• Marketing Strategy

    Marketing strategy: theory and definitions

    1.0 Strategy, Marketing Strategy & Firm Growth: It is usually claimed that superior performance among companies is a result of strategy they adopt. A strategy is a culmination of a set of actions which leads to the fulfillment of the company’s short term as well as long term objectives. The overarching goal of organizations is to achieve superior performance compared to its competitors. Competitive advantage…

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  • Customer Relationship Management

    Customer Relationship Management (CRM)

    Although the basis of CRM has been around since 1956 (e.g., the segmentation of discrete customer groups), it is only within the last 8 to 12 years that CRM has created a significant impact in the business world (Nairn, 2002). The management focuses on relationship marketing (specifically one-to-one marketing techniques) Gary Loveman 21 and market orientation (focused on collecting, analyzing and disseminating large quantities of…

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  • Relationship Marketing

    Challenges and Benefits in Implementing Relationship Marketing

    Challenges in Implementing Relationship Marketing: Although the concept of relationship marketing is quite easy to understand, the implementation part could prove difficult, due to many factors that need to be addressed during the implementation phase. Some of the critical issues in the implementation of relationship marketing are discussed below. The first issue is related to maintaining real-time contact with the customers i.e. is reducing the…

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  • Marketing Orientation

    Marketing Orientation

    What is Marketing? Marketing is the process associated with promoting for sale goods or services. It is considered a “social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others.” It is an integrated process through which companies create value for customers and build strong customer relationships in order to capture value…

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  • Corporate Social Responsibility

    Corporate Social Responsibility

    1. Definition and Meaning of Corporate Social Responsibility: Although the concept of CSR has been developing since the early 1970s, there is no single, commonly accepted definition of CSR. Some notable CSR definitions from the existing literature are presented in the following paragraphs. Corporate social responsibility is a concept whereby organizations consider the interests of society by taking responsibility for the impact of their activities…

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  • Advertising

    Advertising and it’s functions

    Advertising Advertising can become an established essential of a country’s economy. It contributes to a geographic system of distribution; to the volume sales, an inevitable corollary of mass production; and to the pricing of many products within the economic means of an average person. Just as communication is vital to good internal management, so is advertising to earning a profit. Running a business without advertising…

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  • Sales Forecasting

    Sales Forecasting

    Sales Forecasting Forecasting is essentially the art of anticipating what buyers likely do under a given set of conditions. The market research conducted by a firm plus the analyses of current sales experience and trends forms the basis for the construction of a sales forecast. The sales forecast is a commitment on the part of the sales department and each of its divisions of the…

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  • Marketing research

    What is Marketing Research?

    Marketing Research An industrial enterprise, if, develops products for direct market application without having any idea in advance of consumer acceptance of that product, faces risks (if the product is unaccepted). On the contrary, if another concern tends to learn consumer reaction to the product prior to manufacturing the same, it does not even dream of any risk. Market research, today, has come to be…

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  • Marketing

    Marketing and Marketing Management

    1.1 Introduction: Verily, Marketing has its origins in the truth that man’s needs are indispensable. Needs and wants to create a state of discomfort in persons and they tend to get objects (i.e., products) those satisfy these needs and wants. For example in summer, if ice is not freely available or when eatables tend to get distasted, people feel discomfort and they satisfy their needs…

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