Whenever we talk of marketing, we are always on a lookout for strategies that require the least investment. This is natural because of the desire to earn more lies within each one of us. However, the search for such a strategy just ended because the solution is simply piggyback marketing. It is a very low-cost
Marketing management articles
What is differential pricing?
As the name itself states, differential pricing refers to different prices applied in the market based on various factors such as geography, external environment or various reasons. This implies that there is one product in the market, but, different people need to pay different prices for it. To make the explanation clearer, I would like
What is Market Saturation
In the simplest of terms, market saturation refers to a state or condition when a product is being totally distributed in the market or where further growth is not possible. It can thus be understood that market saturation is nothing less than a state of diffusion when your product has been able to successfully reach
What is Customer Profile? How to create a customer profile?
Not all products in the market are meant for every consumer; rather a particular customer won’t use all the commodities available in the region. While some products cater to young people, there are others which exclusively focus on mature adults. Certain commodities are meant for women; likewise, there are products and services targeting men. Therefore,
What is Marginal Pricing?
Fixed and variable costs are the two major costs in the current business. Variable costs are those that vary with the volume and outcome of the sales. Fixed costs do not depend on the level of sales. Marginal Pricing, also called, Marginal cost-pricing comes under the idea of variable costs. It bases a product’s selling
What is Macro Environment?
Although businesses are autonomous in their identity and functioning, yet they are bound together within a common environment. Roughly, there are two kinds of atmosphere that exert some forces on the business activities and the long-term market existence of an organization. Demography, Economy, Physical, Socio-Cultural, Politico-Legal and Technological forces constitute the external or macro environment
What is Demand Analysis?
In economics, demand is described as “desire backed by adequate purchasing power”. It is defined as the amount of a commodity which a consumer is willing to purchase at a given price in a period of time. In economics, the demand for a commodity refers to both the desire to purchase the commodity as well
Behavioural Targeting
Behavioural Targeting is a personalized advertising technique. It bases its advertising on information gained from an individuals’ online behaviour which refers to web browsing like their searches, their interests, their disinterests and pages they visit. You will find this technique is employed by online advertisers and publishers who focus on improving the level of effectiveness
What is Price Transparency?
In the world of business, the role of the component ‘price’ is of utmost importance. No matter the amount of marketing effort or promotional campaigns, if buyers are not comfortable with the price, they will simply never buy it. On the other hand, if the market offers a lower price for a product, sellers will
What is selling cost?
According to the dictionary of marketing, selling cost refers to the expenditure, which is done by a company. This includes the promotion as well as the distribution of the product. The primary motive is to convince buyers to buy your product instead of opting for something else. To put it across in simple terms, selling
What is Micro Environment in Business?
When an organization starts its business in the market, its success and sustenance are shaped by a number of factors. While some of these factors are beyond the control of the company, others can be brought within its grip. The former is known as external factors which form the macro environment and the latter encompassing
Concept of Product Class
To understand the concept of Product Class, it becomes essential to first understand what exactly a “product” is. A product can be defined as anything that is offered to a market for consumption. The product can be of any kind (tangible or intangible) and is offered to satisfy a need. The key to remember here
Demarketing Explained in detail
In the competitive world of business, where every business tries its best to overtake it’s competitor, marketing a product or service has become the de-facto requirement for all businesses. In fact, with reports suggesting that marketing is the key revenue growth driver for approximately 30% of firms, businesses are allotting 11% of their budget towards
Mystery Shopping
You may have often heard about “mystery shopping”. But, do you really know what mystery shopping is? Let’s find out. What is Mystery Shopping? Mystery shopping is a procedure wherein, an individual or a team is sent to a venue to study certain aspects of service. These aspects may be a few or several in
Market Coverage Strategy
The costs of Advertising a product or service is huge and thus organizations need to carefully craft an advertising strategy that will not only effectively market their product or service to the target consumers but will also be cost effective. It is at this stage, i.e. is drafting a cost-effective yet high ROI advertising campaign,