MARKETING

Small businesses can often find it challenging to build a brand due to their limited resources and budgets. However, the industry is full of such examples where entrepreneurs started businesses from scratch, which later became powerhouse brands. There are several brands in the industry that essentially started as small businesses like Lego. Small businesses aiming for … [Read more...] about Positioning and branding a small business

CONTENTS: RESEARCH APPROACHES FOR GATHERING PRIMARY DATAOBSERVATIONAL RESEARCHSURVEY RESEARCHEXPERIMENTAL RESEARCH Researchers rely on data and information to answer questions, understand specific issues, or for hypotheses testing. They can obtain the data from the subjects directly or from sources that already store the data. When the data is collected directly for … [Read more...] about Research approaches for gathering primary data

CONTENTS: FIVE CORE MARKETPLACE CONCEPTS.NEEDS, WANTS, AND DEMANDS.MARKET OFFERINGS.VALUE AND SATISFACTION.EXCHANGE RELATIONSHIPS.MARKETS. Understanding the marketplace and customers is critical to winning in today’s highly competitive market environment. The leading companies invest heavily in this area and go to great lengths to understand their target market and learn … [Read more...] about WHAT Are the five core marketplace concepts

What are the major trends and forces changing the marketing landscape in an age of relationships? The world of marketing has undergone a significant transformation in less than a decade. It is being shaped and altered by several trends and forces. While it has already changed a lot, dramatic changes still happen every day in marketing. One of the leading forces that have … [Read more...] about Major trends and forces changing the marketing landscape

In a previous post, I have discussed the purchasing decision process of individual buyers. In this post, I will discuss how the business buyers make their purchasing decisions and the steps involved in the decision process. There are generally eight steps involved in a business buying situation. Business buyers buying new products will typically go through each of these eight … [Read more...] about How do the business buyers make buying decisions?

Every marketer wants his new product to be successful. However, several factors influence the adoption rate of the innovation. Some products can gain acceptance overnight. For others, it may be difficult to win the market and gain fast adoption from consumers. Apple products are very good examples of products that gained adoption very fast right after their … [Read more...] about Product characteristics and their impact on rate of adoption

Buying behavior can vary greatly from product to product, based on the level of involvement and degree of differences from brand to brand. For example, buying behavior for milk, toothpaste or bread will be different from that for carpet or smartphones. In the case of more complex buying decisions, there will be more buying participants and higher buyer deliberation. According … [Read more...] about Buying Decision Behavior and Its Types

The marketing function in an organization wants to create marketing strategies that will successfully engage customers and build profitable relationships with them. However, a key question that arises in this regard is what philosophies will guide these marketing strategies. What should be the top concern when creating a marketing strategy? Should the interests of the … [Read more...] about Marketing Management Orientations

About marketing: Definition and goals. Marketing is all around you in a host of forms, including traditional forms as well as several modern and innovative forms like websites, apps, videos, and social media. Of all the business functions, marketing is the most customer-facing function. The simplest definition of marketing according to Kotler is engaging customers and … [Read more...] about Five Steps in the Marketing Process

Launching a new business can be exciting, but that doesn't mean it's without its share of challenges. There can be many different aspects of running a new business that can feel overwhelming, and figuring out how to market your new business effectively is one of them. While it may not always feel easy, the good news is that there are many things you can do to help improve your … [Read more...] about Marketing Tips You Need for Your New Business