batheories

Marketing Planning is the process of analysing marketing situations, deciding marketing objectives, and implementing various marketing strategies to achieve those objectives. Here’s more on marketing planning and its process. What is Marketing Planning? The Marketing Planning process is a methodical approach to achieve specific marketing goals. It involves several steps such as conducting a situation […]

Consumer behaviour refers to the physiological process related to the emotions of the consumer. For Marketers, it is important to understand Consumer behaviour as it provides them with a better understanding of the buying pattern of consumers. Consumer behaviour is a key aspect of marketing and there is a considerable body of literature on the […]

A perceptual map (P-map) is a tool used to illustrate the consumer’s perceptions of a product/ brand. A perceptual map is a tool for determining the position of a brand in the marketplace, based on consumer perceptions of the brand and its competitors, using attributes that are important to consumers. The various attributes can be: […]

Marketing mix includes the “set of marketing tools that a firm uses to pursue its marketing objectives in the target segment”. Marketing Mix 4P’s: Product, Price, Place (distribution), Promotion – foundation model in marketing. This is the Shortened simplified version by Eugene McCarthy and now more commonly used (McCarthy, 1960). Marketing Mix 7P’s: Product, Price, […]

One of the best known classic marketing models, AIDA traces journey of a customer through Awareness, Interest, Desire and Action (Lamb, Hair and McDaniel, 2012). Stages of the AIDA model: Awareness: Focus on grabbing attention of consumers by using advertising materials. Interest: Once the company has the attention of the prospective customer, the prospects need […]

Best Marketing and Marketing Planning Books, Journals and Resources Best Marketing Books Here are the best books on marketing. Baines, P., Fill, C. and Rosengren, S., 2017. Marketing. Oxford University Press. Principles of Marketing (Philip Kotler, Gary Armstrong). Pearson Prentice Hall. Jobber D. Principles and Practice of Marketing. Eighth edition /. (Ellis-Chadwick F, ed.). McGraw-Hill […]

Personal Selling: Tool of the Communication Mix Personal selling concerns interpersonal communication and the role is largely one of representation. Personal selling is a highly potent form of communication simply because messages can be adapted to meet the requirements of both parties, who meet face-to-face, as the communication develops. Objections can be overcome, information provided […]

The key role of direct marketing is to reach target audiences with personalized and customized messages that aim to provoke a change in the audience’s behaviour. A secondary role of direct marketing is to collect customer information, in order to feed future strategies and campaigns. In order to reach audiences with call-to-action messages, direct marketing […]

STP (acronym for Segmentation, Targeting, Positioning) is a three-step framework in marketing that enables firms to develop specific, actionable, and effective marketing strategies . Using the STP approach, marketers first identify distinct customer segments based on similar needs and benefits. Once the various segments are identified, specific segment/s are selected based on their attractiveness based […]

Market segmentation refers to the division of a market into different groups of customers with distinctly similar needs and product/service requirements. The variables used for segmentation include geographic, demographic, behavioural and psychographics. Let’s understand more about Market segmentation using definitions, explanations, and examples. What is Market Segmentation? Market segmentation is the process by which organizations/marketers […]

Target marketing involves selecting the appropriate target market/s from the entire market and effectively marketing to them. It is a common practice in marketing to divide the market into various smaller homogeneous segments and then target the more lucrative ones which are likely to be receptive to the products in order to generate more sales. […]

In Marketing, Positioning is a concept that outlines how a business should market its products/services to customers. In positioning, the marketing team creates an image for the product, for its intended audience. Two fundamental elements: Physical attributes – the functionality and capability that a brand offers. Communication – the way in which a brand is […]