MARKETING ESSENTIALS

Market segmentation is a marketing strategy that involves dividing a target market into smaller, more defined groups of consumers based on shared characteristics, behaviors, or needs. Each segment is then targeted with a specific marketing message and offering that meets the unique requirements of that group. Types of Market Segmentation: 1. Geographic Segmentation:– Divides the […]

The halo effect is a cognitive bias that describes the tendency to attribute positive qualities to a person or object based on our perception of their overall attractiveness. In other words, we tend to rate people or things that we find physically attractive more highly in other domains, such as intelligence, honesty, and trustworthiness. Explanation: […]

Definition: Digital marketing, also known as online marketing or electronic marketing, is a type of marketing that utilizes digital channels to reach and engage with customers. It encompasses various strategies and tactics, including: Key Channels: Target Audience: Digital marketing allows businesses to reach specific audiences based on their online behavior, demographics, and preferences. Benefits: Examples: […]

Impression is a subjective, immediate, and often transient feeling or idea arising from the senses. It is a vivid, emotional response to a stimulus or object. Key Characteristics: Examples: Cognitive Processes: Impressions are processed through various cognitive processes, including: Applications: Impressions have wide-ranging applications in various fields, including: FAQs

Market research is the process of gathering, analyzing, and interpreting data about a market, typically to guide business strategy. It involves identifying, collecting, and interpreting information about a target market, competitors, and industry trends. Types of Market Research: Objectives of Market Research: Methods of Market Research: Tools for Market Research: Benefits of Market Research: FAQs

Advertisement: Title: Discover the Power of [Product Name] in Transforming Your [Problem Area] Subheading: Experience the revolutionary [Product Benefit] that will revolutionize the way you [Specific Action]. Image: High-quality image showcasing the product and its benefits. Body Text: [Product Name] is an industry-leading [product category] designed to [solve problem]. Our proprietary technology and innovative design […]

The marketing mix, also known as the 4Ps, is a marketing strategy framework that encompasses the four elements of marketing communication: product, price, place (distribution), and promotion (communication). Elements of the Marketing Mix: 1. Product:– Refers to the tangible offering presented to the customer, including the product itself, its features, benefits, and brand.- Includes product […]

Gross domestic product (GDP) is a measure of a country’s total output of goods and services in a particular period of time. It is the sum of all spending, saving, investment, and government purchases within a country’s borders. Formula: GDP = C + I + G + NX where: Components of GDP: Importance of GDP: […]

Definition: Network marketing, also known as multi-level marketing (MLM), is a type of direct sales strategy that involves the recruitment and training of independent distributors to sell products or services. Participants are typically compensated based on their own sales and the sales of their recruits. Key Characteristics: Examples of Network Marketing Companies: Pros: Cons: Regulation: […]

Definition: Social networking is a type of electronic communication that facilitates the creation and maintenance of social networks among individuals, organizations, and communities. It involves the use of online platforms and services to connect with others, share information, and engage in various interactive activities. Key Features: Examples of Social Networking Sites: Purpose: Benefits: Challenges: FAQs