What is personal selling?

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Last updated: January 2017 Definition of personal selling Personal selling is one of the major elements of promotional mix. It is a face-to-face activity which takes place between the sales force of a company and the customers. According to Lancaster, & Reynolds (2004), personal selling is about personal communication of information with a view to persuading customers to purchase, so it is a major communications tool. Examples of personal selling Personal selling is of different types. For example, many companies send their sales executives to make sales presentations at prospective […]

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What is product life cycle?

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Last updated: January 2017 Definition of the product life cycle The product life cycle is a very important topic in marketing literature. According to Lancaster & Reynolds (2004), the product life cycle refers to various stages a product goes through in its life from the time it is conceived to the time it is removed during the decline stage. It has four stages namely introduction (launch), growth, maturity and decline. What are the main stages of the product life cycle? The main stages of the product life cycle are as […]

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Different techniques of sales promotion

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Last updated: November 2016 Different techniques of sales promotion Different techniques of sales promotion. There is no doubt that competition is very intense almost in all industries. In such situations, marketers apply different techniques to persuade customers to purchase their products and services. Sales promotion is one of those techniques. When used appropriately in line with other elements of the marketing mix, sales promotion can turn out to be very effective in acquisition of new customers and retention of the existing ones. What is sales promotion? According to the Institute […]

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SWOT analysis of Apple Inc.

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Last updated: November 2016 What is SWOT analysis? Strategic planners use a number of tools to audit their organisations.  SWOT analysis is one of the tools which many of them find extremely useful. SWOT stands for strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are internal factors. Opportunities and threats are external factors (Needham et al, 1995).SWOT analysis of Apple Inc.The use of SWOT analysis may play a very important role in the strategic planning of any organisations. The following is a brief SWOT analysis of the Apple Inc: Strengths […]

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Marketing mix- The additional elements

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Last updated: November 2016 Image: Pixabay A brief history of the marketing mix A number of writers have contributed to the development of the concept of marketing mix. The term marketing mix was first used by Neil Borden back in 1949. However, it is widely accepted that Edmund Jerome McCarthy, a marketing professor at the Michigan State University, is the architect of the first 4Ps of the marketing Mix. Booms and Binter have built on the work of McCarthy and suggested an extension of the mix in 1981 making it […]

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4Ps of marketing

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Last updated: October 2016 Image: Pixabay What is marketing mix? The marketing mix is one of the most famous and widely discussed marketing topics. A number of elements together constitute a marketing mix, however, Edmund McCarthy has identified the four key elements of the mix namely product, price, place and promotion. The marketing mix actually is the set of actions that companies develop and implement in order to promote their products and services to the target audience. A brief history of the marketing mix The term marketing mix was first […]

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Marketing key role

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Last updated: October 2016 Image: Pixabay Marketing Key Role: Marketing is a very important business function. It is extremely difficult (if not impossible) for a company to survive in today’s fiercely competitive business world without implementing appropriate and effective marketing strategies. In fact, no marketing equals to no business. What is marketing? The Chartered Institute of Marketing defines marketing as the management process responsible for identifying, anticipating and satisfying customer requirements profitably. The marketing key roles function Marketing plays a number of important roles in business. Market research, product development, […]

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What is Marketing?

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Last updated: October 2016 Image: Pixabay What is marketing? The Chartered Institute of Marketing defines the management process responsible for identifying, anticipating and satisfying customer requirements profitably. It has been defined by the American-Marketing-Association (2013) as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. The definition  given by the Chartered Institute of Marketing focuses on the aims of this, whereas the definition given by the American Marketing Association identifies the methods through which Its can […]

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What is SWOT analysis?

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Last updated: August 2016 SWOT analysis is a tool for auditing an organisation and its environment. It is the first stage of planning and helps marketers focus on key issues. SWOT stands for strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are internal factors. Opportunities and threats are external factors (Needham et al, 1995). SWOT analysis is a brilliant business tool. It can be applied in a number of contexts. For example, one can carry out a personal SWOT analysis in order to plan for an appropriate career plan. Companies […]

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Advantages and disadvantages of different advertising media

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Last updated June 2016 Promotion is one the four major elements of marketing mix, and one of the major methods of promotion is advertising. Companies spend billions of dollars worldwide on advertising to promote their products and services. Advertising can be done by using a number of methods. Definition of advertising ‘Advertising is one of the most influential forms of communication within the promotional mix, and the one that perhaps has the most impact upon our everyday lives’ (Hughes and Fill, 2003, p.27). Advertising serves a number of purposes; therefore […]

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