The company is not alone in doing business. It is surrounded by and operates in a larger context. This context is called the Macro Environment. It consists of all the forces that shape opportunities, but also pose threats to the company. The Macro Environment consists of 6 different forces. These […]
What is Customer Lifetime Value (CLV)? It is a prediction of all the value a business will derive from their entire relationship with a customer.
There are five Marketing Concepts, also called marketing management orientations. These are different concepts which focus on various techniques to create, produce and market products to customers. In essence, one could see them as the basic philosophy of marketing.
As explained in more detail in ‘What is Marketing?’, marketing can be defined as building profitable customer relationships by creating value for customers and capturing value in return. But what is involved in the Marketing Process? What steps allow a firm to fulfil the definition of marketing? Here is a […]
Advertising is a critical component of marketing. But advertising, as marketing, has not always been the same. Over time, advertising, and more specifically, its purpose, has changed – we will call it The Evolution of Advertising.
Before marketing can implement strategies to improve the company’s position, the current situation of the company in relation to its environment should be known. A SWOT analysis is an effective tool to evaluate this situation.
Marketing’s goal is to create value for customers and build profitable customer relationships in order to capture value back afterwards. But how does the company create this customer value? The marketing strategy addresses exactly that. It is the marketing logic by which the firm wants to create this customer value […]
Once the company has analysed its current business portfolio and determined which SBUs should receive more and which less investment, it must now shape its future portfolio. This is the second essential part of designing the business portfolio: Portfolio Planning. By using the Boston Growth-Share Matrix portfolio analysis approach, the […]
It is often thought that a company should acquire as many customers as possible. In the end, the more customers, the more revenue, right? No, that is not necessarily true. Not all customers, not even loyal customers, are good customers. Although it might be surprising, loyal customers can be more […]