The marketing mix is a business tool which is especially useful when selling a product or service. Introduced in 1960, this marketing tool evaluates the attractiveness of an offer through various different factors -- the “Ps”. This article will explain what the marketing mix is, and why it is relevant to you. What are The Ps? When first conceived by Michigan State … [Read more...] about What is The Marketing Mix?
When starting a business, analysis is key. For instance, addressing the strengths, weaknesses, opportunities, and threats (SWOT analysis) of your business provides valuable insight for success. And examining the political, economical, social, technological and additional factors (PESTLE analysis) helps gauge current and future obstacles. But to see where your business stands … [Read more...] about 3 Competitor Analysis Tools for Strategic Planning
Marketing is a key aspect of a firm’s products and services. The right marketing strategy allows firms to achieve goals and gain a competitive advantage. Enterprises worldwide conduct various short-term and long-term analyses to assess their business environment. Marketing is a creative message to influence business sales by capturing the interest of your target … [Read more...] about What “PESTLE” Stands for in Marketing
It is nothing short of incredible that brands today are achieving an unequivocal victory with top-notch marketing strategies. Beginning from the level of entrepreneurs to ginormous business leaders and trend setters, these strategies are delivering the results. There are several internal and external factors that have an impact on any organization’s environment, which are … [Read more...] about Where and How to Apply PESTLE Analysis in a Marketing Plan
SWOT marketing is when you look at a particular type of company and you focus on the SWOT analysis which includes strengths, weaknesses, opportunities and threats. Your next step is going to be that as you look at these various categories closely. If you are a manager who works in the marketing department, you’re actually going to put down the various types of companies that … [Read more...] about 5 Steps to Better Understand SWOT Marketing Analysis
Conjoint analysis is a statistical tool used to understand the consumers better. It is used during a marketing research to determine what a customer wants in their products. It determines what things which a customer from buying their goods or services. Conjoint analysis is concerned with how a customer makes their choice when buying things. Based on this analysis, a company … [Read more...] about A Conjoint Analysis Example to Explain How it Works
In order to run a business smoothly, you need to do a lot of things. These things include doing a certain analysis. You forecast your profitability, decide what combination of resources to use, assign the work order to different employees and so on. The business does a SWOT analysis which is basically finding out the strengths and weaknesses of the company. It also manages to … [Read more...] about What Is Marketing Competitor Analysis and How to Do it
Marketing data analysis is a technique where the business will take all the available information regarding the market and come up with a marketing plan. It is a very vital piece of activity for any sort of business. It also shows you how well you have done in the market using your current marketing techniques. It shows the progress and results of the past. Marketing data … [Read more...] about Reasons Why Marketing Data Analysis Is Important
A marketing analysis is a study of the dynamism of the market. It is the attractiveness of a special market in a specific industry. Marketing analysis is basically a business plan that presents information regarding the market in which you are operating in. It deals with various factors. What is the use? A marketing analysis is done so that you can formulate a strategy on … [Read more...] about What is Marketing Analysis?
What is SWOT? SWOT is basically the acronym for; Strengths, Weaknesses, Opportunities, and Threats. It is a very effective tool used in the business industry to form strategies. You synthesize the data from internal factors to find out your strengths and weaknesses. You use the external factors to identify the threats and opportunities. SWOT Analysis in Marketing SWOT … [Read more...] about How To Do SWOT Analysis In Marketing?