Marketing

Someone from your close circle must have approached you to try some products at factory rates. Moreover, they might have also asked you to become a distributor just like him and earn a decent commission. If yes, then you have been pitched for Network Marketing Business. Definition: Network Marketing implies a people-oriented business model that involves direct sales and … [Read more...] about Network Marketing

Definition: Mass Marketing, also known as Undifferentiated Marketing, is a marketing strategy that targets the whole market (without segmentation) with a single product. It appeals to many customers with a generic business strategy developed for a core product. Mass marketers target one big market, offering one product for all the buyers. Therefore, the firm produces one … [Read more...] about Mass Marketing

You might have purchased different combos or packages made of several products. Moreover, you must have saved some amount while buying them. The overall price of these bundles or packages is the Bundle Pricing. Definition: Bundle Pricing is a popular pricing strategy where a group of individual products are sold together as a single product whose combined price is lesser … [Read more...] about Bundle Pricing

Every time you go shopping, especially at some supermarket or mall, you become prey to the fancy offers displayed everywhere, which is nothing but a Psychological Pricing Trap. We come across it every day at offline or online marketplaces. It has a substantial impact on customer's minds and their buying behaviour. The most common examples are promotional offers like: … [Read more...] about Psychological Pricing

Definition: Concentrated Marketing is a market coverage strategy focusing on a single target market. Marketers strategize to grab a large share of a small market instead of a small percentage of a large market. It is specifically designed to cater for a specific set of audiences. It focuses on a single market segment. For this reason, it is also known as the Single Segment … [Read more...] about Concentrated Marketing

Definition: Eco-labelling is an eco-standardization that grants eco-labels to approved products and product categories. It indicates that the certified product is sensitive to the environment and does not cause any harm to the environment during its entire life cycle from cradle to grave. It is a market-based & consumer-oriented approach that creates clear symbolic … [Read more...] about Eco-labelling

Imagine you own a product of some sort, and nobody is aware of it. Customers or Dealers will only buy it once they are informed about it and its associated benefits. Here, the Promotion mix comes into the picture. Definition: Promotion Mix or Communication Mix is the blend of the various promotion variables or elements that help promote the organization's offerings, such as … [Read more...] about Promotion Mix in Marketing

Definition: International Pricing refers to the strategic marketing activity determining the monetary exchange value of the product sold across countries. It is the flexible element of the marketing mix which can be altered easily. However, price competition in the market is a significant issue. Also, it is an essential factor in determining the following: … [Read more...] about International Pricing

You might have observed that some brands and products fail despite being successful at some point. The primary reason behind their failure is a disease named Marketing Myopia. It is the firm's near-sightedness towards its product, strategies and market definition. In general, Myopia or near-sightedness is a vision disorder wherein one faces difficulty in seeing … [Read more...] about Marketing Myopia

Definition: Meta Market is a customer-centric virtual market that offers closely related products or services belonging to the same industry or diverse set of industries. It strives to cater for the similar needs of diversified customers under one roof. Moreover, we can understand it as a platform that develops and maintains exchange relationships. These relationships exist … [Read more...] about Meta Market