Bussiness Ideas

Bussiness Ideas Owner Naman Mahajan

Precision marketing involves asking four questions—who, what, when, and how—to create a sharply effective marketing strategy.

ABN, a bank wishing to court wealthy Dutch customers, created a lounge at Amsterdam’s Schiphol Airport for the exclusive use of its Preferred Banking clients (account holders with savings or investments exceeding €50,000, or a monthly income exceeding €5,000). The elite lounge was open daily from 6 am to 10 pm, providing meeting space, internet access, refreshments, foreign currency exchange, and a place to relax amid the rush of traveling. With this project, ABN showed a clear understanding of precision marketing: Bussiness Ideas Owner Naman Mahajan

• Who its customers were: comfortably wealthy individuals traveling from the Netherlands.
• What they wanted: a place to enjoy relaxation and luxury when traveling.

When they wanted it: between 6 in the morning and 10 in the evening, when the majority of fl ights depart and arrive. Bussiness Ideas Owner Naman Mahajan

• How to deliver it: creating an exclusive lounge that provided the amenities valued by affl uent travelers.

What makes precision marketing special is its ability to reach its target audience and to meet their preferences in a memorable way, promoting a robust product that can withstand competitors. Bussiness Ideas Owner Naman Mahajan

• Make sure you target the right market by gaining access to reliable market research—for example, via web marketing. Precision is the vital element of precision marketing!
• Hold brainstorming sessions where each of the "four questions" of precision marketing are considered in depth. Bussiness Ideas Owner Naman Mahajan
• Consider what precision marketing strategy you would realistically be able to carry out that surpasses your competitors’ current efforts. Many organizations are familiar with the challenge of maintaining productivity and profitability when the industry is threatened— whether that threat comes from global unrest, supplier shortages, or simply the presence of increasingly threatening competitors.

Among notorious examples of companies that have been unable to cope with such challenges, the case of Air France is a refreshing success story. The example of Air France is all the more impressive given the significant, continuing pressures faced by the airline industry. In common with other established carriers in Europe and North America, it found traditional markets threatened by increasing security concerns, the downturn in the airline industry, and the rise of low-cost carriers. To remain competitive, Air France paid special attention to four techniques:

• Reacting rapidly: Air France’s main decisions following the 9/11 crisis were taken on September 18, 2001; they were later adjusted and developed, but the new strategy was developed and implemented quickly.

Acting collectively: the board meets to react quickly, considering how best to respond to events and how to coordinate its response.

• Constantly looking at all competitors: this keeps the business lean and focused on what matters. In France, there has been an established lower-cost competitor since 1981—the TGV high-speed train. This has meant that many of the disciplines needed for competing with low-cost operators have been developed over many years.
• Using all available resources: competing has meant employing all of the assets and advantages that a big industrial carrier has in order to counter low-cost operators—including brand, market position, and operational strengths. Often a competitor’s strategy is to build market share with temporary low prices and then to raise them. An active and patient approach can help to reduce or remove the threat of competitors.

In practice • Actively communicate your brand values—what it is that makes your organization and product special and preferable.

• Benchmark your business against other organizations.
• Meet with customers and understand their perceptions and needs.
• Understand, strengthen, and preserve the causes of success in the business.
• Find out why customers prefer you to your competitors.
• Review competitors’ strengths and weaknesses regularly. Develop an action plan that, over time, will minimize these strengths and exploit weaknesses.
• Develop and refine products and the tactics used to sell, taking into account your understanding of the competition.
• Find ways to enhance your marketing and your offer. Keep it fresh, appealing, targeted, and distinctive.

Bussiness Ideas Owner Naman Mahajan

My Self Naman mahajan I am Profession Multimedia Artist and Digital marketing Expert With that I am doing web devlopment also, i have experience in freelanceing also from various country.