Day: January 19, 2022

The term marketing mix refers to the tactical elements of the marketing strategy. It is the blending of product, price, promotion and place. Product Product refers to anything that can be offered to a market for attention, use, or consumption Read More …

Marketing strategy is a plan which determines the firm’s marketing goals; marketing strategy explains how the goals will be achieved within a stated framework. It also determines the choice of target market segment, positioning, marketing mix and allocation of resources. Read More …

Types of consumer buying behavior are determined by: Level of Involvement in purchase decision, importance and intensity of interest in a product in a particular situation Buyers level of involvement determines the reasons for motivation to seek information about a Read More …

Defining Consumer Behaviour Consumer behavior is the decision processes an individual or group involving evaluating, acquiring, using or consuming goods and services. A firm needs to analyze buying behavior for: Buyers reactions to a firms marketing strategy has a great Read More …

The major components of the Marketing Information Systems include: Internal report system Marketing intelligence system Marketing research system Marketing models Figure 4 illustrates the major components, and other factors that constitute the marketing information systems and its subsystems Internal reporting Read More …

All the above three are interrelated. First, let us look at the marketing information systems (MIS). Kotler defines, marketing information systems as follows: “A marketing information system is a continuing and interacting structure of people, equipment and procedures to gather, Read More …

The Time Value of Money INTRODUCTION As individuals, we often face decisions that involve saving money for a future use, or borrowing money for current consumption. We then need to determine the amount we need to invest, if we are Read More …

Micro-environment is the environment that is closer to the firm in comparison to the macroenvironment. Under macro-environment comes: competitive environment which requires looking into the rivalries, the emerging firms that may enter into the industry, the substitute product that may Read More …

Marketing environment is the factors and actors that influence the decision-making in marketing. Broadly, the marketing environment can be categorized into: the external environment and the internal environment. The internal environment is the one the firm is able to control Read More …

There are major five alternative marketing management philosophies or often which are also known as alternative marketing orientations or concepts under which organizations conduct their marketing activities. These are The production concept The product concept The marketing- orientation/concept The societal Read More …