Marketing of products is done regularly by companies locally. But since ages, foreign products have constantly been introduced in other markets and the sellers or modern-day term would be marketers have tweaked, changed or revamped their strategies in order to appeal and gain acceptance from local market.
Marketing management articles
What is the Hedgehog Concept?
The Hedgehog Concept was developed by the famous American Business consultant Jim Collins highlighting on the various factors that how a person or a company can attain the pinnacle of success and growth in the business. The concept harps on the power of simplicity that elevates the chances of success in the business.
Scenario Analysis
Scenario Analysis can be defined as the process of estimating the futuristic and expected value of the portfolio after the specific fulcrum of time frame. The entire process of the Scenario Analysis assumes the specific changes or alterations in the values of the portfolio’s securities change in the interest rates and the consideration of other
What is Sports Marketing? Sports marketing discussed in detail
One of the most profitable industries today is the sports industry. Major sports like cricket, football, tennis, as well as the country-specific favorites like baseball, American football, rugby and so on are followed by people all over the world. People are willing to spend money on going to watch sporting events and they are also
What is USP Analysis?
The concept of USP Analysis can be defined as the finding out the factors that distinguishes your products offered from the ones of the competitors and helps your brand tailor a unique personality in the market and in the minds of the consumers.
What is Product Standardization? Uses and Advantages
What is Product Standardization? Product standardization refers to the process of maintaining uniformity and consistency among the different iterations of a particular good or service that are available in different markets. It is a process of marketing a good or service without making any changes to it. If a product is changed at all, it
What is a Fragmented Market?
The term market, in marketing, refers to the group of customers or organizations that have an interest in the product, have the ability to buy the product, and are allowed by law to acquire the product. Markets are never uniform and consumers vary fro m place to place and circumstances to circumstances. They are also divided into several
What is Captive Market?
Different kinds of markets make the global economy. While some sectors like fruits, vegetables, retail, etc form a perfectly competitive market, some other industries like telecommunication form an oligopoly market. There is also a monopoly market where only one seller has the capacity to sell the particular product. Producers are the price makers and buyers
What is geodemographic segmentation?
Geodemographic segmentation is supremely essential in marketing. It is, in fact, the very first stage in the ensuring that you are able to market your products well. In very simple terms, without any detailed explanation, it means to define your target audience and target buyers. It is a segregation based on not just one or
What is Cost Advantage?
There are various strategies which can be used by companies to gain market share and acquire new customers. Suthe ch strategies are known to give a “Competitive advantage” to the company. One of these competitive advantages is the Cost advantage. Definition of Cost Advantage The cost advantage is an advantage that the firm has over
What is Sponsorship Marketing?
Whenever you watch a TV reality show, I am sure that you must have noticed the anchors announce a series of names or at least one company name as soon as the show starts or when you are back from the commercial break. He or she takes these names and then goes on to say
Social Identity Theory
Human beings are social animals and are shaped by their relationship with other people. The self-identity of a person is affected by the ways in which they interact with other members of society. The manner in which a person’s identity develops is not a process that occurs within a vacuum. People do not exist in
Importance of Marketing Ethics
Definition of Marketing Ethics Marketing Ethics can be defined as the set of guidelines and the area of applied ethics that acts as a guiding light behind the operations and regulations of marketing. Some of the areas of marketing ethics overlap with the ethics of media as they both are co-related. The set of ethical
Social Learing Theory
It has been theorized that human beings learn from observing and imitating others. People can learn new behaviors even without motor reproduction or direct reinforcement. Learning is a cognitive process that occurs in a social context through observation and direct instruction. Behaviors that are rewarded are repeated by the learner. Conversely, behaviors which are punished
What is Social Loafing?
People generally assume that the greater the number of people employed to carry out a particular task, the better. The collective effort will prove to be more efficient than individual effort. There are certain tasks that necessitate a group working together in order to carry it out. The adage of too many cooks spoiling the
Importance of Marketing Communication
Definition of Marketing Communication Marketing Communication can be defined as the methodologies and tactics adopted by the companies to convey the messages in a unique and creative manner to their existing and prospective customers about their offerings of products and services. The messaging communication is either direct or indirect in nature with an intention to