GIST MANAGEMENT

Everlane’s transparent pricing breakdown shows the true cost of materials, labour, and co. HOW PRICING SHAPES BRAND EQUITY & CUSTOMER LOYALTY We have already seen that fair and thoughtful pricing strengthens the brand and promotes customer loyalty in the long term. And that’s basically what brand equity means. What is brand equity? Brand equity refers to the intangible value of a brand, which is made up of factors such as brand awareness, trust and perceived added value. A strong brand with high brand equity can generally command premium prices. Interestingly, pricing itself also plays a role in establishing brand equity. If your brand is perceived as high quality, a higher price will reinforce this image. On the other hand, frequent discounts or prices that are too low can dilute brand equity and make the brand appear inconsistent or even desperate. What is price elasticity? Price elasticity is a concept that is closely linked to brand equity. It measures the extent to which d...

Prepared by GIST Management What is a Document Management Workflow? A document management workflow is a process for creating, handling, storing, and retrieving documents that are relevant to your projects. It involves multiple stages and may include review and approval steps where specific individuals need to approve documents before they proceed to the next step.  A properly implemented document management workflow ensures that documents are accessible to the people who should see them and inaccessible to those who should not, according to any relevant compliance and regulatory standards.  Why are Document Management Workflows Important? Document management workflows are very important for these reasons:  Efficiency:  Streamlining the creation, storage, retrieval, and management of documentation reduces the time and effort spent on document handling. When done well, everyone who should know about the project knows where to access the documents and doesn...

The marketing models: valuable tools to make better strategic decisions Professionals must handle the appropriate tools to take approachment decisions. Even if some of the most popular models are (quite) old, they are still on the top managers’ list. For example, we can think of the SWOT analysis or the BCG matrix. Important decisions are those  crucial steps  that can influence the future of a business. And fully understanding where we (as an organization) stand is key. Indeed, organizations evolve in a  complex and changing environment  where both internal and external factors have a strong impact. In that challenging context, marketing models are  essential tools  to identify and understand these factors. And this is the reason why these models are so useful: they allow all the vast quantity of information available to be gathered, structured, processed, and analyzed in a comprehensive manner. In other words, the marketing models are tools which ...

7 Skills that Marketing Executives Use Every Day. Most marketing managers work full time. Over the course of a day, week or month they are likely to use a variety of skills to meet business objectives. The first six skills discussed below come from the GIST’S list of important qualities of advertising, promotions and marketing managers. 1. Analytical skills If you’re wondering how to become a marketing manager, analytical skills can help you plan effective marketing campaigns. The ability to synthesize, analyze and draw meaningful insights from data will be beneficial in this career. 2. Communication skills Strong communication skills can benefit anyone in a management position. Marketing executives should be able to effectively communicate with teams, including subordinates and coworkers, throughout the marketing process. You also may need to persuasively communicate to sell products and/or services. 3. Creativity Creativity can be a beneficial skill for marketing director...

Output and Outcome To clarify the difference between these two terms right from the start, here is a short definition of each: An  output  describes the result of an activity. For example, if a music streaming service, such as Spotify, launches a new feature, this is referred to as an output. The output does not yet indicate what added value the user or customer will experience. An  outcome  is the actual added value of the output for the target group. To stay with the example of Spotify: Thanks to the newly-released feature, listeners are now able to save their favorite songs more easily. A real added value has been created and the outcome resulted from the output. The term  business impact  is also frequently used in connection with output and outcome. In a sense, it goes one step further. Business impact describes how customer value can be translated into business value. It is usually indicated through KPIs. In summary, this means: Thank...