Marketing is the only way by which consumers are able to gather knowledge about a particular product. Marketing enables the company to build their brand awareness among the consumers. The buying habit of the consumers has changed a lot in the recent years and for that, the marketing process has also changed as per the requirement of the consumers. The two marketing process are ruling the world but to know which on is the better is debatable. The traditional marketing that is company advertising and the online marketing is the two marketing option in today’s world. Traditional marketing or the company advertisement is the old way of marketing the products and this method includes print media, broadcast media, direct mail, and telemarketing. Online or digital marketing is the new tradition in the field of marketing. This includes the social networking sites, video marketing, banner ads, websites, reviews of the products Continue reading
Marketing Concepts
Approaches to Studying Consumer Behaviour
There are two broad approaches to the study of consumer behavior: 1. A Managerial Approach 2. A Holistic Approach A managerial approach views consumer behavior as an applied social science. It is studied as an adjunct to and a basis for developing marketing strategies. A holistic approach views consumer behavior as a pure rather than applied social science. In this view, consumer behavior is a legitimate focus of inquiry in and of itself without necessarily being applied to marketing. Although it may appear that the first view has the most credence for marketers, in reality, a holistic approach also provides a useful perspective to strategy in many cases. A Managerial Approach A managerial approach to consumer behavior tends to be more micro and cognitive in nature. It is micro in emphasizing the individual consumer: his or her attitudes, perceptions, and lifestyle and demographic characteristics. Environmental effects- reference groups, the family, Continue reading
Internet Advertising – Definition, Advantages and Disadvantages
The key of successful business is the business how to promote the product and services to all readers by using the online. According to the statistical data, more of the 80% people will everyday surf through the technologically such as internet. So, the internet has becomes an indispensable part of people’s lives. Thus, it can be considered a wide channel for the business which wants to promote their products and services to all the people. The internet advertising method has becomes the most popular method for the business. It is because internet advertising is easy and low advertising cost. Besides that, the internet advertising also have a lot of the readers or viewers. Internet advertising followed the commencement of the World Wide Web. The World Wide Web was introduced in 1991 by CERN located in Switzerland. It acted as an easily accessible medium for various companies to market their products. Continue reading
Advertisement Copy Testing – Explanation and Methods
Almost every firm spends thousands of rupees on advertising every year; it is very much pertinent to know the effectiveness of the advertisement copy. The main purpose of every advertising is to arouse the interests of the people in the firms product can everyone be perused by the same advertisement? Or will the same advertisement satisfy all types of people? The simple answer is in negative because people differ so greatly in their wants, in the economic and other motives which actuate them, and in the various ways by which their interest is aroused. It is why some advertisements are more effective than others. The amount is spent on advertising not only because the advertisement does not get to the right people but because it carries an appeal which does not interest those to whom it goes. An often quoted remark about advertisement is that half the money spent on Continue reading
Introduction to Services
A service is the non-ownership equivalent of a good. Service provision has been defined as an economic activity that does not result in ownership and is claimed to be a process that creates benefits by facilitating either a change in customers, a change in their physical possessions, or a change in their intangible assets. By composing and orchestrating the appropriate level of resources, skill, ingenuity and experience for effecting specific benefits for service consumers, service providers participate in an economy without the restrictions of carrying stock (inventory) or the need to concern themselves with bulky raw materials. On the other hand, their investment in expertise does require consistent service marketing and upgrading in the face of competition which has equally few physical restrictions. Many so-called services, however, require large physical structures and equipment, and consume large amounts of resources, such as transportation services and the military. Service Characteristics A service Continue reading
Sales Force Management
Sales Management is an integral sub-system of Marketing Management. It translates the Marketing Plan into Marketing Performance. Sales Management is hence described as the muscle behind Marketing Management. Every organization has people who are entrusted with the responsibility of dealing with prospects and customers to sell their products or services — its salesmen. They may be called technical executives, sales executives or marketing executives. Whatever the term is used, their major concern in the sales function is to constantly improve the profitability of the territory. The Sales Manager in a modern organization holds a multitude of responsibilities. He has to plan, direct and control the personal selling effort of the firm. His task does not stop with the achievement of sales quotas. He is also responsible for bringing in the required profits. In addition, he is also responsible for creating the desired image for the company and its products. In Continue reading