Feb 032016
 
Multi-Attribute Attitude Model: Excel Template

Measuring Consumer Attitudes A brand’s ability to measure consumer attitudes provides a very helpful insight into what is driving consumer behavior. Generally a consumer’s attitude towards the various brands in the marketplace has a significant influence over their purchase and word-of-mouth actions. Positive attitudes will lead to positive behavior. But Read full article…

Jun 122015
 

The three components of the marketing environment The most appropriate marketing strategy for an organization will depend upon the marketing environment in which it operates. There are three broad categories of the marketing environment, which are: The internal environment, The micro environment, and The macro environment The internal environment The Read full article…

Jun 052015
 

Any organization/brand is faced with an almost unlimited selection of choices and opportunities in the marketplace. For example, there are literally thousands of different ways that firms can choose to promote their activities. There are millions of different products available in the marketplace that firms can choose to produce and Read full article…

Jun 042015
 
Markets, exchange and target markets

When studying marketing it is important to understand the concept of a market and the exchange process. When we use the term “market” in a marketing sense, there are actually three possible views that we are considering – the overall market, any sub-markets and the brand’s target market/s. Overall market Read full article…

Jun 042015
 

The two dimensions of customer satisfaction The customer’s assessment of their satisfaction following a purchase and consumption of a product involves a comparison of two views: What were their EXPECTATIONS of value prior to purchase? What was their perception of the value delivered AFTER purchase? The consumer will engage in Read full article…

Jun 032015
 
What is a benefit?

Defining benefits in marketing terms In marketing, the word benefit refers to some advantage or positive outcome for the consumer. That is, the consumer is better off due to the purchase/consumption of the product. Products are designed to solve problems or meet needs of consumers. Therefore, an appropriate product design Read full article…

May 312015
 

What are the internal factors to consider when making price decisions? The selection of a price for a product depends upon both internal factors and external factors. Internal factors relate to factors inside the organization itself, whereas external factors consider competition and consumer behavior in the marketplace. Internal factors that Read full article…