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 …
Swot analysis of gig economy. The “gig economy” or skill-based economy has its roots in history and it’s much older than people think today. The jazz musicians first coined the term in 1915 by referring to their stage performance as the gig. The gig economy has taken a new turn in 2009. When digital platforms started connecting freelancers with potential …
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 …
Franchising is a type of business relationship between franchisor and franchisee. Where franchisor is the issuer of the license, privileges, and rights to the franchisee to do a business on behalf of the brand name, and the franchisor provides business assistance, management, training, marketing, organizing, and merchandising in return. The franchisee has to pay either a one-time payment or a …
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 …
