What's it: Psychographic segmentation divides the population in a market into segments based on psychographic variables such as values, personality, goals, interests, and lifestyle. Compared with the other two market segmentation, demographic
Marketing and Sales
Product Orientation: Meaning, Characteristics, Pros, and Cons
What's it: Product orientation is a marketing management philosophy by promoting quality products to generate sales. The company assumes product quality as a determinant of demand in the market. They pay less attention to customer needs and
Asset-led Marketing: Definition and How It Works
What's it: Asset-led marketing is a marketing philosophy in which a company should base its marketing strategy on its core competencies, not purely on what customers want. The company leverages its core competencies to innovate, drive
Marketing Research: Objectives, Types, Steps, Methods
What's it: Marketing research is the efforts of systematically collecting and analyzing markets to support more effective marketing decision making. The stages usually include setting objectives, designing research and methods, collecting data,
Market Orientation: Meaning, How It Works, Pros and Cons
What's it: Market orientation is a business philosophy in which a company focuses on meeting customer needs and wants through its products. In this case, the company assumes its success depends on customer satisfaction.Satisfying customers
Commercial Marketing: How It Works, Different With Social Marketing
What's it: Commercial marketing is efforts to promote and sell products profitably. The keyword here is profit. That is the antithesis of social marketing, which has a non-profit motive and seeks to educate consumers about collective social
Advertising: Characteristics, Types, Objectives, Development Stages
What's it: Advertising is a form of paid non-personal communication transmitted through various media. Its purpose is to inform, educate, or persuade the audience to take any action in relation to the product, idea, or service being
Private Label: Meaning, How It Works, Advantages and Disadvantages
What's it: Private label products refer to products owned by a company but are not made in-house. Companies procure their products from other manufacturers or manufacturers with contracts under their labels. You can find them in a wide variety
Mass Marketing: Meaning, How It Works, Advantages and Disadvantages
What's it: Mass marketing is efforts to promote and sell products by targeting the mass market. The mass market is a market where many customers exist in a market with common needs. Companies view consumers in the market as having homogeneous
Niche Marketing: Meaning, Advantages and Disadvantages
What's it: Niche marketing is an effort to promote and sell products to target customers in a narrower market (niche market). Companies adapt their marketing mix and marketing strategies to meet specific wants and needs in that market.The
Advertising Agency: Meaning, Types, Department, Source of Income
What's it: An advertising agency is a company specializing in the planning, creation, and placement of advertisements for its clients. It may also provide other services, such as facilitating the marketing communication process and other
Business-to-Consumer: Meaning, Types of Business Model
What's it: Business-to-consumer (B2C) refers to a business model in which a company sells directly to individual consumers. This term is usually associated with selling via online channels or eCommerce. When a buyer is a company, we refer to it