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?
Conjoint analysis is a statistical technique used for marketing research. It is used during marketing analysis to determine what a customer wants. Conjoint analysis determines how different consumers’ value different products based on different attributes. How does conjoint analysis work? Conjoint analysis can be referred to as an advanced tool for marketing analysis. It is … [Read more...] about Things You Need To Know About Conjoint Analysis
Almost everyone involved in the business world is aware of SWOT. SWOT is an analysis which helps firms to identify the internal and external factors that might affect future performance. Even though SWOT is commonly used by the management teams, it can prove great for branding and marketing as well. SWOT is an acronym. The letters stand for strengths, weaknesses, opportunities … [Read more...] about SWOT analysis to help with Branding and Marketing
Marketing is the process of moving all products and services from the concept phase to the consumers. Many think it is about providing value to the customers. It might seem easy to outsiders, but marketing is an important and complicated process. Usually, marketing entails working with the 4 P's. The 4 P’s of marketing are product, price, promotion and place. But, there is … [Read more...] about What Everyone Should Know About Marketing
When you are running a business, you need to monitor and scrutinize both internal and external factors to make sound decisions regarding its aspect, most notably product development, pricing, distribution, and promotion. If the business simply relies on guesswork instead of facts and figures that can be put down on paper and analyzed, it will soon find itself run over by … [Read more...] about How to Use a Market Analysis Template
Keeping a business afloat and also striving for growth and expansion requires you to come with techniques and systems that help you serve your customers without exceeding your budget and depleting your resources. This in turn requires that you create a profile of your ideal customer, create and test your marketing mix, promote clarity in the organization, and also invest in … [Read more...] about Business Analysis Tools and How to Use Them
The future is not detached from the present. If you want make an accurate guess of where you business will end a few years down the road, all you need to do is answer this simple question: How Do You Define your Business Strategy? If your business strategy isn’t clearly defined, that you will find impossible to develop and achieve growth, while also failing to meet your … [Read more...] about What Is a Business Strategy? An Overview
A business that doesn’t know its tools is a business that is destined to fail. In this article, we are briefly going to talk about market analysis tools (i.e. the most common methods to understand your target market), and how you can use them to achieve business success. But first, let us answer an important question. Why Analyze the Market? This can also include all the … [Read more...] about Market Analysis Tools and How to Use Them
Marketing traditionally has been defined as informing people about the benefits of a product or service and then persuading them to pay for it. However, over the years, the process of marketing has become extensive with increased emphasis on developing relations with clients, building a strong brand image, and customer orientation (where products are designed and redesigned … [Read more...] about Walkthrough of a Strategic Marketing Process