Market Prediction

What is generic strategy? Discuss the different types of generic strategies.

Answer: Generic strategy means one kind of competitive strategies that may take various firms within a given industry to cope their capabilities. Actually, it is a broad competitive strategy that a firm can take to gain competitive advantages. There are three types of generic strategy: Cost leadership. Differentiation Focus strategy 1. Cost leadership: Though cost Read More

What is strategic group? Discuss about the strategic group with the map.

Answer: A strategic group is the group of firms in an industry following the same or similar strategy along the strategic dimensions. An industry could have only one strategic group if all the firms followed essentially the same strategy. Strategic group forms by the following basis: Target market Product The strategic group in an industry Read More

Market Prediction

What is strategic business unit?

Answer: Strategic business unit is a business unit comprising one or more products having a common market base whose manager has complete responsibility for integrating all functions into a strategy again an identifiable competitor. Strategic business unit is an arrangement of an organization. It is an individual business unit. Every business is separate from business Read More

Market Prediction

Strategic marketing process.

Answer: Strategic Marketing is the way a firm effectively differentiates itself from it’s competitors by capitalising on its strengths (both current and potential) to provide consistently better value to customers than its competitors. In principle it’s that simple, but it means a lot more than getting creative with the marketing mix. Strategic Marketing Process: The Read More

What is marketing management? Discuss the scopes of marketing.

Answer: Marketing Management is the art and science of choosing target markets and getting keeping and growing customers through creating, delivering and communicating superior customer value..Marketing Management is the process allocating the resources of the organization toward marketing activities. Thus, a marketing manager is someone who is responsible for directing expenditures of marketing funds. Related Read More

Market segmentation. Bases of market segmentation.

What is market segmentation? Identify the bases of market segmentation. What are the requirements of effective segmentation? Explain the different levels of market segmentation. Answer: Market segmentation is the process of dividing the market into different parts on the basis of various features of market. The purpose of market segmentation is to provide maximum satisfaction Read More

Marketing environment.

How many types of marketing environment? Explain the influence of micro & macro environment on marketing. Marketing environment is the combination of some actors and forces that influence marketing activities. These elements affect marketing activities directly and indirectly. According to Philip kotler “A company’s marketing environment consists of the actors and forces outside of marketing Read More

Marketing management philosophy

Discuss about the marketing management philosophies. What are the differences between marketing and selling concept? What are the differences between Customer and Consumer? Answer: Marketing is the process of identifying needs and wants of target customers and delivering the product and service to customer for earning profit. There must have some logic behind every activity. Read More

Earn Money at Home

Scope of marketing.

Answer: Marketing is a dynamic business process. Due to change of time, the scope of marketing has been changed. Marketing scope are the related matters of marketing functions. There are ten scope of marketing. These are given below: 1. Goods: Goods is a set of tangible physical attributes assembled in an identification form to provide Read More

What is marketing mix? Discuss about the marketing mix.

Answer: Marketing mix is the decision which came out as the result of blending 4P’s to stimulate the demand of firm product and services. Marketing mix can be also defined as tactical, strategic and controllable marketing tools contain product, price, place and promotion use by the firm to generate response from target market. According to Read More