Using social media in marketing allows businesses to expand their reach to more customers. Your customers are interacting with brands through social media, therefore, having a strong social media marketing plan and …
Category:
Marketing
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How to create a marketing plan? Actually, every business needs one. But few are able to tell you what exactly a marketing plan should consist of. Therefore, we give you …
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Marketing BasicsProduct Marketing
Product Life Cycle Strategies (PLC) and Characteristics – Managing each PLC Stage
by MaxThe Product Life Cycle contains five distinct stages. For the four stages introduction, growth, maturity and decline, we can identify specific product life cycle strategies. These are based on the characteristics …
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Marketing BasicsProduct Marketing
Product Life Cycle Stages (PLC) – Managing the Product Life Cycle
by MaxAfter having been launched, a product should enjoy a long and happy life. But each product has a product life cycle (PLC) – the product’s life is not infinite. In …
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Branding consists of a set of complex branding decisions. Major brand strategy decisions involve brand positioning, brand name selection, brand sponsorship and brand development.
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Marketing BasicsService Marketing
Definition of Services and Characteristics of Services: What is a Service – And what makes it so special?
by MaxWhat is a service? While this is a simple question, it is more complex than you might think. Is it the coffee you get served in your favorite coffee bar? …
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Marketing BasicsProduct Marketing
Product Mix decisions – Width, length, depth and consistency
by MaxNext to product line decisions, product mix decisions are a key requirement to set up a firm’s range of products and services for success. Product mix decisions arise as soon …
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Beyond decisions about individual products and services, the product strategy also requires product line decisions. That is, it calls for building a product line. But what is a product line, …
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Marketing BasicsProduct Marketing
Three Levels of Product – Core Value, Actual Product and Augmented Product
by MaxIf you think of a product, you most likely think of a product in its simplest form – you only think of one of the three levels of product. Let’s …
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Market SegmentationMarketing Basics
Positioning – Occupy the right Position in Consumers’ Minds
by MaxDifferentiation and Positioning are the last steps of the marketing strategy. We will now look at the process of positioning in more detail.