Category: principles and practices of marketing

Inappropriate promotion being used. Stiff competition from the competitors. Highly priced commodities. Poor quality products. When the new product has not penetrated in the market fully. When the new product fails to meet the customer’s specifications. When the frequency of Read More …

1. Idea generation This is the creation of ideas .the ideas can be generated from; Customers i.e. Customer ways-this is where you ask customers their need and wants which are not being met. Focused group discussions-this is where you get Read More …

New products have three forms New to the world – this is a truly unique product that is there is no other product like that in the market. Improvement /revision to the existing products. These are products that are significantly Read More …

Introduction Like people, products go through a life cycle in that they are born, grow, age and eventually die or are replaced. Product life cycle refers to sales history of a product beginning with development ending with sales decline. 1. Read More …

Product refers to anything that can be offered to a market for attention, use, or consumption that might satisfy a want or need. It includes, Services Ideas e.g. consultancy firm on lectures where people purchase your idea and pay e.g. Read More …

Generally, the specific individual marketing mix elements can be used to elaborate more on the specific marketing mix importances Offerings in the market Helps to target the specific individual groups in the country. Assists in message delivery Value creation to Read More …

Finance – the business should consider how much money is to be spent on marketing. Needs of the market – the business should continue to carry out market research as the business grows, as the needs of customers change over Read More …

This is a framework which helps to structure the approach to each market. The mix is a bundle of variables offered to the customer. This is a tactical/operational part of a marketing plan. It is composed of the elements below Read More …

This is the systematic collection of data from the other three systems, the use of tools and techniques with supporting software and hardware by which an organization gathers and interprets relevant information and turns it into a basis for making Read More …

It provides accurate, effective and useful information that is vital for decision making across the entire organization. The decisions include; Size of the market. Customers and their buying motives. Changing trends in the market. Customer satisfaction /dissatisfaction with a product. Read More …