Category Archives: Marketing

Working With Segments and Target Markets

Have you ever wondered how big and small companies gather their customer base?  With all the people in the world, how do companies select to whom market?  Larger companies use mass marketing to market their products, while smaller companies use market segmentation. What is Market Segmentation? Market segmentation is the process of dividing a market Read More…

Fundamentals of Marketing

Marketing is a word often thrown around as an umbrella term for a wide variety of functions within organizations, ranging from the running of social media accounts to inside sales, and anything in between. Marketing and Value Proposition The truth of the matter is that a successful marketing strategy is deeply rooted in a firm’s Read More…

Ethical Issues in Marketing

Ethics are a code of values and principles that govern the actions of a person regarding what is right versus what is wrong. They determine our behavior when we are faced with a moral dilemma and are subjective, in which they vary from person to person depending on their point of view. Because they’re subjective, Read More…

Consumer Behavior

Consumers play an integral part in the marketplace.  They are the ones who purchase the products and, often times, they inform the kinds of products that are produced by other groups.  This is where the concept of consumer behavior comes in: what drives customers’ purchase decision-making, and how do they use the products and services Read More…

Planning and Evaluating Business Advertising

Planning advertising for any business is nothing to be taken lightly. Advertising, after all, is the method by which a business gets its message out to the world. How, and how well, a business advertises its products or services can, and does, make the difference between business success and business failure. Thus, planning and evaluating Read More…

Personal Selling

Collectively, as a society, we are provoked everyday to buy something for various reasons.  For instance, we see an ad on TV for a car; we’ll go into the dealership and grab some information about the car, with the objective being to purchase the car.  By seeing the ad on TV, that is the business Read More…

Classification of Products and Services

Clearly no two products are exactly alike and therefore each merits a unique marketing strategy. However, certain products carry similar characteristics in terms of price level, similarity between competing brands, and the way consumers approach them in the buying process. It is often useful to group these similar products into categories in order to help Read More…

Pricing Strategies

One of the most crucial aspects of developing a marketing strategy is determining an approach to pricing. A company could have a great product and a fantastic promotion campaign, but could still fail if the price isn’t right for customers. On one hand, too high of pricing could repel value-seeking consumers resulting in poor sales Read More…

The Product Life Cycle

Humans and animals have standard life cycles—a series of stages of living that each passes through before death. For people, these phases could include infancy, childhood, adolescence, adulthood, and retirement. Products also move through a series of phases throughout the duration of their lives called the “product life cycle”. The four stages included in the Read More…

Marketing Plan – Purpose, Elements, and Design

Marketing is a cornerstone in the success of any organization. However, successful marketing is not as wide spread in large part due to the lack of a marketing strategy and marketing plan. To ensure marketing is successful for an organization, companies need to compose long-term marketing strategies promoting their goals with specific actions. A short Read More…