Decomposing Market Share
Did you know that market share is made up of three underlying components? The factors are share of customer, penetration share and usage index. Find out more!
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Market Shares: Overview and Formulas
Market share is a measure of how the brand/firm is performing relative to its competition.
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Modern Day Design of the BCG Matrix
It should be remembered that the economic conditions and key business goals have changed substantially since the BCG matrix was initially developed in the late 1960s. As a result, a slight redesign of the matrix is probably required to make it more usable and logical to today’s business world.Design of the X axis/relative market shareThe
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Internal Environment Factors
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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Overview of the marketing environment
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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The Role of Price in Marketing
In addition to driving profits, pricing has a key role in the marketing mix and overall positioning.
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The Marketing Process
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 in
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A simple definition of marketing
Here is a straightforward definition of marketing…Marketing is the delivery of customer value and satisfaction at a profitWhen 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 profit-driven firms.From
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Available versus unavailable consumers
Firms will often have the goal of increasing market share. Increased market share is primarily delivered through winning a greater proportion of the market’s business. In particular, one or more of the following situations must occur for a firm/brand to increase its market share:A greater proportion of consumers decide to purchase the brandThe brand wins
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Steps in marketing strategy development
There should be clear steps to follow when developing a marketing strategy.Guidance from the strategic planIf the strategy is being developed for large organization, then they should be a corporate strategy document – known as a strategic plan – that should be the starting point for the development of marketing strategy and subsequent documentation in
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