Day: January 19, 2022

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 …