Found 602 Articles for Management

Key Marketing Management Philosophies

Abhishek Sengupta
Updated on 13-Jun-2022 12:34:03

551 Views

What are Marketing Management Philosophies?Marketing is the process of selling and buying products or services with the objective to gain profit either in monetary terms or in fringe benefits. It is a part of a larger management process. Management is the structured way adopted and followed by an organization from the starting till the implementation process.All the marketing efforts are guided by certain philosophies, which determine how the marketing activities should be carried out. Such philosophies are known as the marketing management philosophies.Marketing management has five philosophies to achieve the objectives of an organization. The evolution of marketing management philosophies ... Read More

Key Components of Strategic Marketing Planning

Abhishek Sengupta
Updated on 13-Jun-2022 12:30:50

622 Views

What is Strategic Marketing Planning?The act of drafting and executing a strategy to accomplish a specific marketing goal is known as strategic marketing planning. Companies may devise strategic marketing plans in order to boost revenue and profits, get increased visibility, deter competitors, or improve their image through a complete rebranding.All of the world's most successful businesses have one thing in common: VISION. Strategic planning is the process of realizing that objective. If they want to build a formidable, long-lasting company model, even the tiniest businesses must engage in some amount of strategic planning.Key Components of Strategic Marketing PlanningManagement and operations ... Read More

Product Classification: Definition, Types, and Significance

Abhishek Sengupta
Updated on 13-Jun-2022 12:26:23

8K+ Views

What is a Product in Marketing?A product is something that is made with the purpose of being sold in the marketplace. The use of products satisfies the needs of customers. All marketing operations centre around the product, which is one of the most important aspects of marketing.There are two types of products: tangible and intangible. Intangible products are referred to as services, while physical things are referred to as goods.According to Perreault, Cannon and McCarthy “A product is the need-satisfying offering of a firm.”According to Grewal and Levy “A product is anything that is of value to a consumer and ... Read More

What is meant by Market Positioning?

Abhishek Sengupta
Updated on 13-Jun-2022 12:17:47

362 Views

Definition: Market PositioningMarket positioning is the process of creating a marketing mix that puts a product or service in a unique position for the target segments and turning them into potential buyers. It is a crucial part of marketing strategies as it helps in creating a distinct mental position or image of a product or a service in the mind of the customers as compared to other brands in the market. This is accomplished through formulating competitive positioning for a product and a detailed marketing mix.Products can be positioned basis their prime attributes − For example, a sunscreen lotion brand can ... Read More

Basic Modes of Marketing Entry

Abhishek Sengupta
Updated on 13-Jun-2022 12:40:55

122 Views

The mode of entry is the path or the channel set by a company to enter into the international market.Ways to Enter Foreign MarketSome of the ways or modes of entering a foreign market are as discussed below.ExportingExporting is a cross-border sale of domestically grown or produced goods.Indirect ExportingIndirect exporting is the safest way to enter the market because there is no direct exposure to the overseas market and its hazards. The organization is just selling their goods to a foreign market agent, who then sells it to an intermediary. A number of companies use indirect export as an entry ... Read More

Advantages and Disadvantages of International Marketing

Abhishek Sengupta
Updated on 13-Jun-2022 12:03:33

9K+ Views

The implementation of marketing ideas by industries in one or more countries is known as international marketing. Simply put, international marketing is the exchange of goods and services across countries.What are the Benefits of International Marketing?Let us see the key benefits of international marketing as follows −Market ExpansionEveryone wants to increase their market share and increase the number of things they sell. International business is significant since it provides you with a new market to explore and expand within. Whatever your position was in the previous market, the new market is a whole different ballgame for any organization.Protects Against Economic ... Read More

What is International Marketing?

Abhishek Sengupta
Updated on 13-Jun-2022 11:57:17

891 Views

Definition: International MarketingThe implementation of marketing ideas by industries in one or more countries is known as international marketing. Thanks to developments in international marketing, enterprises can now do business in practically any country on the planet.Simply put, international marketing is the exchange of goods and services across countries. The technique for planning and executing product and service tariffs, promotions, and distribution is the same all over the world.What are the Characteristics of International Marketing?The following statements define the fundamental characteristics of international marketing.Larger MarketMarketing and advertising items and services can be done on a variety of platforms. The market ... Read More

5 Principles of Enlightened Marketing

Abhishek Sengupta
Updated on 13-Jun-2022 11:48:02

354 Views

What is Enlightened Marketing?Enlightened Marketing's concept is founded on the crucial factor that a company's marketing should evaluate the marketing system's optimal long-term performance. Enlightened marketing prioritises the customer's impression of the product; avoid exhausted approaches; examine the social impact; pass on the true value for the price; and demonstrate that the company is as socially responsible as it is profitable. This is the belief that a company's marketing system should be customer-centric, innovative, and societally beneficial, as well as give long-term value and be founded on a sense of commitment or mission.What are the 5 Principles of Enlightened Marketing?Enlightened ... Read More

What are the Factors Affecting Consumer Behaviour?

Abhishek Sengupta
Updated on 31-Oct-2023 13:14:07

63K+ Views

What is Consumer Behavior?Consumer behaviour is the study of how individual customers, groups or organizations select, buy, use, and dispose ideas, goods, and services to satisfy their needs and wants. It refers to the actions of the consumers in the marketplace and the underlying motives for those actions.Engel, Blackwell, and Mansard define consumer behaviour as “…the actions and decision processes of people who purchase goods and services for personal consumption.”Factors Affecting Consumer BehaviorConsumer Behaviour is influenced by many different factors. The five major factors that influence consumer behaviour are as follows −Psychological FactorsHuman psychology plays a major role in understanding ... Read More

What are the Porter's 5 Forces in Marketing?

Abhishek Sengupta
Updated on 08-Jun-2022 09:24:57

339 Views

Definition: Porter’s Generic StrategiesBusiness plans are beneficial in assisting your company's success. Depending on your company's demands, you can use a variety of tactics. In his corporate planning and strategizing book, “Competitive Advantage: Creating and Sustaining Superior Performance, ” Harvard professor Michael Porter coined the term “generic competitive strategies or GCS.” Porter's generic competitive strategy is a framework for planning your company's strategic direction and getting a competitive advantage over your competitors.Cost leadership, differentiation, and focus are the three generic techniques that make up GCS. A business might choose between two sorts of competitive advantages.For example, they could opt to ... Read More

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