Category: principles and practices of marketing

Maintain impartiality towards political affairs Observing the laws of land. Paying taxes and rates. Contributing towards good economic conditions of the country. Safeguarding against illegal business practices e.g. selling black market goods. Ensuring fair play to all the participants of Read More …

Pay dividends to shareholders. Sensitize shareholders on the need to plough back profits and growth and expansion of business. Ensure fairness in relation with competition based on the rule of ethics (avoid unfairness i.e. low/high cost). Ensure professional practices (body Read More …

To pay fair wages and salaries and in good time. Ensuring fair training and promotion of employees. Ensuring satisfactory working conditions and social security measures (retirement benefits). Ensure good human relations i.e. maintain industrial peace. Provision of freedom, self respect Read More …

No pollution to the environment. Be socially responsible. Offer products of right quality. Offer products of right quantity. Offer products of right price. Locate markets and factories at proper places (not within residential areas but convenient to consumers). Honoring contracts Read More …

Marketing concept-this refers to the ways of business thinking that have evolved over time and they include; Production concept – this is the oldest philosophy that has guided the sellers. It can be traced to the industrial revolution. Organizations produced Read More …

Societies have moved from agriculture and individual self sufficient to an economy built around division of labor and specialization, urbanization and industrialization. It should however be noted that production for individual self sufficiency is not marketing because there is no Read More …

Global economy. Changes in technology Income gap Environmental imperative and social responsibilities Aging population Later marriages More divorce Single and smaller families Emergence of distinct ethnic consumer groups. Proliferation of more varied lifestyles. Stringent government policies Poor infrastructure. Inadequate finances

Environmental analysis and  marketing research-this usually involves monitoring and adapting to external factors that affect success or failure such as the economy and competition and  collecting data to resolve specific marketing issues. Broadening an organizations/individuals scope-this involves deciding on the Read More …

Creates utility-this is the ability to satisfy a need i.e. form utility-this occurs mainly when we have a change in state. Place utility-this mainly occurs in transportation. Time utility-this arises in all retail outlets and possessions utility-arises when we have Read More …

To attract new customers by promising them superior value. To keep the current customers by satisfying them accordingly. Creating brand awareness. Engaging the customers-e.g. the wings to fly program me adopted by equity bank. Building positive reputation towards firm i.e. Read More …