The actions and decisions of individuals who purchase products for their personal use constitute consumer buying behavior. The process involved in purchasing products can differ from buyer to buyer and from product to product. Consumers don’t always pass through all five stages; they may reverse or skip some. When you buy your regular brand face…
Marketing strategy is a plan for selecting and analyzing a target market and developing and maintaining a marketing mix that will satisfy this target market. A firm must decide on the appropriate marketing activities to satisfy customer needs and achieve its goals. A marketing strategy is an overall plan for conducting marketing activities that enables…
Marketing research is the systematic gathering, recording, and analyzing of information for guiding marketing decisions. A firm cannot implement the marketing concept without information about customer needs. Are customer’s lifestyles or preferences changing? Do some market segments still need to be reached? Who are the competitors? What product, price, distribution system, and promotional activities would…
The marketing concept is a management philosophy stating that an organization should strive to satisfy the needs of consumers through a coordinated set of activities that also allows the organization to achieve its objectives. If we want to understand the marketing concept, we need to understand the following core set of concept. We will know:…
A product consists of all the tangible and intangible characteristics provided in an exchange between a seller and a buyer. People buy a product for the benefits and satisfaction it gives. A product’s characteristics include not only its physical aspects but also its function, brand name, image, packaging, warranty, and price, as well as the…
The communication of positive, persuasive information about an organization or its products with the intent of directly or indirectly influencing exchanges is called promotion. Promotional messages can inform consumers about organizations and influence them to make a purchase or adopt special cause or belief. I will discuss- The role of promotion Promotional objectives Promotion mix…