Why brand image matters for businesses? Brand image matters more than what most managers or entrepreneurs believe. Especially, in a hypercompetitive market environment, businesses cannot afford to keep it aside from the main picture. It is not just something you can leave to the marketing function and forget. Brand image is not limited to a … Read more
What is Psychographic Segmentation and what are psychographic segmentation variables? In this post, we will discuss psychographic segmentation and its relevance in terms of marketing as well as the five variables used for psychographic segmentation and how marketers use them to understand their customers and creating marketing campaigns. Psychographic segmentation is the type of market … Read more
Psychographic segmentation is the type of segmentation that is concerned with the psychological aspects of consumer behavior. It segments consumers based on psychological characteristics including personality, lifestyle, social status, activities, interests, opinions, and attitudes. While it may be a more complex process compared to demographic segmentation, businesses can find psychographic segmentation more useful in several … Read more
In this post, we will discuss geographic segmentation and its examples. We will also discuss the pros and cons of geographic segmentation and how marketers can use geographic data to improve customer experience. Companies need to develop effective marketing strategies that can help them target the right customer segment, drive higher engagement and help improve … Read more
In this post, we will highlight the importance of market segments for businesses in terms of marketing and sales, define market segments and its types, and how businesses can identify the relevant market segments to improve their marketing and achieve higher sales. Businesses need to understand their target audience and its needs and preferences to … Read more
In this post, we will discuss examples of demographics and how useful demographic data is for businesses and how they can use this data for brining improved products and services to the market. Demographics are statistical data related to a population’s socioeconomic condition. They represent the various characteristics of a population like age, sex, race, … Read more
In this article, we will define demographics, with examples and explain ways of collecting demographic data. We will highlight the importance of demographics in terms of business marketing, and decision making as well as their use in public sector for policy making. The term demographics is mainly used to imply the characteristics of a population … Read more
In this post, we will discuss the PDCA cycle or the Deming cycle which is an important strategic framework used for continuous improvement and a critical part of lean manufacturing. The PDCA cycle is a four-step iterative technique used for making improvements to products, people and business processes. In various regards it is like the … Read more
The role of marketing is not limited to promoting products and services to an external audience. Marketing has acquired a much bigger role in the success of organizations. HR has also acquired a similar role and rather than just talent acquisition and nurturing talent, its role has expanded to focus on several more internal factors … Read more
A marketing plan is a useful tool for marketers who want to make their brand or product successful in the market. Companies and marketers use a marketing plan to achieve their marketing objectives successfully. The main objectives of a marketing plan is to develop a roadmap to the achievement of market goals successfully. It includes … Read more