This article describes Market Segmentation is a tool companies can use to personalize marketing to a target audience, as well as some of the major tools of Market Segmentation.
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. This article contains information about the marketing mix, different marketing channels, and how the internet affects marketing.
Ethics are a code of values and principles that govern the actions of a person regarding what is right versus what is wrong. Ethics appear in all facets of daily life, including how products are marketed to the general public. Read this article to learn about how ethical issues have impacted marketing, what ethical standards are like in the international market, and more.
Understanding human behavior helps us gain insight into what drives customers’ purchase decision-making, and how do they use the products and services that they obtain. Read this article to learn about different kinds of consumer behavior, the different types of consumers in a population, and strategies to connect with the customers.
Planning and evaluating advertising is essential for businesses since it is the way the company communicates with the outside world, and can make a big difference in their success. This article addresses the four core factors to consider when planning and evaluating advertising: connecting with the customer, adhering to legal and ethical norms, the methods of communication with customers and measuring advertising effectiveness.
Personal selling is when businesses use people to “sell” the product to a customer face-to-face. These sales people promote the product with every aspect of themselves. This article contains the basics you need to know about the steps of personal selling, how technology and culture affect personal selling, and the ethical issues that can be involved.
The classification of products and services is a process that groups together certain products/services that carry similar characteristics in terms of price level, similarity between competing brands, and the way consumers approach them in the buying process. This article will describe characteristics of goods in each category, provide examples, and discuss relevant marketing strategies.
Effective pricing strategies are essential for the success of a product, and by extension a company in general. This article will discuss how the forces of supply and demand impact pricing and the concept of price elasticity, cover some of the most common pricing strategies along with scenarios in which they are typically applied, and finally touch on how technological developments have impacted price determination.
The Product Life Cycle is the series of phases a product moves through in its lifetime, which include introduction, growth, maturity, and decline. This article will provide descriptions of each of the four stages, examples of products in each stage, and strategic implications to managers stemming from the product life cycle.
Marketing is a cornerstone in the success of any organization. To ensure marketing is successful for an organization, companies need to compose long-term marketing strategies promoting their goals with specific actions. A short term marketing plan is also necessary. Here we will be discussing the purpose of a marketing plan as well as key components of the design and elements of a good marketing plan.