INTRODUCTION TO THE PRODUCT The product is the starting point of all marketing activities. Form.“A product is any object that has an identifiable physical existence. For example: books, shoes, furniture, fruit, etc. represent products DEFINITION OF PRODUCT According to W.Anderson, “A product is a set of utilities consisting of various product features and accompanying services. …
The marketing mix is the set of controllable tactical marketing tools (product, price, location, and promotion) that the business combines to achieve the desired response in the target market. By Philip Kotler and Gary Armstrong. The marketing mix refers to a set of measures or tactics that a company uses to promote its brand or …
What is a brand? Brand = Personality A brand is defined as a business or a marketing concept that helps people to identify a company, product, or a person. Let’s take a look. Properly managed, the brand does eight things: The brand represents the organization (has a purpose) The brand embodies ethics, attitudes, and affiliations …
DEFINITIONS OF PROMOTION Promotion or advertising is the marketing communication process that involves information, persuasion and influence. In other words, advertising is a way of “counting” and “selling”. It is a way of creating or influencing the impression that a product exists through various means such as advertising, sales promotions, and personal selling. According to …
SWOT analysis analyzes your strengths and weaknesses, as well as the opportunities and threats your business faces.SWOT analysis can help your business solve the biggest challenges and find the most promising new markets. SWOT Analysis Framework is a very important and useful tool for marketing management and other business applications. A clear understanding of SWOT …
A marketing plan is defined as an advertising strategy that businesses use to sell their products or services. Businesses have finally realized what their customers have always known. If they can’t find the content that makes your product user-friendly and fun, they go to your competitor. This blog post covers what goes into creating a …
The market for goods and services bought and sold between companies is huge. The business market is much larger than the consumer market, encompassing many types and sizes of organizations that selectively interact and form relationships of varying importance and duration with one another. Although these organizations are often structurally and legally independent entities, a …
Pricing is one of the four elements of the marketing mix, along with product, location and promotion. Pricing strategy is important for businesses that want to succeed by finding the price point where they can maximize sales and profits. Pricing is one of the main elements of the marketing plan. It allows a product or …
Technology has changed the way we live and how we advertise and sell products. Over the past decade, the rise of social media, online shopping, and platforms like YouTube and Netflix have enabled businesses to engage with customers in new ways. The number of people connecting to the internet on a daily basis continues to …
The following are the most significant objectives of marketing and are:1) Creation of DemandThe objective of marketing is to create demand through various means. A conscious attempt is made to find out the preferences and tastes of the consumers. Goods and services are produced to satisfy the needs of the customers. Demand is also created …
