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Articles by Abhishek Sengupta
Page 4 of 6
What is SIVA Model of Marketing?
What is SIVA Marketing Model? The existence of any business is essentially justified by its customers. Customers can be consumers who buy goods and/or services or business-to-business clients. In a market economy, a business thrives by creating products and providing services that consumers are eager to pay for. Therefore, determining customer demand is essential for a company's future profitability. Nowadays, a lot of businesses are customer-focused (or market orientation). This suggests that the business bases its operations and product development on consumer needs. Companies are better equipped to meet their demands when they adopt a customer-oriented mindset and put ...
Read MoreWhat is Event Marketing?
What is Event Marketing? (with example) Event marketing is the practice of a business sponsoring or participating in an event to promote its goods or services. To build solid bonds with their customers and enhance the brand's reputation, marketing teams organize marketing events as well. Online conferences and open-air seminars are two different types of events. Depending on the marketing objectives of the company, an event's purpose may change. For example, a company could hold a social gathering if it wants to increase client loyalty to its brand. If a company wants to raise brand recognition, it could participate in ...
Read MoreWhat is Promotion Mix?
What is Promotion Mix in Marketing? To accomplish a certain marketing objective, a promotional mix combines marketing strategies such as direct marketing, sales, public relations, and advertising. Usually, the promotional mix is just a small component of the overall marketing mix. You might want to adopt a couple of the strategies or conclude that combining them all might be the best option for your campaign. Elements of Promotion Mix Businesses utilize four primary elements in the classic promotional mix to generate meaning for their service or product and convince the public to buy it − Advertising − Businesses ...
Read MoreWhat is the Concept of B2B and B2C Marketing?
Sales are the ultimate objective of marketing, which includes a wide range of activities. The development of B2B and B2C marketing concepts has received a lot of attention as globalisation, consumerism, and trade have all progressed. Let's go over these carefully. What is B2B Marketing? Business-to-business marketing, as its name suggests, refers to the promotion of goods and services to other corporations and enterprises. B2B marketing material is typically clear and informational in nature. This is because business buying decisions are based on the bottom-line revenue impact. Corporate decisionmakers place a high priority on return on investment (ROI). ...
Read MoreWhat is Price Mix in Marketing?
Price Mix in Marketing A sale is likely to occur only if the product is priced fairly, even if it is brilliant, in the right place, with excellent advertising. As a result, one of the most important elements influencing a buyer's choice is pricing. The position of a business might change overnight due to that one factor, which also directly impacts revenues and profits. Adopting pricing selections that are at odds with a firms’ competitive approach can be risky. Hence, businesses must approach the price mix with great care and prudence. Role / Importance of Pricing in Marketing Strategy ...
Read MoreDifferences between Consumerism and Environmentalism
Consumerism and Environmentalism are often viewed as mutually opposing constructs. While consumerism emphasizes on the accumulation and consumption of material resources, environmentalism advocates resource conservation and long-term sustainability.Philip Kotler defines consumerism as a "social movement seeking to augment the rights and power of buyers in relation to sellers" (1972).ConsumerismConsumerism is the belief that personal wellbeing and happiness depends to a very large extent on the level of personal consumption, particularly on the purchase of material goods. The idea is not simply that wellbeing depends upon a standard of living above some threshold, but that at the centre of happiness is ...
Read MoreDifference between Demarketing and Remarketing
What is Demarketing?Demarketing is a process in which a company develops strategies to reduce the consumption of a product. While traditional marketing often encourages customers to purchase more products, demarketing aims to limit a product's reach.Companies can use it in a variety of situations to control product use, price, or demand. They may use these strategies for many reasons, including to conserve resources or increase demand.Some of the different types of demarketing strategies are as follows −General DemarketingA company may adopt a general demarketing strategy when they want to reduce the consumption of a product for all users. This can ...
Read MoreWhat is the Importance of Marketing Ethics?
Marketing Ethics: Definition and RoleMarketing Ethics can be defined as the set of guidelines and the area of applied ethics that act as a guiding light behind the scope of marketing. Some of the areas of marketing ethics overlap with the ethics of media as they both are co-related.Marketing ethics and the standards laid out guide organizations to do "the right thing." These standards are instrumental in identifying acceptable practices, fostering internal control, and dealing honestly and fairly with customers. They also ensure that the businesses have complete compliance with the law. Companies can at times develop and publish their ...
Read MoreWhat is a Buyer's Rate of Adoption?
What is Customer Adoption?You hope that when you release new products, services, tools, or features, your consumers will want to upgrade, purchase, or integrate the new product into their workflow. That is exactly what customer adoption implies. It is about assisting customers in adopting new products and services.Customer adoption is defined as the process through which a customer learns about a new product/service, expresses interest in it, evaluates it, tests it, and ultimately purchases and uses it as intended.Five stages in the process of adopting a new product are as follows −AwarenessThe goal of the first stage is to raise ...
Read MorePublic Policy Principles Towards Marketing
The concept of public policy marketing could allow governments to "sell" their policies to citizens through non-commercial marketing interactions that are unique to the public sector. Then, social behavior should be viewed as citizens' reciprocation, contributing to the government's desired social outcomes. Public policy marketing is predicted to improve the implementation of government policies when citizen behavior is important to success.Following are the key Public Policy Principles in Marketing −The Principle of Consumer and Producer FreedomConsumers and producers should have as much freedom as possible when it comes to marketing decisions. If a marketing system is to produce a good ...
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