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Tag - 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 [...]

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 [...]

Understanding Strategic Planning

What is Strategy? Strategy means consciously choosing to be clear about your company's direction in relation to what's happening in the dynamic environment. The fine points of strategy are as follows: Establishes unique value proposition compared to your competitors Executed through operations that provide different and tailored value to customers Focuses on activities that fit together and reinforce each other Drives continual improvement within the organization and moves it toward its vision A strategic plan is the formalized roadmap that describes how your company executes the [...]

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 [...]

7 Ps of Services Marketing Mix

Services Marketing Mix Traditional marketing mix was developed by keeping in view the goals of marketing. This also may be adapted to services marketing. The use of traditional marketing mix in service organizations cannot satisfy themselves because as they are to stay at sub-optimal performance in marketing. Slightly adapting marketing labels cannot resolve the problems that are affiliated with the marketing of services. The four Ps (product, price, place & promotion) are said to be controllable variables of the traditional marketing [...]

Service Differentiation in Marketing

Service Differentiation The concept of being different is very much essential in today’s world of cut-throat competition. The difference of one product from its competitor is the revenue that it earns. Products have to be different in order to survive the competition. It is not just the domestic competition but also the competition from and in abroad, as one country produces and sells in another country while some other countries produce and sell in our country. The targeted customers have [...]

Market Research Techniques

Market Research Market Research is a process of investigating and answering the questions about human behavior. The key role of the market research function in an organization is to provide reliable evidence which will help managers take better decisions. Market Research Techniques This aspect of marketing is seen differently by managers as the real marketing. Such Market Research is seen as difference between marketing and selling. Market Research is analogous with listening. Conventional theory of selling is about the salesman talking. But, [...]

Marketing Assignment Help

Marketing Assignment Marketing is a Management practice which is used to identify the customers’ needs and wants. It is a process by which the customers’ needs and wants are taken and a suitable product, tailor-made to the specifications of the customers is produced. Philip Kotler, who is one of the foremost authorities in the field of Marketing, defines Marketing as a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products [...]