SWOT analysis is a strategic planning tool used for understanding and decision making for all sorts of situations in business and organizations. SWOT is basically an acronym for Strength, Weakness, Opportunities and Threats. SWOT analysis is used for used for business planning, strategic planning, competitor evaluation, marketing, business and product development and research reports. …
For a marketer, it is imperative to understand the basic principle of marketing that is Needs, Wants, and Demands. These may sound to be fundamental words but they act as major differentiating factors. NEEDS: Needs are the essentials required by a human to survive. These are the things used to fulfill the states of deprivation …
A PESTLE analysis is a strategic management tool that is used to identify, analyze, organize, and observe key external factors that can have an impact on a company now and in the future. This framework reviews and examines threats and opportunities due to Political, Economic, Social, Technological, Legal, and Environmental forces, to help in planning …
A well-known theorist from the behavioral era of management history, psychologist Abraham Maslow, proposed a theory of motivation based on universal human needs. Maslow believed that each individual has a hierarchy of needs, consisting of physiological, safety, social, esteem, and self-actualization needs, as shown in the diagram below. Maslow’s theory of motivation says that …
Sales and Marketing are crucial to the success of any business. Some people consider both as the same and often use them interchangeably. It’s no doubt that both the terms have the same end goal i.e. to increase the overall sale, customer base, and revenues of the company. But they are two different concepts and …
Originally, the term “Market Myopia” was introduced by the Theodor Levitt in the marketing paper. It was published in the HBR (Harvard Business Review) in 1960, (republished in 2004), where he stated that businesses can do better than just selling their service or products. His main argument was that companies are too focused on producing …
What is Marketing Myopia? (Causes With Examples) Read More »
Every company has a different philosophy or idea to design a marketing strategy that satisfies consumers’ needs, maximizes their profit, and also beats their competition. But which philosophy will be utilized by the businesses to direct their marketing efforts? What weight is given to the interests of the company, customers, and society? All these interests …
Product life cycle is the journey of a product from the development stage to the decline stage. A product introduced in the market undergoes 6 different stages until it is phased out of the market. The concept of PLC is to help businesses to make decisions on how to grow and mature in the market …
Marketing lets one show his or her creativity to sell/advertise/brand a product or service. And surprisingly, there is a concept to distinguish between the kind of marketing you wish to follow. Companies are selling their goods in various ways. They fall into one of these two categories- ATL (Above the line) & BTL (Below the …
Above The Line & Below The Line Marketing (With Examples) Read More »
Brand Equity speaks about the additional value that a consumer connects to the brand that is different from all the other brands present in the market. Said differently, Brand Equity means the perception, awareness, and loyalty of a customer towards the brand. In marketing, brand equity cites the value of a brand and is …
