Just like the evolution of humankind, humans have witnessed an evolution in many other things. One prime example of this concept is the changes in business models. When humankind started learning ways of doing business/trading activities, they started with the barter system. That said, people used to trade commodities with commodities. Evolution of Business Models Things started getting better, and …
Attracting customers by using different means is always a frontline priority of every retailer. That is why retail business always comes up with innovation and different forms such as department stores, warehouse stores, dollar stores, specialty stores, boutiques, and discount stores. A discount store, as the name suggests, is a category of retail business where a retailer sells products at …
The marketing and advertising cost of your product/service is usually very high. Therefore, businesses and companies need to carefully plan their advertisement strategy. It should be able to serve two purposes, first, it should be cost-effective, and second, it should market the right message to the target customers. In other words, we plan a strategy that would increase the ROI …
Nowadays the business market is oversaturated with a lot of competitors. You can differentiate your business from the crowd if you follow niche marketing. Today, we’ll discuss niche marketing and its advantages and disadvantages. What is Niche Marketing? Niche marketing is the process of putting your advertisement focus on the particular and unique segment of the target market. Here you …
The gig economy is a new term in town and it is attracting the attention of a lot of people. Many people are really curious about it. But it is an old concept and many people called it with different names over time. Like temporary work, agile workforce, freelance economy, and other names. Some people consider it as a side …
Factors like retail buyers, demanding customers, institutional buyers, large scale buyers, and technology have put great pressure on wholesalers. The wholesale industry has become very competitive because of these factors. Consequently, wholesalers are looking for ways to develop their marketing strategies to improve their marketing mix, positioning, and target marketing decisions better. Today, we’ll discuss wholesale marketing decisions that how …
Mom and pop stores used to be family own businesses, drugstores, and general stores. In today’s market, there’re many businesses like insurance companies, repair shops, bookstores, and restaurants are operating their establishment synonymously as mom and pop store. Today we’ll discuss mom and pop store, its statistics, advantages, disadvantages, and a real-life example. What Mom and Pop Store? Mom and …
Jean Baptiste Say was the founder of the Says Law and it proposes that the supply of goods creates their demand in the market. It dominated the western capitalist market until the mid-50s of the 20th century. Businesses and industries were focusing on the efficiency of production and manufacturing methods. It was the time where channels of communications were limited …
The retailers are always looking for a new marketing strategy to have a competitive edge in the market and to serve the customers better. Nowadays, there’s a trend for branded products and you’ll find them everywhere across all the departmental stores, discount stores, and mass merchandising malls. That’s why they all look almost the same. The concept of differentiating your …
One of the main functions of marketing is to achieve the desired exchanges with the help of target markets. The question is what marketing philosophy should follow to streamline the desired objectives. Furthermore, what should be the interest organization, customers, and society? Today, we will discuss product concept, pros and cons, and how it’s different from the production concept. What …
