Marketing

A competitive business environment is an essential part of many industries and organizations. It involves how different businesses compete in the market and how organizations adjust their strategies to remain relevant in the market. It involves promotional strategies, marketing channels, and pricing methods within a given market.  A competitive environment is a market in which

A marketing decision support system (MKDSS) is a system that helps businesses make informed decisions based on their marketing goals. It uses historical data to create various scenarios and analyze the potential outcomes, allowing businesses to identify the most effective approaches.  Marketing Decision Support System was first introduced in the 1970s and has since become

Diversification is a strategy used by many businesses to reduce risk, protect from competition and increase profits. It involves introducing new products or services which are related to the existing ones. Moreover, it is frightening to invest your own money into a risky business concept that could easily fail when it launches.   This helps to

Today’s marketplace is much more competitive and complex than ever before, with customers utilizing multiple channels during their journey to purchase. Multi Media marketing is now essential for modern businesses in order to exist within the consideration set of potential customers.  Multimedia marketing employs multiple advertising mediums to create an integrated strategy. This might include

Market research is an essential part of any successful business plan. It allows you to gain a better understanding of the market, the competition, and the potential customers who may be interested in your product or service.  Why Is Market Research Important for Your Business? Through market research, you can obtain valuable insights into customer

Product Service Management (PSM) is a marketing function that focuses on improving a product or service in response to changes in the market. It involves continual evaluation of the features of a product or service to ensure that it is meeting the needs of customers and staying competitive within the market.  Introduction to Product Service

Marketing math is a crucial part of running a successful business. It is used to evaluate numbers and see if your marketing efforts have yielded profitable results. Knowing how to use marketing math is essential when running a small business, as it helps you determine the success of your marketing strategies.  There are four main

Marketing research is a vital tool used by businesses to understand their customers and the market in which they operate. In recent years, advances in technology and internationalization have changed the way companies conduct marketing research. Technology has actually given rise to many new research methods that have become more and more popular as time

Making good marketing decisions is essential for businesses to remain competitive and successful in today’s marketplace. But what exactly does that mean? “Marketing decisions” refer to any decisions made by a company regarding its marketing strategy, such as which channels to use to reach potential customers, how to allocate resources, how to measure success, and