Tag: marketing guide

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
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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

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Understanding the Decoy Effect and How to Use in Marketing to Increase Sales

Post author By Onne Farahnabila
Post date 19/05/2023
No Comments on Understanding the Decoy Effect and How to Use in Marketing to Increase Sales

If you have ever encountered three drink sizes offered by a coffee shop or supermarket, that is an application of the decoy effect.

The decoy effect is one of the marketing strategies used to increase the sales of a product.

Price is the most complicated marketing element. Therefore, to determine it, many considerations are needed, and the decoy effect is one of the strategies used for this purpose.

What is the Decoy Effect?

As quoted by The Decision Lab, the decoy effect is a pricing strategy used by adding a third, less attractive option as bait to influence the buyer’s perception of the main option.

One instance of implementing the decoy effect can be seen in the following scenario:

Company A offers beverages in two sizes – small and large, with the respective prices:

Small: Rp35,000

Large: Rp50,000

This pricing strategy allows customers to easily compare and select the option that best suits their needs or budget.

However, the company decides to apply the decoy effect by introducing a third option – medium, as a lure.

Thus, the beverage options now include:

Small: Rp35,000

Medium: Rp45,000

Large: Rp50,000

By adding a third option with a price that appears to be reasonable, the company creates the decoy effect.

Initially, customers may have a tendency to select the small option, but the presence of the decoy option can potentially influence their decision-making process.

How to use the Decoy Effect in business?

To effectively use the decoy effect in your business, it’s important to consider more than just prices. The decision could also involve factors like quality versus convenience.

The ultimate goal of a decoy is to create the perception that your target product is a good deal. This can be achieved by changing the relative value of different parameters (e.g. cost versus layover time for a plane ticket) or by offering more for less (e.g. different sizes of perfume).

Here’s a quick guide to creating a decoy:

Choose your target product or service, ensuring that it’s something your customers already like.
Introduce a decoy that offers less for the same or almost the same price. The decoy should be a very bad deal in comparison to the target.

However, it’s important not to make the decoy too unappealing, as you still want to make the price of the target product favorable. You can make the decoy less attractive by changing a different feature, such as the color.

Ensure that the third option you offer is distinct from the target and decoy and provides a clear customer comparison point.

Apply Decoy Effect to Your Marketing Strategy

This strategy is commonly used in pricing, where a third option is added to make the target product appear more appealing.

Though to effectively use the decoy effect in the business, it’s important to consider factors beyond price, such as quality versus convenience, and to ensure that the third option is distinct from the target and decoy while providing a clear comparison point for customers.

If you’re unsure of how to apply Decoy Effect to your marketing strategy, CVI will be happy to offer consultation to help you.

Tags branding, decoyeffect, digital marketing, digital strategy, marketing guide, social media strategy

Article

The Importance of Context in Color Psychology for Marketing and Branding

Post author By Onne Farahnabila
Post date 03/04/2023
No Comments on The Importance of Context in Color Psychology for Marketing and Branding

What is Color Psychology?

Color psychology is the study of how different colors affect human mood and behavior. Understanding color psychology in marketing and branding is crucial for businesses to communicate their message and influence consumer behavior effectively.

By selecting the right colors for their brand, businesses can create a powerful emotional connection with their target audience and convey the right message.

Challenges of Applying Color Psychology in Marketing and Branding

Many researchers have attempted to classify how individuals react to particular colors. Still, the truth is that color is too subjective and heavily influenced by personal experiences to be universally translated into specific emotions.

Factors such as personal preferences, experiences, cultural differences, and context can all affect colors’ impact on us. Therefore, the belief that colors can evoke hyper-specific emotions is often inaccurate.

Making Effective Color Choices for Your Marketing and Branding Strategy

The right color is appropriate for your brand

The appropriateness of color is important in branding and marketing. According to a 2006 study, the choice of color for a brand is determined by how appropriate it is for the product or service being offered. It’s essential to determine whether a color is appropriate by collecting customer feedback.

The right color differentiates your brand

Studies have shown that color is essential in creating brand identity and recognition, with new brands advised to choose colors that differentiate them from competitors.

The Isolation Effect suggests that items that stand out are more memorable. Research has found that consumers prefer color patterns with similar hues but also favor palettes with contrasting accent colors.

The right color has the right name

The names given to colors can significantly affect how consumers perceive them. Research indicates that consumers prefer fancy color names over simple ones, even when the colors displayed are the same. Furthermore, unconventional and unique color names are more appealing for products, including paint colors, where elaborately named shades are considered more attractive than those with simple names.

The Power of Colors

Color can have a significant impact on communicating messages, setting particular atmospheres, and even shaping people’s choices. It also influences consumers’ purchasing decisions, clothing choices, and how they decorate their surroundings.

Tags branding, color psychology, digital marketing, digital strategy, marketing guide

Article

Marketing Guide During Ramadan in 2023

Post author By Onne Farahnabila
Post date 28/02/2023
No Comments on Marketing Guide During Ramadan in 2023

Ramadan is an important period in the Islamic calendar, characterized by fasting, introspection, and religious devotion. Businesses seeking to capitalize on this holiday must devise a well-planned Ramadan advertising and marketing strategy.

This article “Marketing Guide During Ramadan in 2023” presents a comprehensive overview of Ramadan marketing and shopping trends for 2023, providing valuable information for both small and large corporations.

Gain insights on how to optimize this religious holiday season for your business. Kindly take the time to read further for more information.

Maximizing Your Online Presence During the Ramadan Season 2023

Indonesians often turn to the internet when considering a purchase to gather information and feel confident in their decision. Nearly 80% seek a trusted source and 94% want to read as much relevant information as possible. Search engines are a common starting point, with 73% using them to find e-commerce or brand websites.

Having a strong online presence is crucial for brands, but it also must be well-timed. By being present during the information-seeking process, brands can remain top-of-mind in the customer’s journey to purchase.

Key moments for brands to engage with Indonesians during Ramadan

Key Moments Guide during Ramadan

Timing is key for Ramadan marketing efforts in Indonesia. As consumers start their preparations for the holiday, interest in fasting-related products like dairy, juice, and staple foods increases. This trend continues to intensify two weeks before the start of Ramadan.

During the first week of Ramadan, searches for gifts and entertaining products like baked goods and soft drinks also intensify. The third week of Ramadan sees a peak in interest in beauty, fashion, and home improvement products as families prepare for home visits during the holiday.

Throughout the month, telecommunication products like data plans and prepaid packages are in high demand as people connect with loved ones online. By aligning your marketing efforts with these shifts in consumer behavior, you can effectively reach and engage your target audience during this important holiday.

Ramadan Audiences Guide Every Marketer Should Know

Marketers should be aware of the different audiences that will be celebrating Ramadan and tailor their campaigns accordingly. Understanding the needs and motivations of each group will help create advertising that resonates with them and drives results.

Families

This group values spending time together and may be more likely to participate in offline activities such as visiting relatives or going on vacation. Marketers should avoid ads featuring food or drink as Muslims abstain from eating or drinking during the day.

Young Adults

This audience may be more engaged with their faith during Ramadan and interested in content about religion, spirituality, or personal growth. They may also be open to participating in offline activities like visiting mosques or attending religious lectures.

Working Professionals

This group may have less time for religious observances due to work, so content that helps them balance their responsibilities while maintaining their spiritual practice would be appreciated.

They may also be interested in learning how to integrate Islamic values into their work life.

Students

With more free time during Ramadan, students are a prime target for brands promoting leisure activities or products. They may also be interested in content related to personal development or exploring their faith.

Seniors

Older Muslims may appreciate content that is respectful of their age and religious beliefs. Brands should focus on how their product or service can add value to the lives of this group without being intrusive or disruptive.

Newcomers to Islam

Muslims new to the faith may appreciate educational content about Ramadan and what it means to be Muslim.

Push Your Marketing During Ramadan to the Next Level

Brands targeting Muslim consumers’ marketing guide during Ramadan should keep in mind the significance of the event in the Muslim calendar.

A successful Ramadan marketing strategy should consider the key factors of the holiday and the needs of the target audience.

To help you meet this goal, CVI offers a consultation that will help you to get ready for Ramadan 2023.

Source: Videnglobe, Thinkwithgoogle

Tags digital marketing, digital strategy, marketing guide, ramadhan guide, social media strategy

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