Marketing

Segmentation, Targeting, and Positioning (STP): Meaning and Importance

segmentation, targeting, and positioning

Segmentation, targeting, and positioning (STP) is one of the most important approaches in the modern marketing concept. When an organization decides about launching a product to the market, they have to pay special attention to market segmentation, targeting, and positioning. The success of any marketing campaign relies on the proper segmentation, targeting, and positioning of …

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Relationship Marketing: Meaning and Importance

Relationship Marketing

With the increasing number of similar types of businesses and changing customer needs and wants, it is challenging for any organization to retain customers by creating customer satisfaction. Relationship marketing is a concept that has been evolved as one solution to this challenge. Relationship marketing is a strategy that is designed with the aim of …

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Market Targeting Strategies : 4 main segments

Market Targeting Strategies

Market segmentation explained how the market should be subdivided into small portions to be more manageable efficiently and effectively. Market Targeting strategies explain how companies evaluate and select the target marketing segment which they can serve best and which they can achieve the biggest profit. When evaluating different market segments to decide the best segment …

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04 Variables of Market Segmentation

Market Segmentation

Buyers in any market can be identified separately based on their needs, wants, preferences, resources, geographical locations, and purchasing power. Through Market segmentation, the large market is divided into smaller, more manageable segments where the organizations can analyze and reach more efficiently and effectively. The organizations can select one or more market segments based on …

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SWOT analysis : 4 aspects

SWOT analysis

SWOT analysis is a strategic tool used in analyzing organizational Strengths, Weaknesses, Opportunities, and Threats. Every organization that is operating with the aim of survival and profit orientation is keen to analyze its internal and external organization to identify the pros and cons of the organizational environment. The SWOT analysis was introduced by a management …

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Importance of a marketing plan: 06 reasons why you should have a marketing plan for your business

Importance of a marketing plan

Marketing plays a huge role in the success of any business organization. No matter how good your product is, it needs a proper marketing method to make the customers aware of the product and to create the customer need for the product. The importance of a marketing plan should be identified by every organization prior …

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