Peruvian entrepreneurs are more practical than theoretical. Most of them have learned on the court, with the experience and some family-business training. If you are one of them and have not had the opportunity to go to school for marketing but many times have you heard this word and the supposed benefits having regard to our small business, we recommend you read these 5 concepts that are very important today for our company.
Branding
It is the process by which land developing a brand. It consists of 5 elements:
- Naming: name creation.
- Corporate Identity: refers to all visual aspects added to the essence of the brand that identify an organization.
- Positioning: It is the mental perception that a person has towards a brand.
- Brand loyalty: Refers to the high probability of purchasing a product and repetition of this action.
- Brand architecture: It is what defines and reflects how a company structures its brands, products, and services.
Top of mind / Top of heart
Top of Mind: Is one brand that occupies a special place in the memory of people. For example if you say, "Tell me the name of a gas" and the first thing that comes to mind is "Coca Cola,” that's your top of mind. Is what most remember and instantly, but beware, this will not always be your concerns over gas or favorite author.
Top of Heart: this brand also occupies a privileged place in the mind of the public, but the difference is that there is a bond of loyalty that involve emotional factors much earlier than rational or intellectual.
Also called SWOT (strengths, weaknesses, threats, strengths and opportunities) in English or SWOT (Strenghts, Weaknesses, Opportunities, Threats) is an analytical framework that can be applied to a person, product, company, etc... With this, you can get an accurate diagnosis to set objectives and policies. Some examples:
- Strengths: Good quality of product, experience of human resources, cutting-edge equipment.
- Opportunities: market poorly attended weak competition.
- Weaknesses: bad financial situation, little ability to access credit.
- Threats: increase in input prices, labor conflicts.
Marketing Mix
It is a strategy analysis internal aspects that companies make to analyze four important variables: the product (which is sold to satisfy a need), price (how competitive is the market), distribution (which is the route that has product) and promotion (what company makes efforts to spread the product and increase sales). It is also known as the "4P's.”
Target or Target Audience
Is the market segment that guides our product or service? Usually defined with variables such as age, gender, socioeconomic status, etc... Each target will require different efforts to reach him, different tone of communication, language, etc...
What did you think these concepts? Already the know?
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