Category: Business Studies
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Product life cycle
Stages of product life cycle Development Introduction Growth Maturity Saturation Decline
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Brand name influence of sales
Influence of brand name on sales Brand names aim to build customer loyalty The help the customers remember the brand name along with the product Building a strong brand name results in an increase sales
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Benefits of packaging
Packaging provides the following benefits: Attractive colors Safety for the product inside Information regarding the product Strong brand name
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4ps marketing mix
What is Product in the marketing mix? A good or service being sold by the company What is Price in the marketing mix? The price charged by the business for the good or service What is Place in the marketing mix? The different places where the product or service will be available for…
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Marketing mix
Marketing mix Product Price Place Promotion
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Mass marketing-Niche marketing
Mass marketing Selling the products and services to the entire population. There is no segmentation done in mass marketing Niche marketing Selling the products and services to a small group of people There is segmentation done in niche marketing
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Market segmentation
Market segmentation according to Age Socio-economic groupings Location Sex Importance of segmentation By the process of segmenting people with similar needs, wants or tastes are formed into a group The company can market its products more efficiently after the segmentation has been done Selection and justification of a method of segmentation
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Factors influencing market research
Factors that influence accuracy of market research The attitudes of the people questioned Money Kind of questions (simple or difficult) Number of people being questioned
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How to conduct market research?
How market research can be carried out Interview Questionnaire Giving the people samples Observation