Types of Product and Service in Marketing Management

There are different types of goods in the market and when planning and developing a product, it is important to take these types into account. This is due to the simple fact that different type of goods are bought at different times and for various reasons.

You have to take into account the purpose of your product and what it will be used for as these will translate into the reason why the customer will buy our product and when they will buy it. The types of goods in today’s market are: convenience goods, shopping goods and specialty goods.

Convenience Goods
Convenience goods are those that customer buy without putting a lot of thought into the decision to buy them. This is mainly because the customer already has all the information they need on the product before they go out to buy it. The customer is not really looking to go out and get more information on the product and will opt to taking a substitute of the product as opposed to having to visit more than one store looking for that product. Continue reading

Five Fundamentals Marketing Activities

There are five fundamental marketing activities and these are : Consumer analysis, Product Planning, Price planning, Distribution Planning and Promotion Planning.

We will not take a more in-depth look into each of these activities.

Consumer Analysis. Consumer analysis simply refers to the evaluation and examination of the consumer purchase processes, needs and characteristics. Remember that the product you are developing is targeted toward a certain demographic. You develop the product with a target market in mind; a target market that you want to purchase the product. Continue reading

Four Key Elements of Marketing Mix

The marketing mix simply refers to the planned mix of the controllable elements of a product’s marketing plan. These elements are usually referred to as the 4Ps and they are Product, Price, Place, and Promotion.

Adjustments are usually made to each of these four elements until a perfect blend that adequately caters to the needs of the customers and at the same time generates optimum revenue is obtained. Continue reading

Financial Management for Marketing Managers

The capital equity is investing money in contrast to the debt capital. This is not being repaid to investors like the normal flow in businesses. In purchasing a company’s share of stock, there is a risk capital that is at stake.

The computation of the value of the capital equity is through estimating the current market value of what the company owns which then the total will be subtracted in all of the liabilities that the company has.

When viewed on a balance sheet the equity capital can be found as stock holders or owners equity. This is also called as share capital or equity financing.

In every business making, the right strategy is necessary in order to prosper. Measurements are important especially in dealing with the flow of the market. This provides companies an idea on how they will handle things around to be more competitive to other businesses. Continue reading

Marketing Strategy of Online Banking

The advent of internet technology has opened a lot of opportunities in many sectors and industries in the world. Banking industry can explore techniques and strategies that they can use on the cyberspace that will support and enhance the bank’s generally marketing objectives. It helps the bank to improve awareness to their target audience.

Internet banking is considered as a competitive field. This gives a lot of clients to transact without the need to go to the bank personally. Online banking is now becoming as one of the newest options of busy people who don’t have the time. Marketing strategy of online banking is also very significant.

One aspect of marketing strategy of online banking is security. This is very essential for any client. In order to give the client peace of mind, security is an essential marketing strategy that the bank should focus. Be sure that customers will have a place for their personal data and information to be stored. Clients will never put their money in a place where in their information can be hacked. Continue reading

Marketing Strategy of Bank of America

Marketing strategy of Bank of America is considered as one of the most effective in the world of banking. They have opened their door to social network. This is a site applicable for small business proprietors to become an affiliate of Small Business Online Community, wherein they can share their remarkable stories and become more interactive. This marketing strategy of Bank of America has attracted a lot of clients and customers.

This is an online community like LinkedIn, wherein the business information like annual revenue, website and location, as well as other information is being shared online. As you know, one of the main objectives of this website is to permit Bank of America to become a great resource intended for small businesses. These profiles can be shared, and information will be increased, as well.

This marketing strategy of Bank of America started in 2005. They have analyzed and concluded that the web site will give them the opportunity to reach a wider audience. The internet is one of the most powerful tools to make people aware, so they make sure that through this website people will able to become closer to them. Continue reading

Comprehensive Marketing Strategy Report : Case of NIKE

It is the world’s leading brand engaged in providing world class athletic footwear, equipment, accessories and apparels. Nike sells its products under its own brand, and also Nike Golf, Nike Pro, Nike+, Air Jordan, Nike Skateboarding, and several of its subsidiaries, including the Cole Haan, Hurley International, Umbro and the Converse.

Nike sells collection of products, as well as shoes and apparel for sports activities like association football, basketball, running, combat sports, tennis, American football, athletics, golf, and cross training for men and women, besides children.

Nike takes the lead in selling the shoes for outdoor activities such as tennis, golf, skateboarding, association football, baseball, American football, cycling, volleyball, wrestling, cheerleading, aquatic activities, auto racing, and many of athletic and recreational uses. Continue reading

Marketing Strategy of Nike

The marketing strategy of Nike rested completely upon a product image which is favorable and allowed it to develop into one of the best multinational companies after a while.

Nike’s favorable product icon has been kept optimistic because of the strong relation with the company logo that is quite distinct and unique as well as the product slogan that has been utilized in commercials for a long period of time. The marketing strategy of Nike invests a lot in commercials and product promotion. Continue reading

Marketing Strategy of Starbucks

By means of understanding the marketing strategy of Starbucks, you will be capable to use the code of success which worked effectively for the company in an extensive way. The history of the company and its development gave Starbucks the respect of being a role model for other companies to follow.

From one outlet in Seattle of more than three decades ago to its still increasing empire these days with thousands of branches in United States alone not including outlets in other countries, Starbucks Coffee Company is certainly a popular success story throughout the world.

The fact that it begun as a small company that was capable to multiply continuously over the past few years can be a great motivation for small companies in the world. A lot of business schools have learned the marketing strategy of Starbucks and company itself and have strived to detail why such strategy have worked strongly for this business. Continue reading

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