What is the purpose of doing a business? One common and logical answer is, PROFIT and this answer is not wrong by any means. When we think about business, the first thing comes in our mind is profit, but does that mean it is that easy to start a business and profits will follow? No, it doesn’t work that way, …
Many people use the two terms “consumer” and “customer” interchangeably and they think it’s the same thing. But they have different meanings from the marketing point of view. Especially if you want to be accurate and convey the precise message, then you have to choose the right word it. Today we’ll discuss “customer” and “consumer” and how these two terms …
Many people consider “consumer” and “customer” the same thing. They may be the same thing in a figure of speech, but they’ve completely different meanings from the marketing point of view. The reason people usually misinterpret the two terms is that they both refer to the same person. But when it comes to definition and interpretation, they’re completely different. Today, …
Strategic planning is one of the core ingredients of a successful business. The primary objectives of any business include profits as well as market penetration and market growth. Apart from a good marketing strategy and quality products/services, a competitive pricing strategy is equally important. Introducing low-priced products or reducing current prices to have a better market reach is a fine …
In the online world, you must have come across some book, application, or tune that you like. But the owner requires you to pay a certain amount to use it and you’ve made the payment for it. Marketers call it micropayment in the e-commerce world. A micropayment is a minimum amount that you have to pay to use the product/service. …
A strategy is very important to achieve something in your life. Marketing strategy for your business is also no exception because it’s not a single activity completely separate from all the operations of your business. Instead, it’s a combination of various departments, production, finance, and sales. If your company doesn’t have a strong marketing plan and strategy, it would jeopardize …
Have you ever thought that you can also buy a product at a price below its cost? If I tell you that you can. I am talking about loss leader pricing, which is an aggressive pricing strategy. Today, we’ll discuss the loss leader pricing strategy in detail and why businesses are willing to follow it. What is Loss Leader Pricing …
Marketing strategy helps you to understand your target customers, company’s goals, and advertising methods and techniques to reach more audiences. So that you could plan everything on time, and avoid unexpected circumstances in the future. Today, we’ll discuss different types of marketing strategies, and how you can choose an effective marketing strategy. Here it follows; What is Marketing Strategy? Marketing …
What is Marketing? Marketing is the art and process of building, managing and maintain an exchange relationship; where you start with attract the customers, establishing a relationship with them, and finally maintaining it by satisfying their needs. That customer can be other businesses or the consumers; therefore, marketing can be business to business or business to consumer depending upon the …
The idea of the marketing concept is to find out the needs and wants of customers, and then try to satisfy them better than competitors. Nowadays, most businesses and companies follow this ideology, but it hasn’t been the same in the past. The main points of the marketing concept are; Finding the right target market Trying to understand the needs …
