Use market research to analyze your customers and competitors on multiple levels. This will help you evaluate whether the demand for a product/service is real, and whether expanding into a potential new market is worthwhile for your company. Identify consumers segments that share common characteristics such as age, gender, education, income, occupation, and place of residence, or softer variables such as lifestyle and values. Also consider consumer motivation. What "job" is the customer...

A good customer relationship is when the customers have a consistent customer experience every time they interact with the business and leaves them with a good impression. There is mutual regard and understanding between the customers and business thus extends for a long period of time. The actions for building strong customer relationships embody providing real time support and also proactively offering solutions that are geared towards customer success. Customer relations aims to create a...

You and your team may be considering a variety of new business ideas and market opportunities, but not all of them are worth pursuing. It's important to narrow down your options and make sure you focus on the ones that have the highest potential for success. As an executive team's priority list grows, the company's revenue in fact declines relative to its peers." But focusing on a small set of promising initiatives can lead to above-average revenue growth.

The marketing mix is a tool used to help brands understand what elements must be combined in order to meet their marketing goals and objectives. Ultimately, this includes the 4 Ps of marketing: product, price, place and promotion.

We started with the basics of strategic planning and the need for a flexible and long-term approach, so you can zig when the market, competition, or internal issues. All of these factors should provide a framework for how you can engage with the following plans, starting with financial planning. Strategic planning is used to define and manage an organization’s strategic missions and initiatives, especially in larger enterprises where uncertainty produces conflicts.At a high level, a product...

Building a strong marketing strategy lies at the foundation of any prospering, competitive business. The marketing strategy is shaped by your overall business goals. It includes a definition of your business, a description of your products or services, a profile of your target users or clients, and defines your company's role in relationship to the competition. The marketing strategy is essentially a document that you use to judge the appropriateness and effectiveness of your specific...

Marketing is the homework that managers undertake to assess needs, measure their extent and intensity, and determine whether a profitable opportunity exists.We define marketing as a social and managerial process whereby individuals and groups obtain what they need and want through creating and exchanging products and value with others. The New Marketing Reality report, produced in association explores the challenges that marketers face in the three key battlefields of data, customer...

The concept of marketing is neither complicated nor original. ‘The customer is always right’ is a view that has been cited ever since the Industrial Revolution. Marketing acknowledges consumer sovereignty and this has now developed into a management discipline. The subject of marketing as a management discipline originated in the USA in the 1950s