In simplest of terms, purchase intention is the likelihood of a customer buying the same product again based on their purchase history. Or it can also be the NEED of a product which is driving the customer towards
Marketing management articles
What is Indirect Competition?
There are two kinds of competition in the markets- direct and indirect. The direct competition takes places among sellers of the same commodity whereas Indirect competition take place among sellers of different commodities but of the same product
What is Switching Cost?
A simple definition of Switching cost, also known as Switching barrier, is by Thompson and Cats-Baril who define Switching costs as “the costs associated with switching supplier”. On the same lines, Farrell and Klemperer refer to switching cost
What is Stealth Marketing?
An indirect way of marketing products, stealth marketing focuses on creating buzz among the audience as a whole without letting people realize that products are actually being marketed to them. It can be done in many ways like
Reverse Marketing explained
Pages and pages can be written about the importance of Marketing for businesses – whether big or small. From the nearby Mom and Pop stores to Multinational businesses, an effective marketing strategy has helped make or break a
Income Effect
A consumer’s buying behavior is shaped by many parameters like his tastes and preferences, income levels, the price level in the economy, prices of substitutes and complementary goods, demand for and supply of goods in the market etc.
Balance Of Payments
Like any household and business organization, the nation also has its economic and financial affairs to take care of. It has to keep an account of all its monetary dealings with foreign nationals and commercial entities. This exchange
Diminishing Marginal Utility
Law of Diminishing Marginal Utility comes under the purview of Macroeconomics, a branch of economics that deals with the economic behavior of individual variables such as factors of production individually, returns to factors of production, the law of
Target Pricing
How is a selling price for any product calculated? The norm for price calculation in any business is generally like this: Calculate all the costs relating to the production or procurement of a product; add up the desired
How to conduct a Market Survey?
When a company grows larger, then any changes they make affect the customers. Thus, if a company wants to keep their customers happy, they need to involve the customers whenever they want to make changes. At such times,
Marketing Strategy of Ola Cab
The founder of the Cab aggregator which builds up online Marketplace for Taxi, Bhavish Aggarwal started its entrepreneurial venture in the year 2010 when he experienced the deep routed problem in India quality Cab service and professionalism of
5 Tips to Increase Share of Wallet
We recently discussed the concept of Share of Wallet, it is natural for any business to want to know how to increase Share of Wallet for their business. The simple answer to that question is to retain the
Share of Wallet
Life of marketing personnel is driven by and centred on targets. Increasing sales; reaching more customers and; capturing new market share are eternal quests that they are engaged in. There are many ways to measure the growth of
Market Demand Explained with Examples
Any company which takes part in manufacturing has a limited manufacturing potential. If it manufactures too much material then it is wasting working capital and also spending a huge amount to manage the inventory. Any company would like
Types of Market Research Questions
A common confusion that we get when conducting a market research survey is the market research questions that we should ask from the sample population. While preparing the market research questionnaire, the type of questions you prepare is