Tag Archives | Marketing

Steps of Marketing Research Process

The process of marketing research includes the following steps: 1. Defining the Problem or Need 2. Determining who will do the Research 3. Picking out the Appropriate Methodology 4. Data Collection Process 5. Data Preparation, Tabulation and Analysis of Results 6. Presentation and Report Generation. Marketing Research Process Steps Marketing Research Process – 5 Steps (With Examples) The marketing research [...]

By |2021-01-06T16:27:11+00:00January 6, 2021|Marketing Strategy|Comments Off on Steps of Marketing Research Process

Direct Marketing

Direct marketing is a database-driven process of directly communicating with targeted customers or prospects using any medium to obtain a measurable response or transaction via one or multiple channels. Direct marketing involves direct contact with the customer, but to achieve that, companies must invest in updated databases and must maintain measurable responses from customers. Thus, a direct marketing firm does [...]

By |2020-07-01T13:04:38+00:00July 1, 2020|Direct Marketing|Comments Off on Direct Marketing

Marketing Concept

Marketing concept is customer orientation backed by integrated marketing aimed at generating customer satisfaction as the key to satisfying organisational goals". "The marketing concept is a corporate state of - mind that insists on the integration and co-ordination of all marketing functions, which in turn are welded with all the other corporate functions, for the basic objective of producing maximum [...]

By |2020-05-16T17:19:44+00:00May 16, 2020|Marketing|Comments Off on Marketing Concept

Types of Advertising Media

There are many choices available to the advertiser for the media. Effectively mixing these media is an important part of designing quality advertising. To do so the advantages and disadvantages of each individual medium should be understood so that the advertising campaign features successful combinations.   Some of the types of advertising media are:- 1. Mass Media 2. Print Media [...]

By |2020-05-16T17:19:44+00:00May 16, 2020|Advertising Media|Comments Off on Types of Advertising Media

Market Segmentation

Market segmentation is the process of partitioning markets into groups of potential customers with similar needs or characteristics who are likely to exhibit similar purchase behaviour. Market segmentation represents an important recent advance in marketing thinking and strategy. In earlier years many business firms saw the key to profits to be in the development of a single brand that was [...]

By |2020-05-16T17:19:43+00:00May 16, 2020|Market Segmentation|Comments Off on Market Segmentation

Marketing Environment

The market environment is a marketing term and refers to factors and forces that affect a firm's ability to build and maintain successful relationships with customers. Three levels of the environment are - [a] Micro (internal) environment - small forces within the company that affect its ability to serve its customers, [b] Meso environment - the industry in which a [...]

By |2020-05-16T17:19:28+00:00May 16, 2020|Marketing Environment|Comments Off on Marketing Environment

Marketing Information System

A Marketing Information system (MIS) is "a system that analyses and assesses marketing information, gathered continuously from sources inside and outside an organisation". Marketing Information System (MIS) provides managers and other decision makers with continuous flow of information about markets, customers, competitors, and company operations. A Marketing Information System (MIS) is a set of procedures and methods designed to generate, [...]

By |2020-05-16T17:14:27+00:00May 16, 2020|Marketing Information System|Comments Off on Marketing Information System

Sales Promotion: Definition, Meaning, Techniques, Importance and Advantages

Sales promotion is an action which increases the volume of sales. In a broad sense, the term 'sales promotion' refers to promotion because all the activities of personal selling, publicity, ad­vertising and sales promotion lead to the enhancement of sales. However, the meaning of sales promotion has been technically defined to include display, demonstration, contests and trading stamps. Philip Kotler [...]

By |2020-05-16T17:13:46+00:00May 16, 2020|Sales Promotion|Comments Off on Sales Promotion: Definition, Meaning, Techniques, Importance and Advantages

Product Life Cycle Stages

Like human beings products also have a life span. The product life cycle begins when after going through the various stages of development it is introduced into the market for the first time on a commercial basis. After its introduction it passes through various stages till it is finally abandoned i.e., discontinued from the market. The product life cycle, helps [...]

By |2020-05-16T17:13:46+00:00May 16, 2020|Product Life Cycle Stages|Comments Off on Product Life Cycle Stages

Consumer Behaviour

"Consumer behaviour may be defined as that behaviour exhibited by people in planning, purchasing and using economic goods and services. If the marketing executives possess an adequate understanding of consumer behaviour, the overall effect of their marketing effort would be enormously successful.” Consumer behaviour is the decision process and physical activity individuals engage in when evaluating, acquiring, using, or disposing [...]

By |2020-05-06T14:39:47+00:00May 6, 2020|Consumer Behaviour|Comments Off on Consumer Behaviour
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