McKinsey’s consumer decision journey can help to model how your customer comes to the moment of purchase and discover what makes buy Based on empirical research, in 2009, McKinsey & Company suggested a dramatic alternative to the traditional purchase funnel. Their research was founded on interviews with 20,000 businesses in the USA, Germany and Japan. […]
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Examples and Tips for using AIDA in the real world The AIDA model is perhaps the best known marketing model amongst non-marketers of all the classic marketing models. Many marketers find it useful, perhaps since we apply it daily whether consciously or subconsciously when we’re thinking how to make our marketing communications effective. What is the AIDA model? The
An example of reviewing your marketing capabilities using the McKinsey 7S framework The McKinsey 7S model is a useful framework for reviewing an organization’s marketing capabilities from different viewpoints. Developed by Tom Peters and Robert Waterman during their tenure at McKinsey & Company in the 1970s, this model works well in different types of business
Learn how the PESTLE analysis model can help you assess your business’ place in a variety of environments PESTLE is one of a well-known series of acronyms used in business and marketing planning which summarizes how to review the broader forces, sometimes known as the ‘macro-environment’, that can shape a business. What does PESTLE stand for?
Learn how you can use the Product Life-cycle model to project changes in the perception and use of your products The Product Life-cycle (PLC) describes the stages of a product from launch to being discontinued. It is a strategy tool that helps companies plan for new product development and refine existing products. What are the
Chart of the Day: Strategies and practical factors that support growth of a business – new research The Ansoff matrix growth drivers The Ansoff matrix model is a classic marketing model featured in our free top marketing models guide. Although developed in the 1960s, Ansoff is still useful for considering, at a top level, the strategic
Using The Ansoff Matrix to identify growth opportunities What is the Ansoff Matrix? This model is essential for strategic marketing planning where it can be applied to look at opportunities to grow revenue for a business through developing new products and services or “tapping into” new markets. So it’s sometimes known as the ‘Product-Market Matrix’
What is the 7Ps Marketing Mix and how should it be used? The marketing mix is a familiar marketing strategy tool, which as you will probably know, was traditionally limited to the core 4Ps of Product, Price, Place and Promotion. It is one of the top 3 classic marketing models according to a poll on
Examples of using the BCG Matrix (Growth Market Share Matrix) to review your product portfolio What is the BCG Matrix? The Boston Consulting group’s product portfolio matrix (BCG matrix) is designed to help with long-term strategic planning, to help a business consider growth opportunities by reviewing its portfolio of products to decide where to invest,
How to use Segmentation, Targeting and Positioning (STP) to develop marketing strategies Today, Segmentation, Targeting and Positioning (STP) is a familiar strategic approach in Modern Marketing. It is one of the most commonly applied marketing models in practice. In our poll asking about the most popular marketing model it is the second most popular, only
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