Whether it is a private or public sector, organizations today are aware of the fact that it is very essential to communicate the target audience effectively and efficiently. Advertisements, personal selling, exhibitions, sales promotion etc. are various methods of promotion by which consumer come to know about the various products in the market. Continue reading “Concept of promotion”
The success of a company depends not only on how well it performs in respect of production but also on how well its entire channel of distribution. Channel of distribution play an important role in marketing because well managed channel provide sound competitive advantage to companies. The channel of distribution is required because the product has to move from factory to the customer, at right time, at right place and in right quantity. Continue reading “Channels of distribution or placing”
Whatever the problem is it has to go through research process. The marketing research process has stages to guide the researcher from start to finish. It has seven stages.
1.) Problem formulation: it involves designing research problem and research objectives. In this stage researcher decides what information is to be collected. It is of three types;
a) Exploratory research: its aim is to collect the preliminary information. That helps in defining the problem. Continue reading “7 stages of Marketing research process”
Marketing research is a systematic design, collection, analyses and reporting of the data related to marketing goods and services. Marketing research searches specific market problem and make the decision about a particular course of action.
Importance of marketing research
- It helps the in every aspect of marketing management.
- It helps in knowing the market potential.
- It is done before the product is launched or on a regular basis to keep in the market.
- It helps in knowing the strength and weakness of the company.
Major marketing research agencies in India
- Operational research group
- Marketing and research group
- Indian marketing research bureau
Just like traditional marketing, e-marketing also use marketing mix. E-marketing increases the company’s benefits and lowers the cost. With the help of marketing mix in e-marketing the company can increase its profit.
1.) Product:- with the help of e-marketing the company remain in touch with the consumer needs and make the product available as per the needs of the customer. Thus, even a small firm can compete with large multinational companies. Continue reading “Marketing mix in e-marketing”
What is E-Marketing:
With the rapid growth of internet, popularity of personal computer and broadband all over the world has helped a lot to the marketer by promoting and selling the product through e-marketing. E-marketing means doing the business with the help of computer.
The concept of e-business was coined by IBM, means business activities through the use of computer and internet. It helps in attracting right customers. E-marketing starts from the business environment and creates the plan that helps the company to accomplish its goals. The technology of e-marketing transforms the marketing strategy which results in adding consumer value and Increase Company’s profit. Continue reading “E-Marketing”
There are various techniques of marketing control to measure and evaluate the results of market strategy and to take corrective actions in case of any deviation. There are 7 techniques or methods of marketing control:
1.) Marketing audit:- marketing audit means regular checking of company’s environment, objectives and strategies and recommend a plan to improve the firm’s marketing performance. The job of marketing audit is done by marketing auditor. To do the marketing audit marketing auditor can ask questions to consumer, whole seller, retailer, or manager to judge the marketing performance. He may ask the following question: Continue reading “Techniques of marketing control”
Marketing control is the process of measuring and evaluating the results of market strategy and taking corrective actions to ensure that the marketing objectives are achieved
or not. There are number of steps in designing marketing control. These are:
1. Set up the objective
2. Design different control levels
3. Design the tools and methods of control
4. Variance analysis and reason of variance Continue reading “Marketing control and types”
After marketing planning there is the need of marketing organization. There are various types of organization structure, which may be on the basis of function, territory and product basis. Apart from all three there may be divisional organization in case of big companies.
According to Peter Drucker, “organization is not an end in itself it is a means to an end.” Continue reading “Marketing organization and its types”
Growth vector model or product market growth grid refers to the model which is used as a strategy either for existing or new market or for existing or new product. This model is explained below:-
Market penetration strategy
Product development strategy
Market development strategy
1.) Market penetration strategy:- Market penetration strategy is used when there is existing product and existing market. In this type of strategy the company attempt to penetrate either by improving quality, dropping down price or by attractive advertising. Continue reading “Growth vector model or product market growth grid”