Marketing

A company in a an industry where a lot of competition exists and the large number of options available for buyers makes the price elasticity of demand very high would have to adopt a survival...

There are reasons why department stores charge more than discount stores. First, department stores generally have higher overhead costs associated with operating their business. Many department...

Yes, the 4 P's do an adequate job of describing marketer responsibilities in preparing and managing marketing programs. Concerning Product, this defines exactly what the marketer will promote to...

Marketing channels refers to the ways a product/service is advertised/publicized. In developing marketing strategy, companies would be wise to consider how to best reach their target customers,...

Companies have various levels of relationships with their customers, typically centered around two major factors: quality of goods or services and price. Whether companies are selling to consumers...

Relationship marketing is a focus on businesses to ensure customers establish long-term commitments with their brand, product, and services. Relationship marketing is a shift from transactional...

First of all, we need to realize that this is not a question of ethics. Even though it is a question that asks “should” it is not about what is right and wrong but about what will make businesses...

Pricing is certainly both an art and a science. Pricing is a science because it is based on some objective numbers. A price should be based to some degree on the costs incurred in the creation of...

Market segmentation has some limitations. Market segmentation is when a company divides the population based on certain factors such as geography, age, and income levels. One disadvantage of this...

It is correctly said that first, the Company must differentiate those who are interested in pre-cooked products and those who are not. Second, they must define sub-categories of the group that is...

The most important thing that a wholesaler can do to build these relationships is to make personal contacts and provide the services that are needed by each side. The wholesaler in this case should...

There are two major potential dangers connected to segmenting a market too much. First, it is possible to lose out on some potential customers. If a firm segments its market too much, it runs the...

The “4 P’s” of marketing include product, price, place, and promotion. A gas station has very little control over its main product. The station has the blends of gasoline that its supplier...

Marketing schools teach that there are five main eras of marketing. The most recent one is said to have begun in the early 1990s; this is called the Relationship Era. The era preceding that spanned...

Those are great benefits to taking a marketing class. But even if you aren't in business, bear in mind that we are always marketing ourselves. I teach marketing classes, sometimes to non-business...

The most important primary marketing information I would want to have is any primary research—focus-group tests, customer interviews, etc.—that helps answer the question, why does the brand need...

This statement does not make sense. It is true that consumers will pursue their wants and needs. However, this does not mean that marketing is pointless. Marketing can be seen as a way of helping...

I would have to agree that a 5% increase may not seem like much for the consumer (especially if the product price is low already). Also, a 5% increase in profits shows the consumers that the...

To argue this, we must say that the marketing of fast foods makes people more likely to eat foods that are bad for them and which tend to cause obesity. From this point of view, marketing of fast...

Although mail order sales are strong for certain products and internet sales are growing, retail outlets still are the single major channel for sales to individual consumers. One reason consumers...

Michael Jordan's association with Nike was recognized as being the "greatest sports marketing innovation of the last fifty years" in a poll released bu Synergy.com in January, 2011. His immediately...

Database marketing is essentially a form of market segmentation. It uses information in databases to try to understand how groups of people can best be appealed to through marketing. This can help...

One advertisement from 2018 that attracted much attention is the Nike ad featuring Colin Kaepernick. The Seattle-based athletic wear company released print ads with the famous football player's...

One way to look at the basics of marketing is to discuss them in terms of what are called “the 4 P’s” of marketing. These are things that must be addressed by all marketers as they try to devise a...

There are four forms of utility: form utility, which takes raw materials and uses them to create finished forms, place utility, which provides value by making a good or service available at a...

Marketing which allows consumers to make informed choices seems ethically neutral or even good. For example, companies that are building hybrid or electric cars can inform customers of how their...

Given the additional information that you have given under your question, it is clear that Zippo should pursue a multi-domestic strategy. The reason for this is that the different markets appear...

There is no shortage of identified marketing trends and changes to which businesses should be aware when undertaking long- and short-range planning. Some of the changes merely reflect greater or...

The major point of product bundling is to put together items in order to get customers to buy things they ordinarily would not buy. One of the major examples of this (other than the ones you...

By-product pricing refers to the case where a producer can afford to keep the price of the original product being sold lower as the by-products obtained in the process of production of the original...

Nowadays, perhaps the most prominent example of this sort of pricing can be seen in the airline industry. Optional product pricing occurs when a main product is sold along with some accessories....

It is important to develop a marketing plan because, without such a plan, a firm is not going to be clear on what goals it is trying to accomplish and how it is trying to accomplish any goals it...

SMP, which stands for Strategic Management Process is an intervention aimed to implement a plan of action. Each step of the process interacts with the other and, all together, they work as a...

This pricing objective is a good fit with industries or products that have already managed to gain a firm place in the market and are trying to build for the long term. When a particular company...

Pricing is one of the Ps of marketing. A company fixes the price of its products with the goal of increasing revenue in the long run. The pricing objective of increasing market share and ultimately...

People of this age are said to have been affected by the fact that they have grown up in the internet world and in a world in which they have been encouraged to "be themselves" and to have strong...

The difference between these two is that the first relies on advertising while the second relies more on activities at the point of sale. In a pushing promotional strategy, the firm takes the...

There are two main ways in which marketing can help a business. First, marketing can help to increase demand for the firm’s products. If a firm markets its products well, more people want to buy...

There is no completely foolproof way to measure the impact of a promotional campaign. This is partly because even a successful campaign might not lead to immediate sales. A campaign might,...

A marketing mix consists of the four Ps (product, place, price and promotion). The best approach is the most precise approach. Know who your target market is going to be and make sure the product...

Every product that is made has certain objective properties. In the example given below, the milk undeniably has no preservatives. It clearly comes in a box. Objectively speaking, it has a shelf...

The first step a United States company should take to increase its online global reach is to make its website available in multiple languages. This also includes programming input field to use a...

Marketing for a proposed outpatient surgical center would presumably be predicated upon an identified need for such a facility in a particular location. Advances in surgical procedures and...

There are many people who believe in the idea of corporate social responsibility and therefore think that fast food firms should market healthier choices more aggressively. However, firms’ main...

These two terms are too often used interchangeably, and too often thought of by the marketer as the same thing. Stereotyping is treating an individual with a certain social trait (race, age, sex,...

Consumer marketing usually involves selling a small number of things to many buyers while B2B involves large quantity sales to a small number of buyers. This means that consumer marketing needs to...