What is marketing? In simple terms
Marketing isn’t just about selling products; it’s about creating value and building lasting relationships with consumers.
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Internal factors influencing price
This articles outlines the main INTERNAL factors that influence a firm’s price decision, namely marketing objectives, marketing strategy, and cost structure.
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Age Cohorts and Gen Edge
Generation Edge, also known as Gen Z, is a demographic group that is currently coming of age and significantly impacting consumer culture. Born after the Millennials, they are the children of Gen Xers.
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Top 100 Brands in the World
Brand equity is a financial valuation of the firm’s brand contribution to profit.Most brand equity valuation firms – such as Millward Brown (as discussed in the link below) – look at brand equity on economic use basis.So what is an economic use basis?Economic use in the brand equity valuation is the proportion of extra profitability
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How to decompose market share: VIDEO
Market share can be decomposed into three components, namely:Penetration ShareShare of CustomerUsage IndexThe following video explains how these three components work together to calculate overall market share.
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Four brand strategies
When it comes to brand development, there are four main brand approaches, as shown in the following diagram.As you can see, this diagram is a matrix built around the two attributes of existing/new product category and existing/new brand name. This then determines one of the four boxes, namely:Product line extensionMulti-brandBrand extensionNew brandPlease note that the
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Brand name selection
Selecting a brand nameOne of the key decisions when bringing a new product to market, particularly if it is going to be under the umbrella of a new brand, is the brand name selection.There are two approaches to brand name selection.The first approach is to have a brand name that is somehow reflective of the
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What is a brand?
Definition of a brandA brand can be defined as a name, sign, logo, or design of a product/ service or a firm designed to identify ownership and to differentiate the offering in the marketplace.What are brand elements?Most products and/or firms will have some sort of brand identity materials. The elements of a brand may include:a
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The role of labeling in marketing
Product labeling decisionsProduct labels refers to the information attached to the packaging that helps describe the product in a little bit more detail.It is important to note that labeling is more information focused, as opposed to packaging itself (please refer to the separate article) which is more marketing communications related.Depending upon the product and the
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The role of packaging
Packaging decisions in marketingWhen we think of packaging, we tend to think about packaging’s role of being recognized and attracting attention inside a store. While this is a key goal of packaging, there are actually many other goals of packaging which need to be considered within packaging design.These packaging goals are discussed below.Protecting the product
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