Discover the limitations of cost-plus pricing and its potential impact on your business. Learn about the key disadvantages, including a lack of consideration for competitive pricing, customer value, and profit maximization, among others
20 MCQ’s for the PLACE Mix 20 MCQ’s for the PRICE Mix Also see the Marketing Trivia Quiz
Is a marketing career easy? Sometimes students study marketing in a business course because it is perceived to be somewhat easier than more challenging and technical areas, such as economics, finance, and analytics. However, from the point of view of somebody has both practiced and lectured in the area of marketing, I would challenge this … Read more…
About the Customer Journey Map Template This free customer journey map template is designed to quickly and easily build relatively detailed maps for multiple brand personas. Customer journey maps are an effective way of identifying how potential customers make their way to your brand and ultimately become loyal advocates. Download the free template here… customer-journey-map-Excel-template … Read more…
Brief History of the Net Promoter Score (NPS) The NPS was developed by management consultant Fred Reichfeld (associated with consulting firm Bain and Co.) and presented in a Harvard Business Review article in 2003. Since that time the metric has become widely adopted across many industries and is estimated to be in use in around … Read more…
In addition to driving profits, pricing has a key role in the marketing mix and overall positioning.
What are the steps in the basic marketing process? As you probably know, the purpose of marketing activities is to create value for consumers and to deliver ongoing profitability (or other success metric) for the firm as a result. Marketing should be a win-win situation for both the firm (or organization) and its customers. Steps … Read more…
Here is a straightforward definition of marketing… Marketing is the delivery of customer value and satisfaction at a profit When you first start learning about marketing, you will notice that there are lots of different definitions. The above definition is a nice and simple one to start with – and it’s quite applicable for most … Read more…
There is a direct relationship between the firm/brand’s marketing strategy and its marketing mix design. A marketing mix should be the execution of the firm’s marketing strategy. In other words, marketing strategy is implemented through the combination and design of the marketing mix elements to meet the identified needs of a selected target market. Please … Read more…
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 market. So how does a … Read more…
