Marketing department structure may vary between companies. For example, a company's units might include sales, market research, promotion, and distribution. In other companies, the units may be based on geographic location, and product handled. In
Marketing and Sales
The Four Major Marketing Roles: What Are They?
Marketing plays an essential role in a business. Without this department, businesses cannot sell products. In fact, the company's products do not sell because they are not by consumer needs. The marketing department also plays a strategic role in
What Are Asset-Led Marketing Advantages and Disadvantages
Asset-led marketing has both advantages and disadvantages. Although more focus on internal strengths to satisfy consumer's needs and wants is relatively inexpensive, core competencies are not always relevant to market demands. The market
Product Marketing Strategy To Achieve Competitive Advantage
Some companies develop a product marketing strategy by differentiating their offerings. While others focus on cost and offer standard products. Both can be successful in gaining a competitive advantage. How did they develop it? What should they focus
Primary Research: Methods, Advantages, and Disadvantages
What's it: Primary research is a type of research where the researcher directly takes data from the original source. In other words, researchers are the first to collect data.Data may be qualitative or quantitative information. Qualitative
Secondary Research: Meaning, Sources, Advantages, Disadvantages
What's it: Secondary research, or desk research, is a type of research using external data sources, not original data sources. In other words, you are not first hand and therefore have no control over the accuracy of the data. For example, you
Unique Selling Proposition: Importance, How it Works and Examples
What's it: A unique selling proposition shows you a set of product benefits and solutions to satisfy customer needs and differentiate it from competitors' products. That is the main reason consumers buy a product, even though the price may be
7Ps Marketing Mix: Importance and Components
What's it: 7Ps is an extended marketing mix by considering the specific characteristics of services. The 7Ps marketing mix consists of:Product PricePlace PromotionPhysical evidencePeopleProcess 7Ps components7Ps are
Sales Forecasting: Meaning, Importance and Methods
What's it: Sales forecasting attempts to predict future sales for a specific period and with certain basic assumptions. It may be a sales value or sales volume. In contrast to sales volume, you need to assume price and volume to predict the
Customer Relationship Management: Meaning, Importance, Types
What's it: Customer relationship management (CRM) refers to the process of dealing with customers and usually includes developing, enhancing, and maintaining effective customer relationships. The company manages information and builds databases
Product Positioning: Meaning, Why It Matters, Type and Strategy
What's it: Product positioning is about placing the product in consumers' eyes and among other products on the market. It is essential to influence customer perceptions of the value of a product.For example, Apple positions the iPhone as a
Mass Market, Reimagined: A Guide for New Businesses
Once a dominant force in consumer economics, the mass market has undergone a significant evolution. While its core principles remain relevant, the rise of technology, globalization, and changing consumer behaviors have introduced new dynamics. This