The decision and activities involved in the buying process involve several participants. These participants may play all or different roles in the buying process. These participants are, briefly, examined under… Read More »The Roles in the Buying Process and Strategies
Market Segmentation – There are many ways to segment a market, but not all segmentations are effective. However, to be effective, market segments must have the following characteristics: Measurability The… Read More »Conditions for Effective Market Segmentation and Bases for Segmenting Consumer Markets
If you’ve finally decided to turn your craft or eureka moment into a full-blown business, congratulations-you’re one step closer to becoming an entrepreneur! Understanding the business, however, can be tricky, especially if you plan on scaling up in the future and partnering with large vendors. How to do you find the right manufacturer for your product?…
Market segmentation helps in optimizing the marketing mix for a segment. In this unit, we will examine the concept and bases for market segmentation. All corporate marketing activities are done… Read More »Market Segmentation and its Benefits
Buying one good or the other is considered part of a daily operational process. Individuals vary in their buying process. There are various reasons why goods or services are offered… Read More »The Buying Process and Objectives
Homeowners insurance, commonly referred to as home insurance or owners insurance, is a requirement, not a luxury and not simply because it guards against theft and harm to your valuables… Read More »Homeowners Insurance Complete Guide
The demand for industrial goods is derived from the demand for final goods which they are used to produce. The higher the demand for the final item, the higher will… Read More »Characteristics and Strategies of Industrial Products
The demand for industrial goods is derived from the demand for final goods which they are used to produce. The higher the demand for the final item, the higher will… Read More »Characteristics and Strategies of Industrial Products
Financial literacy is the assurance that one has in one’s knowledge of topics like debt, investing, and saving, which results in a general feeling of financial security and self-confidence. Being… Read More »Importance and Need for Financial Literacy (Financial Education)
As marketing executives or business practitioners, having learned about consumer goods, it is equally important to know what industrial products mean. This unit examines an industrial product, its classes, and… Read More »Product Classification of Industrial Products
As marketing executives or business practitioners, having learned about consumer goods, it is equally important to know what industrial products mean. This unit examines an industrial product, its classes, and… Read More »Product Classification of Industrial Products
Advertising in Marketing Mix Most often, only a few firms compete with one another in the same target market. Economists call such a situation an oligopolistic situation. In this situation,… Read More »Roles of Pricing and Advertising in Marketing Mix
Industrial products are generally subject to greater standardization, as against certain consumer products which require frequent changes in fashion and style. Advertising, normally, is an important promotional tool for consumer… Read More »Marketing Strategies for Consumer and Industrial Products
In this article, we’ll be looking into new product development and marketing mix and how to use them in the development of unique products. However, ideas must be converted to… Read More »New Product Development and Marketing Mix
Businesses are set up to produce products or goods and services. These products are sold to members of the society for money. Goods consist of items with attributes that have… Read More »Classification of Products and Marketing Strategies for Consumer Goods
When a product idea is revolutionary, the concept itself must be tested. For example, people talk about ‘battery-driven cars’ to save on petrol. It is a concept to be evaluated… Read More »Product Concept Development and Evaluation
Personal finance can be such a complex matter that it can sometimes be hard to tell if you’re on track and making the right moves.We’ve pulled together some top personal finance rules that cover the basics of savings, debt, retirement and homebuying.None of these rules are perfect but they may give you a quick check…
As you must have realized by now, it is crucial to have a strategy for developing new products. Many products fail, and to keep expanding company sales, we must have… Read More »New Product Development Strategy and Generation of New Product Ideas
Marketing activities is common in our economic affairs. Thus, an average businessman claims that he/she is a marketer. This unit attempts to define and state the functions of marketing in… Read More »Classification of Marketing Functions
The internal, controllable variable of a company- known as 4ps of marketing or marketing mix are variables which marketers used to achieve business corporate goals. They are referred to as… Read More »Internal Marketing Environment
Saving We all have good intentions when it comes to saving money, right? We tell ourselves we’ll start saving once we reach a certain milestone, like when we hit a specific age, get a raise, or when Jimmy (finally) moves out of the basement.But in reality, you’ll only start saving money when you develop healthy money habits…
Three environmental variables are directly a part of a company’s marketing system, but external to the company. These are the firm’s market, suppliers, and marketing intermediaries. They are also classified… Read More »Micro Environmental Variables in Marketing System
Marketing environment is a very important element that must be critically studied and evaluated before undertaking any business. The environment where the business is situated along with other factors determines… Read More »The External Marketing Environment
Product Life Cycle – Most products have a limited profitable life. This unit will give you a complete picture of what happens from the time a new product is introduced… Read More »The Product Life Cycle Concept and Marketing Mix at Different Stages