During the period of WW2, the industry was producing machine guns, weapons, and other wartime equipment. When the war finished, the industrialists changed their focus to consumer goods. They maintained the same pace of production as of the wartime in the 50s. Consequently, the supplies exceeded the demand in the market. Now businesses and companies had a great challenge and …
The Macro environment tends to focus on the broader issues of the business like the economy, socio-cultural environment, laws and regulations, technology, and politics. Economics is going to be the main area of interest when we speak of business. But it doesn’t mean we can ignore other macro-environmental factors, all of those factors are equally important. In simple words, we …
The digital age of the internet and the World Wide Web has transformed and computerized everything. The traditional marketing concept, strategies, and processes have shifted into e-marketing. Marketing over the internet or e-marketing involves more advanced and sophisticated tools. They provide easy access to the analytics and data, so the marketers could align their marketing and business strategies along with …
Studying consumer behavior is very important for businesses and marketers, and their business strategy relies on reports of consumer behavior. As we know that the consumer is the person who consumes or uses the goods and services, and the customer is the person who buys from the retail store. In the customer vs. consumer article, we have had a detailed …
Many people use the two terms “consumer” and “customer” interchangeably and they think it’s the same thing. But they have different meanings from the marketing point of view. Especially if you want to be accurate and convey the precise message, then you have to choose the right word it. Today we’ll discuss “customer” and “consumer” and how these two terms …
Many people consider “consumer” and “customer” the same thing. They may be the same thing in a figure of speech, but they’ve completely different meanings from the marketing point of view. The reason people usually misinterpret the two terms is that they both refer to the same person. But when it comes to definition and interpretation, they’re completely different. Today, …
In the online world, you must have come across some book, application, or tune that you like. But the owner requires you to pay a certain amount to use it and you’ve made the payment for it. Marketers call it micropayment in the e-commerce world. A micropayment is a minimum amount that you have to pay to use the product/service. …
A strategy is very important to achieve something in your life. Marketing strategy for your business is also no exception because it’s not a single activity completely separate from all the operations of your business. Instead, it’s a combination of various departments, production, finance, and sales. If your company doesn’t have a strong marketing plan and strategy, it would jeopardize …
Have you ever thought that you can also buy a product at a price below its cost? If I tell you that you can. I am talking about loss leader pricing, which is an aggressive pricing strategy. Today, we’ll discuss the loss leader pricing strategy in detail and why businesses are willing to follow it. What is Loss Leader Pricing …
Marketing strategy helps you to understand your target customers, the company’s goals, and advertising methods and techniques to reach more audiences. So that you could plan everything on time, and avoid unexpected circumstances in the future. Today, we’ll discuss different types of marketing strategies, and how you can choose an effective marketing strategy. Here it follows; What is Marketing Strategy? …
