Africa is pitted to be the next frontier of economic growth, but little is known about how best to market products on the continent. The answer could lie in adapting marketing strategies to local sales cultures.
While sales and marketing are two of the most influential branches of any company, they are traditionally viewed as being misaligned in a number of key areas. Understanding the reasons behind this could lead to huge benefits for businesses everywhere. High alignment between functional departments largely guarantees increased performance.
Stop rolling your eyes when your friend posts yet another picture of their dinner on Facebook â€“ they're probably enjoying their food more than you realize. And it presents a great opportunity for marketersâ€¦ Taking pictures of our food (foodtography) is extremely common nowadays. Over 64 per cent of Americans own a smartphone and more than 60 per cent of these people use the camera on their smartphones at least once a week.
An organization's identity and reputation are intangible assets that can positively influence everyday aspects of the business, including culture, core competencies and financial performance. It also has an impact on the company's ability to attract employees, investors, customers and business partners.
Market position is everything when it comes to any company. However, it becomes even more crucial in the case of start-ups and SMEs, where a company is striving to create a name for itself. Although it might seem like a far-fetched idea, particularly in relatively smaller niche areas where SMEs and start-ups are most commonly found, collaboration between SMEs in terms of gathering market intelligence, sharing knowledge, information and other resources could benefit companies in the long run, and boost profit margins.