The market concentration marketing metric uses unit market shares to determine the extent of dominance by the large players in the marketplace. It is a key metric to measure the intensity of competition within a market.
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What is the internal environment in marketing?The internal environment in marketing refers to components INSIDE the firm that are unique to the firm. An analysis of the internal environment is critical in the development of marketing strategy to ensure to ensure that the firm’s strategy is based upon its situation, resources and goals.Firms that do
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The three components of the marketing environmentThe 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, andThe macro environmentThe internal environmentThe internal environment refers to the organization/the firm itself. Using the strategic
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Generation Edge, also known as Gen Z, is a demographic group that is currently coming of age and significantly impacting consumer culture. Born after the Millennials, they are the children of Gen Xers.
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Let’s evaluate the key differences between the evolving IMC definitions to understand how the perception and role of integrated marketing communications has progressed.Broader than just consumersThe audience is much broader than just consumers. While communicating to consumers obviously remains very important and probably the focus of communication for most firms – firms also need to
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The changing media environmentThe process of communicating in marketing is far more challenging in today’s environment due to the complexity of media choices and the interaction between consumers and the resultant effect on consumer shopping behavior. In the “old days”, a firm’s promotional mix was almost exclusively made up of its sales function and advertising
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What are the extra communication challenges faced in today’s media environment?As a quick list, today’s media and communication environment as the following impact on marketers, each of which will be discussed below.Less control of messageNeed more variety of communication toolsNeed to be more entertainingUse of social mediaComparison sites, forums and message boardsInfluence of independent bloggersMore
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Why the shift to corporate social responsibility (CSR)? And what are the key drivers that have pushed brands to be more socially responsible?
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This article explores the impact of corporate social responsibility and sustainability as an priority on marketing strategies.
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