5 C’s of marketing is a useful framework to perform situation analysis. The 5 C’s of marketing analysis allows doing environmental scanning of five important component that improves marketing decision making process. These components include the internal and external environmental situation of a company.
In this article, we will discuss market targeting. What is it and why need to know it. We have already discussed market segmentation and learnt that companies are unable to reach all customers in the market. The company cannot fulfil all customers needs that is too large. Therefore, to solve this problem marketers segment the market into small segments. After this, …
Marketing mix is made up of four Ps. These four variables are interconnected and interdependent. These variables are known as 4 Ps of marketing mix i.e. Product, Price, Place and Promotion.
According to Michael Porter, value chain consists all those activities an organization perform to create value for its customers. In the business process organizations create value, more value creation means a more profitable organization.
Brand image is formed in the minds of customers based upon the experience and interaction of the customers with the brand, interactions can take place in different ways and not necessarily only the buying or using of the product and service.