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What is Good Marketing?
Marketing is a process of understanding consumers and devising ways of providing goods or services based on the demands of the consumers. Marketing is one of the most important aspect of corporate strategy, the end result for which is efficient revenue generation for the firm. The marketing process of an organization aims at getting [...]
Marketing Mix
The term “marketing mix” became popular after Neil H. Borden published his 1964 article, “The Concept of the Marketing Mix“.
Marketing mix refers to the four critical P’s of marketing, understanding of which helps the firm to market their products and services in an effective way. For building an effective marketing mix it is [...]
Boston Product Matrix
The Boston Matrix was developed by the large US consulting group BCG (Boston Consulting Group). This matrix is a powerful tool that assists the firms planning their product portfolio. It has two controlling characteristics: relative market share and market growth as suggested from the figure below.
Figure 5: Boston Corporate Group matrix
It has four cells and [...]
The Nature of Markets
A market is a social structure that brings together a buyer and a seller to agree a price to exchange goods or services. In a market a firm and its products are priced and evaluated by the consumers or the buyers. The chief function of a market is to adjust prices to accommodate fluctuations in [...]
Critique: Market Research
This section dicusses market research, sampling methods. research methods, quantitative research, and statistical analysis, and provides a critical evaluation on each.
Direct approach to the customer is a market research approach, which is informed by both positivist and phenomenological - or quantitative and qualitative methodologies. Where the business cannot employ off-the-peg data already generated, it must [...]
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