Marketing Research Process Marketing research is the process of collecting and analyzing data to explore more about the current trends in the market. Marketing research includes specific inquiries into specific marketing problems. Good marketing research can offer companies good information about the target market, competitors’ positions, and probable opportunities and threats enabling companies to be…
What is Marketing Research? Marketing research is a process of collecting and analyzing market information to better understand the customers and aid in problem-solving. It is a systematic and scientific way of analyzing the market and gathering relevant information about the problem. The marketing research is objective in nature. It is the problem-focused approach. Companies…
It is obvious that no business organization is isolated. They operate in the environment. The factors of this environment affect the functioning of the organization. Some factors are within the organization whereas others are outside it and they affect the marketing activities of the firm. Both outside and inside factors make up the marketing environment…
What is Marketing Environment? The marketing environment can be defined as the combination of external and internal factors/components that have a direct and indirect influence on your company’s abilities to serve, build relationships with clients, and achieve desired marketing goals. Components of Marketing Environment Generally, types/components of the marketing environment are two – internal and…
I am sure you all have heard about the 4 Ps of marketing i.e. product, price, place, and promotion. Which are great pillars for achieving marketing goals. But, do you know about the 4 Cs of marketing, if you do not, you are going to… What are the 4 Cs of Marketing? The 4 Cs…
The 3 Ps of Marketing Mix The 3 Ps of the marketing mix is additional elements added to the original 4 Ps of the marketing mix. These 3 Ps include people, process, and physical evidence. While the previous 4 Ps apply to manufacturing businesses, these 3 Ps are relevant to service businesses. Due to the…
Selling a product or service was easy back then. But now in this cutthroat completion, it has become much harder, and selling products and making customers satisfied goes a long way. Back then you could sell what you make but today you must consider making products only you can sell. Here, we will discuss the…
What is Marketing Management? Marketing management is the process of planning, implementing, and controlling marketing activities in order to achieve the desired marketing goals of the organization. It is a customer-centric approach. The main activity of marketing management includes finding the target market, getting the market, and earning greater customer satisfaction by delivering and communicating…
Product Concept Vs Production Concept Product and production concept are two marketing philosophies or concepts from the six. These two marketing concepts are sometimes interchangeably used, they are similar to some extent, but, they also greatly differ from each other. The production concept is a marketing philosophy that believes that the product’s price is the…