Pricing is an important part of a company’s marketing mix strategies. Pricing strategy helps to increase a company’s product or service sales in selected market. It also have direct impact on growing company’s market share. 5 Types of Product mix pricing strategies in marketing are Product Line, Optional Product, Captive Product, By-Product & Product Bundle Pricing
The marketing process is to analyze market opportunities, selecting target markets, developing marketing mix, and finally managing the marketing effort. As one can see that the targeted customers stand at the center of the marketing process.
Definition & meaning of strategic planning, it is a process where company goals and objectives are formulated and achieve them in organized way
Market research process refers to learn everything about a targeted market area for promoting a specific service or product. There are variety of resources and tools are available to help marketer in research and analyze the marketplace. Market leaders and other growing companies like Apple, Dell, and Toyota has their own Market Research development department (R&D).
Marketing is usually that area of a company which requires lots of attention. Company sales depend on marketing so company must use adequate solutions for the more effective promotion of their products. For this purpose companies rely on marketing information system. Marketing information system allows a company to use all relevant information for developing its marketing strategies more effectively.
Companies get resources from the environment and supplies goods and services to the environment. There are different environmental factors that affect a business ability to serve its customers. These marketing environmental factors provide opportunities or threats to a particular business. Every company or organization tries to grasp the available opportunities and face the threats that emerge from the environmental forces.
The Marketing environment includes all those factors or forces that influence a company's performance in its chosen target market. Marketing environment factors affects the business by the way of input (Sales & Profit) and the business also affect the environment by output (Products & Services). The relationship between the organization and the marketing environment is "inseparable" and in a state of “give and take”.
Global marketing environment can simply be defined as “All the factors and forces inside or outside an organization or company which affects the marketing strategy to build and maintain successful relationships with targeted customers”. The global marketing environment is changing very rapidly on the face of globe and competition among different companies increasing with every successive day.
Marketing Strategic Planning means to plan all the activities of a business to ensure competitive advantages and profitability. Marketing Strategic planning involves adapting the firm to take advantage of opportunities in its constantly changing marketing environment. Marketing Strategic planning engages a firm to take advantages from the available
Buying decision behavior various from place to place and person to person, either purchase of a detergent soup or hardy bikes. Buying decision behavior become more complex in the result of more buying participants and deliberation. There are different factors which affects buying decision behavior.