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Marketing

Tips for writing SWOT analysis for a company

SWOT analysis is a tool used by businesses to evaluate their Strengths, Weaknesses, Opportunities and Threats. SWOT analysis can help a business to weigh all its present, past and future opportunities, strengths, weaknesses and threats in such a way that it can help not only in evaluating them but also to solve some of its problems and serve its customers better. SWOT analysis can be used by any business in any situation. SWOT analysis is mostly used by marketing division [...]

The importance of Branding in Marketing

A brand can be defined as a name, term, sign, symbol, or design or a combination of these in order to identify and differentiate the goods and services of one seller or groups of sellers easily from others whose market offerings are same. Branding is not done to get the target market or to increase sales of the product or service but to communicate the characteristics, values and the attributes of product or service which clarify what is the [...]

Consumer Behavior in Marketing

Consumer behavior in marketing is the study of and understanding of individuals, groups or organizations and their interests for particular products and services. Consumer behavior is also about the psychology of consumers which is translated into what is the basic need of the consumer, how does a consumer feel about a product, what the factors that affect the process of selection between various other alternatives and the external market factors that influence the perception of a particular product or [...]

Market Segmentation

Market Segmentation Marketing In conventional marketing, ie marketing of 20th century, concentrated more on mass selling. A million mill produced products being sold to millions of people out there. But, in the 21st century, this scenario has been changing. Sales of many popular products suddenly started falling which required a change in the way each product was being depicted. That’s when market segmentation emerged on the horizon. Market segmentation is an important concept because it lets the business segregate a broad [...]

STP Strategies and Decision Making

STP Strategies STP strategies are so called because they represent a sequence of actions. These are Segmenting, Targeting and Positioning. These strategies are very much important in marketing as they determine the product of the company, the target market in which the product is released the positioning the product in the market. STP or Segmentation, Targeting and Positioning can be regarded as one of the best strategies for designing a product. STP Strategies and Decision Making Segmentation is one of the most primary activities of a company. [...]

Significance of Information in Marketing

Significance of Information in Marketing Markets and the companies operating in markets are linked by information. Increase in the amount of information available to the companies can lead to the complex decision making environment. Lack of proper information at the company’s end will make the process of decision making a mere guess work. Though guess work is a cheaper way of decision making, it comes with a great price. One wrong decision can lead to major mistake and even the [...]

Target Market Selection Assignment Help

Target Market Selection The marketer develops a complete profile of the various segments found in the market, one or more is selected for a concerned marketing effort. This is known as market targeting. How to select potential target markets For effective targeting of market segments, segments must conform to the following criteria. Identification: Markets segments should be of such a nature that it is easily identifiable. Segmentation variables based on geographic or demographic information is easily identifiable, where psychographic information like lifestyle, activities [...]

Market Segmentation: An important marketing strategy tool

Market Segmentation in Marketing The starting point of segmentation is mass marketing. In mass marketing, the seller engages in mass production, mass distribution and mass promotion of one product for all the buyers. Henry Ford epitomized this strategy when he offered the Model-T Ford in one color, black. Coca-Cola also practiced mass marketing when it sold only one kind of Coke in a 6.5 ounce bottle. The argument for mass marketing is that it creates the largest potential market, which leads [...]

Sales Promotion in Marketing Management

Sales Promotion  The term Sales Promotion means an action which increases the capacity of sales. In words of Bonne, E Louis and Kurtz, L. David, “it applies to assorted and non recurrent and somewhat extraordinary non-personal selling efforts”. Several authors have defined Sales Promotion as a non-personal selling and it is also known non-recurring promotional efforts. Sales Promotion in Marketing Management Related Objectives of Sales Promotion: It is a manager’s responsibility to specify the required promotion objectives and policies. Though Sales Promotion and [...]

Product life Cycle Management

Product Life Cycle Product life Cycle Management makes it possible to instruct the whole lifespan of a product and information related with it. Effective product life cycle management enables companies to compete successfully in international and global markets. What is a product? It is usually believed that a product means tangible goods. The term goods refers to physical, tangible products that can be owned traded and distributed to different places at different times without changing their identity. A product however in this [...]