Marketing Mix Analysis for Entry of a Microwave Maker
February 12, 2025
Selling and Marketing is no longer the same what it used to be few decades ago. Traditional methods of sales and promotions have long been relegated to history. Technology, Internet as well as globalization have redefined every aspect of Marketing and Sales. Organizations have realised the importance of being in tune with the markets and […]
When it comes to pricing policy, marketers tend to play with consumer psychology. Marketers play a huge role in repackaging the same price and making it look attractive. For instance, marketers are well aware of the fact that there are certain buzzwords such as “free,” “buy one get one” and “limited period offer” which get […]
One of the first things that any observer of management thought and practice asks is whether a particular organization has a vision and mission statement. In addition, one of the first things that one learns in a business school is the importance of vision and mission statements. This article is intended to elucidate on the […]
Network marketing or Multi Level Marketing has caught on the fancy of people across the globe and as on date there are thousands who have made their millions through being a part of Network marketing. The success stories of such millionaires from US, Australia and UK etc are being published as a part of the […]
The art of meeting the sales targets effectively through meticulous planning and budgeting refers to sales management. Sales Management helps to extract the best out of employees and achieve the sales goals of the organization in the most effective ways. Let us go through some sales management strategies: Identify goals and objectives of the sales […]
A set-up where two or more parties (also called buyers and sellers) are engaged in transaction of goods and services in exchange of money is called a market.
At the market place the sellers sell their goods to the consumers (buyers) in exchange of money.
Let us go through the following examples:
Nokia offers wide range of handsets for both males as well as females.
The handset for females would be sleeker and more colourful as compared to sturdy handsets for males. Males generally do not prefer stylish handsets.
The organizations can’t have similar products for all individuals.
Perfumes and deodorants for females have a sweet fragrance whereas perfumes for males have a strong fragrance.
A marketer can’t have similar strategies for all consumers.
The process of creating small segments comprising of like minded individuals within a broad market refers to market segmentation. Market segmentation helps in the division of market into small segments including individuals who show inclination towards identical brands and have similar interests, attitudes and perception.
Not all individuals have similar needs. A male and a female would have varied interests and liking towards different products. A kid would not require something which an adult needs. A school kid would have a different requirement than an office goer. Market Segmentation helps the marketers to bring together individuals with similar choices and interests on a common platform.
An individual with low income would obviously prefer a Nano or Alto instead of Mercedes or BMW.
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