The Boston Consulting Group (BCG) Matrix is a simple corporate planning tool, to assess a company’s position in terms of its product range. The Boston Consulting Group (BCG) Matrix is a portfolio management tool created in 1970 by Bruce Henderson. It is also referred to as the BCG growth-share matrix.
Segmentation, Targeting and Positioning Market segmentation, targeting and positioning (STP) are the basic tools used by the marketers. Each customer has different needs, wants and…
What is Pricing? Pricing is the process whereby a business sets the price at which it will sell its products and services, and may be…
Majorly there are four methods for pricing determination strategies: 1. Cost based pricing 2. Break-Even Concept 3. Demand based pricing 4. Pricing related to the market.
Models of Communication Various models of communication are shown in Figure: Aida ModelLevidge and Steiner ModelHierarchy of Effects ModelInnovation-adoption ModelInformation Processing Model Aida Model One…
What is Advertising? Advertising is a paid form of communication in which the sponsor or the brand owner has made payments to the media to…
Marketing management is the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value.
Personal selling involves a face to face interaction with the customers wherein there is quick response and personal confrontation. This allows for more specific adjustment…
Types of Sales Promotion Sales promotion can be classified based on the primary target audience to whom the promotion is directed. Sales promotion can be…
Marketing Mix: The set of controllable tactical marketing tools – product, price, place and promotion – that the firm blends to produce the desired response in the target market. The mix consists of 4Ps, product, price, place and promotion.
