Marketing & Sales

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. Related: STP process in Marketing What is Market Segmentation? Market segmentation is […]

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. The positioning process Positioning is the act of designing the company’s offering and image so that they occupy a meaningful and distinct competitive […]

In economics, the Bottom of the Pyramid (BOP) refers to the poorest group of people in the world, which is also the largest as it comprises of about two-thirds of the global population. These people are often not targeted by the mainstream businesses, which means they don’t get access to products and services that others […]