Mastering Business Knowledge: Your MBA Notes Companion
Consumer behavior in marketing—Patterns, Types and Importance How often do you make choices in the morning? What outfit should I put on today? What scent should I wear? What should I take for lunch? If you consider it, we make several purchasing decisions every day, without thinking about them. However insignificant as they may appear…
What is Market Segmentation? Market segmentation refers to a term used to describe the process of grouping potential customers into segments or groups that share a common need and react similarly to a marketing decision. Market segmentation allows companies to focus on different types of customers who view the complete worth of specific products and services differently…
How to Execute a Marketing Plan? We can use a marketing plan at any point based on the results from the metrics. If digital ads are carrying out better than expected, for example, we can adjust the budget for a campaign to fund an advanced execution platform or the company can initiate a new budget. You…
What Is a Marketing Plan? A marketing plan is a working document that plans a marketing strategy that an organization will implement to make leads and reach its target market. A marketing plan facts the outreach and PR operations to be started over a period, with how the company will portion the effect of these…
What is Marketing Mix? Jerome McCarthy introduced the 4Ps marketing mix idea (also known as the 4ps of marketing) in his book: “Basic Marketing A Management Approach”. It states the considerately planned combination of policies and practices a company used to promote business and successful product promotion. Initially 4P, these elements are product, price, place,…
Modern marketing vs Traditional Marketing Marketing has an important role to play in the business’s brand positioning and ensuring the visibility of the brand in the market. In the digital stage where companies depend on digital media to promote their content so there has been a new argument has come about traditional marketing vs modern…
Functions of Marketing Marketing is a very comprehensive term and cannot be clarified in a few words. Marketing is an important business function that supports making the customers aware of the products or services that are offered by a business. The definition of marketing as defined by the American Marketing Association is as follows. “Marketing…
What do you mean by the concept of marketing explain its nature and scope? Meaning and Definition:- The term “Marketing “is derived from “Market”, which can be defined as–a place where buyers and sellers gather to buy and sell the products. But Marketing is not only about selling; because in order to sell the product,…
Arguments against Social Responsibility In the previous post, we have discussed Arguments for Social Responsibility of Business you can read about this by a just click on this post. Now, let discussed Arguments against Social Responsibility!!! Around are various arguments against social responsibility however most of these are based on classical economics. These arguments are as follows: 1….
Arguments for and against Social Responsibility of Business Why should businesses be concerned about social responsibility? Business social responsibility is a business’s concern for the welfare of society. Managers who take into attention the long-term interests of the business and the business’s relationship with the society in which it operates show this concern. 1. Business…