Pricing Decision

I define price as the value placed on a good or service by customers at some point in time. It is a measure of what must be exchanged in order to obtain a particular good. Price goes by many names, e g rent, salary, wages, fees, fare, etc. Price is one of the most important […]

Branding

I can define Branding is the process of identifying a product with a name or image that communicates the qualities and benefits of a product to customers and prospects. A strong brand creates a personality for the product and differentiates a product from competitors. A Brand is a name, term, sign, symbol, design or a […]

Effective Market Segmentation

When a market is effectively segmented, less resources are put in place hence culminating into profitability to the firms.   For Market Segmentation to be effective, the following conditions are necessary. The market segment must be; Measurable The size and buying power of the segment should be measurable. This will enable the marketer to assess the […]

Evaluating Market Segment

Firms are developed for purposes of growth and profitability. Market segments are therefore established. Before establishing a market segment there are three main factors to consider in evaluating the same; Segment Size and Growth. Marketers will want to find out whether a potential segment has the right size and its growth characteristics. Large companies prefer […]

Market Segment Selection Pattern

Having evaluated different segments, a company can consider from several patterns of target market selection. Single Segment Concentration. By adopting this pattern, a firm concentrates on a single segment for exploitation for example Subaru car manufacturers concentrate on small car market. If a firm captures leadership in a given segment it can earn high return […]

Market Segmentation

Market segmentation is the subdivision of a market into small homogeneous sub-markets which an organization can successfully satisfy. I have  subdivided the market into four basis as follows; Demographic Basis This consists of dividing the market into groups on the basis of certain demographic variables. Age Consumers needs and wants change with age. A variety of […]

Marketing

Marketing has been defined in so many ways depending on the product or services being offered. Here are  two ways as to how I define marketing. It is a social and managerial process through which groups and individuals obtain what they need and want through exchanging goods of value with others. It is the performance […]