Apr 162017
 

The introduction phase starts with innovators Marketers of new products seeking to gain traction for their offering are reliant upon a category of consumers that are classified as “innovators”. Innovators are consumers that are far less influenced by word-of-mouth for a particular product category. Typically innovators have a high level Read full article…

Apr 162017
 
Overview of the Product Life Cycle (PLC)

Product life cycle = stages of “life” The product life cycle (PLC) is a very common concept across all marketing textbooks. From the words “life cycle”, you should see the connection between a product and a biological life. Just as plants and animals progress through a life cycle, so does Read full article…

Apr 162017
 

Following the period of growth, a market will reach the maturity stage of its product life cycle. This means that there is limited growth – usually in line with the economy – left in the market. Sales have maximized and are unlikely, generally, to change significantly in the foreseeable future. Read full article…

Jan 112017
 

Key challenges of conducting international marketing research So what are the main challenges of conducting marketing research in international markets? In terms of market research tools and techniques, the approaches are generally similar, with the same intention of gathering and analyzing information for input into key marketing decisions. However, there Read full article…

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…