Tag: marketing analysis

  • Zepto Marketing Strategy | What Drove Zepto’s Success in Quick Commerce?

    The quick commerce industry is one of the fastest-growing industries in India, and Zepto has fueled this industry with its innovative marketing strategies. Zepto, India’s fastest online grocery delivery app, has disrupted the entire quick commerce market in a short period.

    Convenience and super-fast delivery are the two main aspects of Zepto’s incredible marketing strategy. It is on its way to becoming India’s second-youngest unicorn. Since its inception, it has expanded its footprint in cities like Bangalore, Chennai, Delhi, Ghaziabad, Noida, Gurgaon, Hyderabad, Kolkata, Pune, and Mumbai. Zepto’s business strategy focuses on quick commerce, ensuring 10-minute deliveries, using dark stores for faster order fulfillment, and offering a wide product range at competitive prices to attract urban consumers.

    There are a lot of interesting things you will get to know in this article, about the marketing strategy of Zepto, and how it acquired and retained customers where other big players are struggling to do so.

    Zepto Marketing Mix
    Zepto Target Audience
    Zepto Marketing Strategy

    Zepto USP
    Zepto Marketing Campaign

    Zepto Marketing Mix

    Product

    Zepto stands out in the market with its 10-minute grocery delivery, catering to time-conscious customers. Offering a diverse range of high-quality products, including groceries, fresh produce, household items, and personal care products, Zepto ensures customer satisfaction and encourages repeat business. The introduction of private-label products enhances brand loyalty by providing quality at competitive prices, making Zepto a compelling choice in the fast-paced online grocery landscape.

    Price

    Zepto adopts a strategic pricing strategy to enhance its market position by offering competitive pricing that attracts customers and ensures a sustainable market share. The company uses dynamic pricing to adjust its prices in response to demand and competition, thus optimizing revenue and profitability. Moreover, Zepto actively engages customers through various promotional offers, including discounts and coupons, aimed at not only drawing new patrons but also fostering loyalty and encouraging repeat business.

    Place

    Zepto primarily operates through its mobile app, which is designed to make grocery ordering quick and easy for busy customers. The company has strategically located dark stores to ensure speedy and efficient order fulfillment. Zepto has also partnered with a variety of delivery services to guarantee that orders are delivered promptly to customers’ doorsteps. This integrated approach demonstrates Zepto’s dedication to providing convenience and efficiency in the grocery delivery industry. Zepto’s business strategy revolves around offering ultra-fast delivery, with a focus on customer convenience and satisfaction.

    Promotion

    Zepto employs a diverse marketing approach, utilizing digital channels like social media and influencer marketing, alongside out-of-home advertising for brand visibility. Positive media coverage enhances its reputation, while meme marketing fosters audience engagement. A referral program incentivizes customer loyalty, contributing to both acquisition and retention. Zepto’s concise and varied strategies solidify its dynamic presence in the market.


    Aadit Palicha: The College Dropout Driving Zepto’s Rapid Success | Career | Net Worth | Education
    Aadit Palicha, the college dropout and co-founder and CEO of Zepto, is revolutionizing India’s quick commerce industry with rapid deliveries and innovative solutions. Discover more about his education, career, net worth, his journey and success story.


    Zepto Target Audience

    Zepto mainly targets busy people living in cities who want quick grocery deliveries. Its customers include young professionals, students, and families who need things fast. The service is for people who like using technology to save time. Zepto focuses on city areas, offering a simple online shopping experience.

    Zepto Marketing Strategy

    Zepto’s marketing strategy has played a crucial role in growing its business to this extent. A lot of innovative steps have been taken by the company to support and boost its business growth. Zepto’s target audience is generally young adults and the modern generation. Here is the detailed overview you must read.

    10-Mins Delivery Strategy

    The idea of online grocery delivery is not new. Startups like Dunzo and Blinkit are already providing these services. The fact that distinguishes Zepto from all its competitors is its 10-minute delivery of groceries and other products. You might have heard about Zomato Instant, which provides food delivery within 10 minutes, but Zepto is the first player in the grocery delivery segment to offer a 10-minute grocery delivery service.

    The idea of 10-minute grocery delivery is unique, but it was not that easy to implement. To fulfill its promise to deliver groceries in the specified time, Zepto introduced the concept of the dark store model. The dark store is like a fulfillment center for Zepto; it is not accessible to the public but is efficient enough to fulfill orders rapidly.

    Artificial intelligence is used by Zepto to pick, pack, and transport orders in leaps and bounds. Whenever any customer places an order, a person with a tablet is assigned to pick up and pack the order within 60 seconds. It means that at the time you make the payment, someone is already preparing your order for dispatch. The company claims that 8 minutes and 40 seconds is the average delivery time they have achieved.

    Zepto operates its dark store delivery within a 3 km radius, and it doesn’t penalize its delivery boy for late delivery.

    Discounts are a way to attract customers, but as a new player in the segment, offering huge discounts was not a sustainable option for Zepto. Hence, the 10-minute delivery strategy comes out to be a panacea for Zepto.


    Zepto Success Story: Owners | Growth | Funding |Challenges
    Zepto is a grocery delivery app that delivers groceries to your home in ten minutes. Learn more about Zepto, its founders, funding, growth, challenges, etc. Explore how this $5 billion unicorn leads in quick commerce.


    Advertising and Branding Strategy

    Zepto Ad – Groceries Delivered in 10 Minutes

    There is not only one thing responsible for the success of Zepto, but an incredible advertising strategy has also played an important role in the success. L&K Saatchi and Saatchi is an advertising agency that was assigned to advertise Zepto and build a strong brand image in front of consumers. The main theme of all the ads is to emphasize the 10-minute delivery of Zepto.

    Zepto’s ads are attention-grabbing ads that suddenly capture the focus, and this is what every brand wants. When a boy suddenly wakes up and runs toward the door, it creates a question in the minds of viewers about why he is running. The twist and excitement of the ad make it capable of grabbing the attention of viewers.

    If I try to summarize the above ad in a single sentence, then it is like this: From the time you wake up until the time you sleep, every essential product will get delivered to your doorstep within 10 minutes.

    Each ad that was created is meant to make the consumer feel how Zepto is capable of changing their daily grocery shopping habit. Since advertising is the best way to market the product and build a strong brand image, Zepto has fully utilized the benefits of marketing.

    Advertising was not only done on social media channels, but it also planted its hoardings in the streets of cities in which Zepto’s services are operational.

    Zepto Branding Strategy
    Zepto Hoarding Advertising

    Social Media Meme Marketing

    In today’s generation of technology and innovation, we cannot ignore the power of social media. There is a huge chance you’ll find your target audience on the social media platform. Hence, every brand is focusing on social media marketing. Zepto is also not behind the race; it leverages the social platform to engage its audience through meme marketing.

    For the recently released movie ‘Avatar: The Way of Water,’ Zepto created a meme to grab the consumer’s attention by following the ongoing trend. It’s just one example, but if you visit Zepto’s social media page, you’ll find plenty of such memes.

    Zepto Strategy
    Zepto Meme Marketing | Avatar: The Way of Water

    Meme marketing is a trend today because people often share memes with their loved ones. This will help the brand get some organic reach and, at the same time, promote the brand. Zepto knows the power of memes very well. That’s why if you open their page on any platform like Facebook, Instagram, and Twitter, you’ll find amazing memes.

    Th has gained a lot of positive feedback from customers. Along with meme marketing, they sometimes collaborate with famous social media influencers to make videos for them. This tactic helps to create a loyal fanbase and also helps the brand image flourish.


    Zepto Business Model | How Zepto Makes Money
    Through this article, we will go over the basics of Zepto, including its business model and how it generates revenue.


    Micro-Moments Marketing Strategy

    Micro-moments are key moments in a customer’s journey where brands can influence buying decisions. Zepto understands this and focuses on sending the right messages at the right time to connect with customers. Studies show that over 150 billion mobile micro-moments happen every day, influencing more than 70% of purchases. Brands using this approach see a 74% success rate in increasing revenue.

    Customer Acquisition and Retention Strategy

    Players in the quick commerce industry like Dunzo, Swiggy Instamart, and Blinkit are well-funded and established. These big giants have already acquired a huge market share in the segment by offering huge discounts and other offers. So it was not easy for Zepto to acquire customers and retain them.

    Discounts are not the only things that attract consumers. Consumers are always hungry for something new, and exactly here, Zepto played its game. Acquisition of customers and retaining customers are two different things. Other players in the segment have easily acquired customers but struggled to retain them.

    Customers are used to switching platforms and ordering items from the app, where the discount is heavy. In the case of Zepto, it has given discounts and at the same time provided high-speed free delivery. It helps to enhance Zepto’s retention rate significantly.

    No other players in the segment were making that fast delivery. This eventually leads to an increase in Zepto’s consumer base.

    Digital Marketing

    Zepto uses digital marketing to reach busy customers with fast and targeted ads. They focus on social media platforms like Instagram and Facebook to promote quick delivery and special offers. Zepto also uses precision messaging or micro-moments to engage customers when they are likely to make a purchase. Through online campaigns, Zepto builds brand awareness and encourages customers to use their service for fast grocery deliveries.

    Referral Programs

    Zepto’s referral program plays a crucial role in its successful marketing strategy. The program offers unique codes to its users for sharing, which incentivizes both existing and new users with rewards such as discounts. This helps in cost-effective customer acquisition and increases customer retention. The program’s seamless integration with social media, multiple reward options, and gamification elements make it a dynamic and impactful tool for Zepto’s growth and customer loyalty.

    Beyond transactional benefits, Zepto’s referral initiative is a brand-building powerhouse, fostering advocacy and community engagement. By creating a positive customer experience and utilizing word-of-mouth influence, the program stands as a testament to the brand’s commitment to customer satisfaction and strategic marketing prowess.

    Partnerships with Influencers

    Zepto partners with social media influencers who create authentic content to showcase its services. This helps Zepto build trust, connect with specific audiences, and reach more customers. This approach has fueled rapid growth, with the company raising over $300 million in just one year, emphasizing its focus on long-term customer relationships.


    Kaivalya Vohra: A Visionary Entrepreneur Redefining Quick Commerce | Education | Personal Life | Zepto
    Discover the journey of Kaivalya Vohra, co-founder and CTO of Zepto. Find out about his early life, education, career, life at Zepto, future plans and more.


    Marketing Campaign of Zepto

    boAt, India’s leading audio brand, has teamed up with Zepto to bring high-quality audio products to your doorstep in just 10 minutes. This partnership combines boAt’s top-notch audio expertise with Zepto’s quick delivery, making it easier to enjoy music, movies, podcasts, and more. Whether it’s a party, a podcast, or binge-watching, boAt and Zepto ensure the perfect audio experience is just a tap away.

    Zepto Marketing Strategy – Featuring Usha Uthap, Kailash Kher, Shankar Mahadevan

    A marketing campaign is an integral part of any brand’s effort to increase its visibility and create brand awareness. The same is true for Zepto. In the IPL 2022, Zepto created and ran a marketing campaign that truly had a new approach.

    Most of the time, we have faced the issue of time stretching in different places like airports, hospitals, and restaurants. Because we usually wait for a long time in these places, it became quite common for us, but Zepto addressed this issue and showcased it in its campaign in such a way that, at the same time, it also represented the 10-minute delivery promise of Zepto.

    In this campaign, three famous singers—Shankar Mahadevan, Usha Uthup, and Kailash Kher—have given their incredible voices. Three ads have been created for this campaign with the voices of these three singers. They have stretched the time with their voices in such a way that it shows our habit of waiting. At the same time, Zepto implements its tagline of 10-minute delivery.

    L&K Saatchi and Saatchi created this campaign very beautifully, and the whole marketing campaign turned out to be a huge success for Zepto.

    Zepto Marketing Strategy – Jet-Set-Go

    In this brand campaign, Zepto has come up with a significant collaboration featuring renowned cricketer Jasprit Bumrah as the brand ambassador. Developed by L&K Saatchi & Saatchi, the ‘Groceries delivered at Bumrah Speed’ campaign embodies speed, precision, consistency, and rigor. This initiative not only introduces Indian audiences to cutting-edge special effects but also promises an experience comparable to the grandeur of cinema.

    The campaign’s focal point will be on Disney+ Hotstar, other leading OTT platforms, Zepto’s application, social media channels, and various digital platforms. Outdoor advertising will be prominently displayed across major cities where Zepto operates, ensuring widespread visibility and engagement.

    Zepto Marketing Strategy – Bus Mein Seat Nahi Milega

    Zepto’s ‘Nahi Milega’ brand campaign underscores its commitment, emphasizing that while life may present unattainable challenges, unlimited free deliveries on Zepto are certain.

    Zepto adopted an unconventional approach by introducing Uncle Ji, a character from Delhi, several weeks before unveiling their brand campaign. The intention was to disrupt social media with Uncle Ji’s distinctive personality, straightforward expressions of reality, and the recurring catchphrase ‘Nahi Milega’ (won’t be available).

    Zepto said Uncle Ji’s character achieved remarkable organic traction, accumulating 10 million impressions with a substantial 10% engagement rate across all social media platforms. Uncle Ji trended at #6 on Twitter and received endorsements from popular Twitter celebrities and Instagram meme pages, solidifying his status as a cultural icon in India.

    Zepto USP

    Zepto’s business model focuses on customers and offers instant delivery, setting it apart from competitors. The app is known for being the fastest, delivering groceries in as little as 10 minutes, with a claimed average time of 8 minutes and 47 seconds. When users place an order, it’s already on its way. Zepto also offers free shipping, unlike Amazon Fresh and Instacart, which charge delivery fees. Despite offering free delivery, Zepto doesn’t raise product prices and provides great discounts on groceries.

    Conclusion

    Zepto is a young startup, and it has achieved this success in a short period of time because of its incredible marketing strategy. Above are a few insights into Zepto’s marketing strategy that give you an overview of how a business can build a strong market presence and increase its visibility.

    FAQs

    What are the key components of Zepto marketing strategy?

    The key components of Zepto’s marketing strategy include its 10-minute delivery approach, advertising and branding tactics, and social media meme campaigns, all of which contribute to the company’s success.

    How does Zepto retain its customers?

    In the case of Zepto, it has given discounts and at the same time provided high-speed free delivery. It helps to enhance Zepto’s retention rate significantly.

    How does Zepto provide fast delivery?

    To fulfill its promise to deliver groceries in the specified time, Zepto introduced the concept of the dark store model. It is like a fulfillment center for Zepto that is not accessible to the public but efficient enough to rapidly fulfill orders.‌‌‌

    What is Zepto tagline?

    Zepto’s tagline is Groceries delivered in 10 minutes.

    What is USP of Zepto?

    Zepto’s USP is its ultra-fast delivery, providing groceries in as little as 10 minutes, along with free shipping and great discounts.

    What is Zepto pricing strategy?

    Zepto uses a competitive pricing strategy, offering groceries at affordable rates with minimal delivery fees to attract price-sensitive customers while ensuring fast delivery for added value.

  • Innovative Marketing Strategies of Forever 21

    In the era of Western Fashion, Forever 21 is no stranger! The very prominent apparel brand was founded by Do Won Chang and his wife, Jin Sook Chang. Forever 21 is an American-based brand, headquartered in Los Angeles, California, United States.

    In the beginning, the brand was called Fashion 21, which was later grown into a huge clothing line of shops under the brand names Love 21, Heritage, XXI Forever, and Forever 21. The American fashion brand was founded in 1984, and ever since its establishment, the company has seen immense success. In fact, today, Forever 21 owns over 550 stores across the globe.

    Forever 21 was established to offer a broad range of women’s clothing, but now, the brand has widened its categories and included various sections like Men, girls, kids, lifestyle accessories, and others.

    A huge fraction of the apparel manufactured by Forever 21 is from China and then exported to other countries like the United Kingdom, the Middle East, and the United States. The company functions with annual revenue of $4 billion. In this article, we will discuss the marketing strategies of Forever 21. Let’s get started!

    Product Marketing Strategy of Forever 21
    Target Marketing Strategy of Forever 21
    Pricing Strategy of Forever 21
    Distribution Strategy of Forever 21
    Promotion and Advertising Strategy of Forever 21

    Product Marketing Strategy of Forever 21

    Range of Products offered by Forever 21
    Range of Products offered by Forever 21

    Forever 21 has been around for a long time now, it offers a wide range of clothing in all categories for men, women, and kids. The brand has a very strong position in the global market with a diverse range of product portfolios.

    From kids to adults, you can find clothing for all ages. Its main target for clothing products is adults, kids, and toddlers. Forever 21 provides jeans, tops, jumpers, lingerie, and many other clothing products.

    Besides its clothing section, Forever 21 also provides accessories sections, including belts, ties, hats, gloves, sunglasses, and many more. Moreover, its jewelry section includes products like watches, body jewelry, pins, brooches, and others.

    Apart from this, Forever 21 also offers footwear products like loafers, wedges, sandals, boots, and heels. Forever 21 keeps its product range distinct and with great customer engagement.

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    Target Marketing Strategy of Forever 21

    Forever 21 puts its major focus on attracting women of all ages. Its products are specially designed in such a way that they satisfy the fashion sense and style of women, from teenagers to adults.

    Forever 21 is ranked at 121st position in the list of top 1000 Internet retailers in 2023 (according to Digital Commerce 360), This is a significant drop from its previous rank of 2nd in 2019. Around 45% of the brand’s entire online customers are millennial women.

    With these high-rated customers, Forever 21 makes a fancy annual revenue of around $4 billion, which certainly is a huge figure. And that’s why it mainly focuses on females from all categories. Although the brand does offer men’s collections, its major market revenue source is women.

    Rise and Fall of Forever 21

    Pricing Strategy of Forever 21

    Forever 21 is widely famous for its strategic pricing techniques. The brand offers great pricing deals according to the demands of the fashion product. Forever 21 is receiving great responses from the customers as well. Brand’s valuation in the global market is increasing by great percentages. The brand is one of the top fancied brands with its incredible marketing policies and strategic planning.

    Forever 21 is able to keep its prices low by controlling its costs. The company has a vertically integrated business model, which means that it controls all aspects of the production process, from design to manufacturing to retail. This allows Forever 21 to eliminate middlemen and reduce costs. Forever 21 often offers bundle pricing on its products. This means that customers can buy two or more products for a discounted price. This strategy helps the company to increase sales and reduce inventory levels.


    Top 9 most common pricing strategies employed by businesses in 2021
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    Distribution Strategy of Forever 21

    Forever 21 began its journey from Los Angeles, California, and today, the brand has spread across Europe, Asia, Africa, the Middle East, and America. The brand owns over 550 retail stores in 27 countries.

    In fact, Forever 21 has reached countries like India, Australia, Costa Rica, Japan, Brazil, the United Kingdom, and Germany. Forever 21 functions with very strategic distribution and marketing planning.

    With such an immense network, the brand is looking forward to establishing its outlets in Malaysia, Greece, Israel, and Russia.

    Forever 21 retail stores are well-designed and large, suiting its fashion styling. The brand has a huge networking channel for distributing its products and services across the globe. Its distribution network includes Suppliers, Vendors, and franchise owners.

    Promotion and Advertising Strategy of Forever 21

    Forever 21 carries a very strong social media presence in order to promote its services and products. It works on improving customer service and relations with all prospects.

    Forever 21 promotion strategies are entirely based on increasing the brand’s reach and capitalizing on its market share. Social media platforms like Facebook, Twitter, Instagram, and Pinterest have worked promptly towards enhancing brand awareness among the global audience.

    They also believe that marketing their children’s products vigorously is important. Bright colors and lively displays are used throughout Forever 21 stores to make them enjoyable and enticing to children. Kids are often exposed to the kids’ section of each store as soon as they enter because it is typically found at the front of the store.

    Forever 21 functions very strategically when it comes to advertising and promotions of the brand. Forever 21 popularity can be easily estimated from the number of followers the brand has on its official website. Its prominent advertising and promotions are done through social media channels.

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    Conclusion

    The marketing strategies of Forever 21 are pretty straightforward and reliable. The brand offers custom, fast-paced, and low-priced clothes to gather its audience and build strong customer support.

    Although the brand still requires a few improvements and alterations to the quality of its products, the quality isn’t resisting. Forever 21 offers a huge range of fashion clothes and accessories to its customers with great offers and discounts. And that’s what attracts more customers to the brand.

    Forever 21 always keeps up with the trends and prefers experiments on its products. Forever 21 is set for more uprise success flow in the upcoming year.

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    FAQ

    Does Forever 21 offer clothing for kids?

    Yes, Forever 21 offers clothing for kids. The company has a dedicated kids section on its website and stores.

    What is the target market of Forever 21?

    The target market of Forever 21 is young consumers and kids.

    What is Forever 21 marketing strategy?

    Forever 21 carries a very strong social media presence to promote its services and products.

    Who is the founder of Forever 21?

    Do Won Chang and Jin Sook Chang founded Forever 21 in 1984.

  • Comprehensive Guide to Analyse Your Competitor’s Marketing Strategy

    When you decide to begin with your own startup, there are a few things that cannot be avoided. You must have heard that there is a lot of competition when you thought of starting up your own business in that field. This is the time you need to realize that, you need to build up a new skill to land your startup in success.

    One of the skills is Analysis of your competitor’s marketing strategy is a skill which is extremely useful for any sort of business you might have entered. On the other hand, analysis of your competitor’s marketing strategy is a crucial step which if once analyzed, brings you halfway to your success. You need to make sure that you look outside the window and analyze what others are doing and know their strengths and weaknesses. In this article, we will provide you with a guideline on how to analyse your competitor’s marketing strategy. So let’s get started.

    What Is Competitor’s Marketing Strategy Analysis?
    What All Does This Analysis Comprise?
    Benefits of Competitor’s Marketing Strategy Analysis
    What Is the Process of Analyzing Competitor’s Marketing Strategy?

    What Is Competitor’s Marketing Strategy Analysis?

    Competitive analysis in simple words refers to– a well-structured evaluation of your business environment that includes the competitor’s company, it’s offering, and most importantly its marketing strategy. It is the art of knowing how well the other players of that particular field are doing in the market. Most importantly look for the spaces they are creating for you to grab the opportunity to dive into and come up better than them by providing something more valuable.

    What All Does This Analysis Comprise?

    Competitor’s marketing strategy analysis involves qualitative and quantitative data that is very crucial. The goals and missions of an organization depend upon it. Most importantly, how will the goals be achieved, i.e., what will be the strategy to effectively and efficiently achieve those goals is also formulated in accordance with the data collected. It involves answers to various questions like-

    • What are the competitors good at?
    • Where do the competitors lack?
    • How to make sure that they don’t steal away your customers?

    Benefits of Competitor’s Marketing Strategy Analysis

    Analysis of competitor’s marketing strategy is a crucial step for all businesses big or small. It must be done cautiously. As, it deals in the collection of the most important data, upon which the organization’s strategies are based upon. If done appropriately, it gives out plenty of qualitative and quantitative data that will help your own crucial business decisions. Analysis of Competitor’s Marketing strategy is important in many ways.

    Identify Opportunities

    Why choose your brand? This question plays a significant role in separating you from your competitors. A good analysis of a competitor’s marketing strategy gives you an insight into what unique would customers find in you. So that, they choose you over your competitors.

    Competitor’s marketing strategy analysis creates a significant opportunity to identify gaps through analyzing data. Create a new product category to bridge the gap between what your competitors offer and what the customers need.

    Know Strengths and Weaknesses

    You have a great opportunity to find out, where do the competitors lack by analyzing the collected data. Improve your product by capitalizing on competitors’ weaknesses customers complain about. It helps you create your own Unique Selling Proposition. You must learn from their mistakes and make sure that you do not repeat them at any cost. The focus must be on consistent learning and improvement simultaneously. By this, you can easily come up with a distinguishing identity in the market.

    Position of Your Business in the Long-Run

    As your brand expands, the expectations of your customers from you also increase. This opens up an opportunity for you to position your business in the long run. When you create a distinguishing identity. Through competitor marketing strategy analysis, you get a chance to get to know all their weaknesses of them, which is an edge for you over your competitors. You need to overcome all their mistakes that will help you position your business in the long run by creating a faithful image in the mind of the customers.

    You get to know what is going on in the market. It, therefore, helps you to keep with the pace and follow contemporary methods. You must eliminate the usage of obsolete and traditional marketing strategies. It helps you uncover market segments that aren’t fully served by competitors. You need to focus on that and work upon the loopholes of the competitors.

    Motivation

    By analyzing what your competitors are doing, you get to know their position in the market. They set a benchmark that helps you measure your standards and take corrective action wherever required. The presence of competition in the market gives the inspiration to work consistently. It gives a thrust to keep on striving to do better.

    What Is the Process of Analyzing Competitor’s Marketing Strategy?

    This guide on analyzing competitor’s marketing strategy works well for startup founders, entrepreneurs, business owners, marketers, etc. Including certain tips on where to look for data that isn’t publicly available, this guide consists of a step by step process of how to go about analyzing your competitor’s marketing strategy-

    Identify Competitors of Your Industry

    The first and foremost step is to determine who your competitors are. You need to pick the right competitors who are pitching similar products or services targeting a similar category of customers. To simplify, divide your competitors into two categories: direct and indirect.

    Direct competitors are those, who offer a product or service similar to that of yours who works as a substitute for yours operating in your same geographic area. Whereas, Indirect Competitors are those who provide dissimilar products that can be used as an alternative to satisfy the needs of the customer. You need to realize that Direct Competitors are to be paid more focused.

    Wondering how to identify direct competition? Here are the steps to follow-

    • Analyze search engine results (SERPs) for similar product queries.
    • Have a look at the market share analysis.
    • Have a check on who is sourcing products from the same suppliers/wholesalers as per your plan.
    • Keep a note of brands that use your target buyers the most.

    Determine What They Offer

    Product or services offered is where the heart of any business lies. Therefore, it is the best place to start with. A deep analysis of the competitor’s complete product line or services offered must be done. Along with this, there must be an eye upon attractive benefits that they offer along with the product and service which tends to attract their customers.

    Analyze Their Tactics

    Existence in this competitive market is quite difficult. Certain tactics are used by market leaders to achieve heights. Therefore, the focus must lie on the following questions-

    · What does the sale procedure look like?
    · What are the channels of distribution used by them?
    · What are the tactics that earn them the most advantages?
    · What are their customer relationship management techniques?
    · What are the lucrative offers they offer to their customers?
    · How do they manage interpersonal relations?

    These are a few helpful pieces of information that give you an idea of the tactics that the competitors apply. By knowing this, you can get an idea about how to go about to form own strategies.

    Analyze Their Pricing Strategy

    Price is the most important element. It is the value that the customer pays for the product or service. Pricing must be done very carefully as it depends upon certain major factors. Due care must be taken upon how the competitors tackle those factors and price the offerings.

    Determine Their Marketing Strategy

    The productivity of businesses depends upon the marketing strategy that is used. There must be knowledge of marketing strategies being applied by other players in the market. With the advent of technology, most businesses use the internet for marketing. The online world opens up the doors to meet a vast audience. Observe the competitor’s website, the way of content marketing, social media marketing, etc.

    Use Spying Tools to Know Your Competitor’s Strategies

    Various online tools and methods are available online which help you be aware of your competitor’s strategies. Spying tools can be of great help for this. One of the popular spying tools is AdSpyder. It helps you spy on your competitor’s ad strategies on different platforms. The platforms include Facebook Google, Youtube, and Instagram, and also search engines like Yahoo and Bing.

    AdSpyder – Spying Tool

    Perform a SWOT Analysis

    SWOT Analysis is a great tool to envision how to get an edge over other businesses. SWOT stands for Strengths, weaknesses, opportunities, and threats. When you have an overview from all these perspectives, you are on the right path to success. The analysis must comprise of following areas which are not exhaustive-

    · Customer experience
    · Online marketing strategies
    · Pricing strategy
    · Content strategy
    · Promotion strategy

    Conclusion

    The main objective of this article is to pay attention to the opportunities that the competitors are missing. One must learn to take advantage of the competitor’s weaknesses through the strengths of own. The market is highly dynamic which demands routine running of the competitor’s marketing strategy analysis. Competitor’s analysis is a multi-facet process, which if well-executed can land you towards productivity.

    FAQs

    What is Competitor’s Marketing Strategy Analysis?

    It is the art of knowing how well the other players of that particular field are doing in the market.

    What is the importance of Competitor’s Marketing Strategy Analysis?

    Analysis of competitor’s marketing strategy is a crucial step for all businesses big or small. It is important in many ways.

    How to Position a business in the long run?

    Business need to overcome all their competitor’s mistakes that will help you position your business in the long run by creating a faithful image in the mind of the customers.

  • All About Defensive Marketing (With Examples)

    There are four main types of marketing techniques that are being commonly applied these days – offensive marketing, defensive marketing, guerilla marketing, and flanking marketing. Among these, defensive marketing is known to be the most revered one due to the low risks attached to it. Read on to know everything about defensive marketing and some well-known examples too!

    What is Defensive Marketing?
    Top 3 Types of Defensive Marketing
    Pros and Cons of Defensive Marketing
    FAQ

    What is Defensive Marketing?

    As the name suggests, defensive marketing incorporates a protective approach towards the consumers, irrespective of the skyrocketing competition. Once this mode is put into practice, much of the experimentation processes come to a halt. It is essential to understand that the company’s actual “defense” is regarding its position in the market, not the products sold.


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    Top 3 Types of Defensive Marketing

    The following three types are the best way to provide a deep insight into the core aspects of defensive marketing. Whichever form is applied, the test remains the same – the status of the company should not be degraded due to fluctuations in the market. This categorization is solely based on the means applied. They can be applied individually as well, based on the needs.

    Position Defense

    The existing position of the respective company in the market is to be maintained at any cost. One of the most important strategies applied is the deepening of all old bonds catering to customer satisfaction. This one is more prone to be the victim of offensive players.

    Mostly, a single best-selling product is set as the focus. Accordingly, other parameters are modified to suit the economic conditions while building the brand name continuously.

    Example of Position Defense

    The automobile giant Mercedes prefers to stick to the same routine, irrespective of similar attempts being made by Toyota.

    On the other hand, Apple does not focus on increasing the RAM of iOS devices by copying other brands. This helps the tech-savvy people rely on the quality.

    Ultimately, the standards remain high and the position does not plummet at all.

    Mobile Defense

    A lot of changes are made in the direction of “not losing the current position”. The steps taken are mostly for backing up the company so that the diversity in products helps in compensating at all levels. The changes include broadening the target market, enhancing promotional mechanisms, adding more products to the catalog, and altering market segments each time.

    Example of Mobile Defense

    The widely known Indian Tobacco Company (popularly abbreviated as ITC) forms the best example for this category of developmental defense marketing. ITC has spread its scope to food ventures (the daily essential Aashirvaad wheat), and other significant commodities. Agribusiness is also a new inclusion, leading to even more profits with the increase in demand.

    Counter-Offensive Defense

    It is not just an exclusive type of marketing, but also another way of promoting defensive strategies. The simplest way to defend the position is to nullify the various downgrading attempts made by attacking companies. Mainly, the attack is dodged in such a way that it turns beneficial for the recipient company. Prices are reduced and products are improved.

    Example of Counter-Offensive Defense

    Almost all beauty brands have incorporated organic products in order to suppress the increasing popularity of purely organic brands. This increases the range and helps them grow at the same time. If the organic companies begin including synthesized products to tackle this attack, this would be regarded as a counter-offensive move in the direction of probable profits.


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    Pros and Cons of Defensive Marketing

    Pros of Defensive Marketing

    • The quality is top-notch due to reduced modifications.
    • Customer satisfaction is ensured at all levels.
    • The scope of devaluation is increased.

    Cons of Defensive Marketing

    Conclusion

    Now the doubt is – how is it a breakthrough? In such uncertain times, taking calculated risks has become the new norm. In other words, defensive marketing is an apt real-life depiction of how an investor or strategist looks before leaping. It is widely believed that this type of marketing is widely being used to balance the economy and maintain the flow of incoming ideas.

    FAQ

    What is the difference between defensive marketing and offensive marketing?

    In defensive marketing, the organization focuses on its own betterment while offensive marketing techniques are driven by downgrading principles.

    The trends can be easily identified through a budget decline, use of media in promotions, propagation of defensive newsletters, and much more. These trends help in further streamlining the strategies so that the past mistakes do not overpower the sudden change in marketing technique.

    What are the top strategies useful in the implementation of defensive marketing?

    There are five Ps that make defensive marketing successful – pricing, partial distribution, product improvement, prudent advertisement, and the powerful awakening of the market. They help in managing even the most obsolete brands and making them shine in no time.