Market segmentation is one of the most important tasks in marketing. Particular attention should be paid to value-based market segmentation. Identifying subgroups in a market guides marketing and sales decision-making …
Category:
Marketing
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Marketing Basics
Estimating Differentiation Value – Measuring Monetary and Psychological Value
by MaxValue-based pricing requires the estimation of the economic value of a good. For this, estimating differentiation value becomes important: to what extent does a product or service provide additional value …
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Marketing BasicsProduct Marketing
Definitions of Product Quality – Different Approaches to Quality
by MaxThere are different definitions of product quality. What is actually meant by quality? How do you measure it? As you may realize in the following, quality has many facets and …
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Over time, industrialization (of services) has come to mean standardization, routinization and ultimately the McDonaldization of services. What is meant by this term and what might be the downsides of …
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Marketing BasicsService Marketing
Marketing Mix for Services – 7 Ps of Integrated Service Marketing
by MaxMarketing activity is normally structured around the 4 Ps – product, price, promotion and place. That is, when discussing strategies to market manufactured goods, marketers usually address these four basic …
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Marketing Basics
Relationship Marketing Strategies – Differentiating Relationship Marketing and Transaction Marketing
by MaxOver the past 40 years, relationship marketing has emerged as the accepted paradigm of modern marketing. Essentially, relationship marketing strategies are based on the notion that it is better and …
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Marketing models have undergone constant development over the past 150 years. Before the emergence of the marketing orientation, there have been several eras of different views and concepts. To understand …
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Market challengers may not be the most powerful ones in an industry, but can still be the most dangerous ones due to their aggressiveness. In order to successfully increase market …
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Marketing Basics
Functions of Distributors – What roles do Distributors play for Manufacturers and Consumers?
by MaxIn industrial markets, intermediaries may be the key factor in the success or failure of a company. Particularly in today’s global markets, manufacturers have great difficulty in serving markets directly, …
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What is meant by market share? The answer you are most likely to give, is simple. Market share is the share of the market occupied by the company. But is …