In modern marketing, the customer should be at the centre of everything the company does. In other words, one should always start with the customer or consumer – a concept …
Category:
Marketing Basics
-
-
Marketing Basics
How to write a Marketing Plan – Framework for writing a perfect Marketing Plan
by MaxMarketing does not just happen. Products and services need to be developed carefully to ensure that they reach the consumer in the right way at the right place, time and …
-
Competitive EnvironmentMarketing AnalyticsMarketing Basics
Five Forces of Porter Framework – Assessing the Attractiveness of an Industry
by MaxThe Five Forces of Porter framework is a rather useful tool to determine the attractiveness of an industry. Named after Michael E. Porter, the Five Forces of Porter framework dictates …
-
Marketing AnalyticsMarketing BasicsProduct Marketing
The BCG Matrix explained – How does the BCG Matrix work?
by MaxThe BCG matrix, also known as the Boston growth-share matrix, is a tool to assess a company’s current product portfolio. Based on this assessment, the Boston matrix helps in the …
-
The market diffusion process describes how an innovation progresses through a market – that is, how it reaches various segments and buyer types that are present in the specific market. …
-
Marketing BasicsProduct Marketing
Characteristics of the Product Life Cycle Stages and their Marketing Implications
by MaxAll products and services have a certain life span which is measured by the chronological history of sales from the launch of the product until its withdrawal from the market. …
-
Marketing BasicsProduct Marketing
Classifications of Products – Convenience Products, Shopping Products and Speciality Products
by MaxThe product is at the heart of marketing activities. That makes it crucial to distinguish between the different classifications of products. Only by understanding what we are actually marketing, we …
-
Marketing BasicsProduct Marketing
4 Types of Consumer Products and Marketing Considerations – Convenience, Shopping, Specialty and Unsought Products
by MaxA product is often more complex to understand than the word itself may suggest. If you go shopping and look around, you quickly recognize that there are various types of …
-
Economies of scope and economies of scale are two often confused economic concepts that both have the same eventual objective: helping the company to cut cost. However, it is important …
-
Marketing BasicsProduct Marketing
Detailed Classification of B2B Goods – From Raw Materials to Components
by MaxWe have learnt so far that there are different Types of B2B Products. They can be classified into three categories: Entering goods, Foundation goods and Facilitating goods. Now, we want …