The lack of alternatives or high barriers to entry discourages potential competitors from entering the market, allowing the dominant business to maintain its market share.

However, from a consumer perspective, a captive market may restrict choice and potentially lead to lower-quality products or services and higher prices. To safeguard consumer interests, regulations are often in place to promote competition and prevent the abuse of captive market power. These measures aim to balance the advantages for businesses and the protection of consumer welfare in markets characterized by confined market dynamics.

Examples of Captive Market

1. School Stationery

Every educational institution possesses its exclusive stationery store from which it supplies all the necessary items such as notebooks, textbooks, stationery, uniforms, accessories, and more to its students.

Although these items can be readily purchased from external sources, the school’s strict regulations enforce students to obtain them solely from the designated stationery unit. Moreover, certain products like school-branded ties, belts, covers, and copies serve as representations of the school’s identity, making it obligatory for students to acquire them from the authorized store. In such circumstances, despite higher prices, students have no alternative but to procure their requirements from the school’s own supply unit.

Even in the case of uniforms, the school has an exclusive dressmaker who charges excessive fees for creating regular attire. Hence, the purchasing channel remains within the school, and due to barriers preventing other options, students find themselves constrained to accept the prices in this captive market.

2. Food courts in Malls

Prices within the food court of shopping malls vary depending on the mall’s status. In regular malls, food prices are slightly higher than market prices, while in upscale malls frequented by celebrities and the elite, prices are significantly inflated.

This price difference can be attributed to the disparity in rent between the two categories of malls. The rent in ordinary malls is lower compared to posh malls, leading food vendors to charge higher amounts within the limited space. Additionally, malls often have policies that prohibit outside food, further limiting buyers’ options and leaving them with no choice but to accept monopolistic pricing.

3. Cinema Halls

Similarly, within cinema halls, food prices are notably higher compared to other areas in the same mall. Only a few stalls offer their food at exorbitant prices that are unaffordable for ordinary individuals. In this scenario as well, people are confined by limited sellers and consequently accept the prices set for their products.

4. Pharmaceutical Drugs

Patented drugs with no generic alternatives create a captive market where consumers have no choice but to purchase the specific brand-name drug at the price set by the pharmaceutical company.

In conclusion, captive markets can significantly impact both consumers and businesses. While businesses benefit from a stable revenue stream, reduced competition, and greater control over pricing and supply, consumers may face limited choices, higher prices, and potential quality concerns. To strike a balance, regulations are in place to protect consumer interests and promote fair competition.

If you’re a business owner seeking effective marketing strategies to navigate captive markets or enhance your market position, our marketing agency, CVI, is here to help. With our expertise in crafting targeted marketing campaigns and identifying growth opportunities, we can assist you in reaching your target audience, increasing brand visibility, and standing out in competitive market environments.

Contact us today to discuss your business goals and explore tailored marketing strategies that can drive success in captive markets.

Tags branding, business, business marketing, captivemarkets, digital marketing, digital strategy, marketing guide, social media strategy

Article

The Power of WhatsApp Blasts for Business Strategy

Post author By Onne Farahnabila
Post date 15/06/2023
No Comments on The Power of WhatsApp Blasts for Business Strategy

WhatsApp broadcasts, also known as WhatsApp blasts, are indeed a valuable feature for businesses. They allow businesses to send customized messages to multiple customers simultaneously.

Apart from personalized messaging, WA blasts offer numerous other advantages that can contribute to the profitability of your business. For instance, they enable businesses to connect with customers and solicit their feedback. Fascinating, isn’t it?

Now, let’s explore how you can leverage WhatsApp blast capabilities.

What is WhatsApp Blast?

WhatsApp Blast is a WhatsApp Business API feature that can help and support your business strategy, which allows sending mass messages at the same time.

It empowers you to dispatch messages on a large scale simultaneously, eliminating the need to save user numbers in your contacts. This functionality proves highly effective and efficient, presenting business owners with an exceptional means to engage with a multitude of customers at once.

Benefits of WhatsApp Blast for Companies

Personalized messages for customers

WhatsApp Blast solution offers the ability to disseminate tailored messages to an unlimited number of WhatsApp users.

By delivering mass messages daily to thousands of customers, your business gains a competitive edge in terms of swifter communication compared to others.

Discover untapped markets

WhatsApp Blast enables you to reach out to new and undiscovered consumer segments. For instance, you can employ text and image-based blasts resembling digital flyers to engage anonymous contacts.

This approach enhances public awareness of your business, products, or services, with an impressive 90% read rate for WhatsApp messages.

Always connected with customers

With the increasing number of smartphone users, mobile-friendly communication is crucial for staying connected with clients in this modern era.

Given that messaging on social media platforms is now preferred over traditional phone calls, leveraging WhatsApp for promotional messages enables business owners to effortlessly reach out to their target audience.

Faster customer feedback, More customer insights

One of the significant advantages of our WhatsApp Blast system is facilitating direct and immediate feedback from customers. Businesses that actively engage with their customer base through WhatsApp establish a stronger brand identity. This approach provides valuable insights into your company’s operations, ultimately leading to increased sales and business growth.

WhatsApp Blast empowers you to gain insights into the experiences and preferences of your target audience, thereby unlocking opportunities for further exploration and business growth.

Don’t miss out on the opportunity to harness the power of WhatsApp Blast for your business. Partner with us today and let us help you boost your business forward in the digital landscape.

Tags business, digital marketing, digital strategy, marketing guide, performance marketing, social media strategy, whatsapp, whatsappblast

Article

The Benefits of Email Marketing for Businesses

Post author By Onne Farahnabila
Post date 20/01/2023
No Comments on The Benefits of Email Marketing for Businesses

Email is one of the oldest forms of digital communication—but it’s also one of the most effective digital marketing strategies out there.

What is Email Marketing?

Email Marketing is a powerful channel, a form of direct marketing that uses email to promote your business’s products or services. It can help make your customers aware of your latest items or offers by integrating those items into your marketing automation efforts. It can also play a pivotal role in your marketing strategy with lead generation, brand awareness, building relationships, or keeping customers engaged between purchases through different types of marketing emails.

Why is It Essential?

Apart from being the primary communication source, email marketing has some other benefits:

It offers a high Return on Investment (ROI). Based on the Neilson study, email marketing has the highest ROI of 675% when compared with any of the other major marketing methods. An email marketing campaign can greatly increase sales and profits when integrated with a business’s website.
More effective in acquiring new customers than social media platforms like Facebook or Twitter
We can seamlessly integrate it with other communication channels. Use your chance to enlarge your audience, blending emails with your profiles on social media platforms, SMS, or web push notifications.
It improves your website’s search engine optimization (SEO) by driving traffic to your website through content sharing and backlinking.

When to Use It?

There are many ways to use email marketing — some of the most common including using the tactic to

Build relationships: Build connections through personalized engagement.
Boost brand awareness: Keep your company and your services top-of-mind for the moment when your prospects are ready to engage.
Promote your content: Use email to share relevant blog content or useful assets with your prospects.
Generate leads: Entice subscribers to provide their personal information in exchange for an asset that they’d find valuable.
Market your products: Promote your products and services.
Nurture leads: Delight your customers with content that can help them succeed in their goals.

Types of Email Marketing

There are several types of email marketing, each with its own purpose and target audience. Some of the most common types include

Newsletters: Newsletters are typically sent on a regular schedule, such as weekly or monthly, and include information about a company’s products or services, and industry news. We prefer to use newsletters to maintain a relationship with existing customers and to keep them informed about the company’s activities.
Promotional Emails: These types of emails are used to promote a company’s products or services, often including special offers or discounts. We prefer this strategy whenever we want to target lists of potential customers and drive sales or generate leads.
Transactional Emails: These are automated emails that are triggered by a specific action, such as a purchase or registration. They can include confirmations, receipts, and other types of information that are relevant to a specific transaction.
Relationship Emails: This type of email marketing is used to build and maintain a relationship with a customer. It can include “Welcome” emails for new subscribers, “Birthday” emails, and other types of messages to foster a sense of engagement with a company.

Each type of email marketing has its own specific goals and strategies. But, they all have the goal to target the right audience with the right message at the right time.

Ready to Start Yours?

If you’re ready to start the benefits of an email marketing campaign, CVI can help.

Let us help you create a personalized plan that aligns with your unique goals and audience. Our team will work with you to develop compelling, engaging content that drives results.

Source: Mailchimps, Sendpulse, Hubspot

Tags business, digital marketing, digital marketing channel, digital strategy, email marketing

Article

Why Marketing Mix Important for Business Owner

Post author By Hesky Benneth
Post date 21/07/2022
No Comments on Why Marketing Mix Important for Business Owner

Digital Marketing Challange

As an entrepreneur, traders, or business people we’ve to understand how to advertise our products or services to the client. The rise of digital marketing gives advantages to small and big businesses, but this sector currently still needs many improvements and experiments.

Digital Marketing platforms like analytics and data visualization tools make entry-level marketers get confused while collecting the conclusion from that information.

What is Marketing Mix and How It’s Works

Marketing mix is a strategy analytics that can help your brand increase the number of returns and get a deeper understanding of how your business functions.

The statistical information of this method can determine historical and forecast data more accurately than other analytical models.

So you can decide which factors have had the biggest impact on return and which factors have contributed the most to the success of your business campaign.

Marketing Mix Variable

A good product isn’t enough, you need to apply the right marketing strategy, most businesses go bankrupt, because of marketing failure. The marketing mix helps the owner and marketer understand your actual customer with 5 variables, such:

Product

Creating product must answering this question :

– Customer problem

– Solution that your business can offer

– Effectiveness and efficiency of your product

– Uniqueness of your product

Many companies fail while running their business, because they can’t solve that problem. 36% of start-ups create bad products due to lack of research.

2. Price

The marketing mix uses Break Even Price, which is the smallest price that can be placed on the product so that the business does not lose money. The formula is (Total Fixed Cost/Production Volume) + Variable Cost Per Unit = Break-Even Price.

3. Place

Choosing the right location by considering function and cost is important for business owners. In the digitization era, place can be related to social media, marketplace, and websites. Both of them have their advantages.

4. Promotion

Good promotion create brand awareness. Ads, organic traffic, social media, digital and conventional marketing have to engage the audience. But speaking with their language is more important.

5. People

The people referred here besides customers are employees. Managing human resources is not easy and business owners must take the recruitment process seriously. With valueable employee company can quickly achieve its goals.

This model is very important to know by business owner while designing and running a business. So you can determine the right and effective marketing strategy.

Tags business, marketing mix

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