Most beautiful places and cultures &Marketing business

The features of marketing information system are:a) Inter related components: Marketing information system is a set of inter-related components. They consist of people, equipment, and procedures. Computer hardware, software, and information communication technology is used to design and deliver it.b) Processing: Marketing information system collects, processes, analysis,...

The marketing intelligence system provides information about everyday happenings in the marketing environment. It is based on environmental scanning.The Sources of marketing intelligence are:a) Marketing Managers: They read books, newspapers, and trade publications. They talk with customers, suppliers distributors and personnel within the organization to gather information.b)...

This is the age of competition. Marketers must carefully identify and analyze their competitors. Competition can be in terms of brand, product-class, generic and geographic. Competition is a threat to the firm. A competitor is a firm in the market selling a product which is perceived as substitutable by buyers. Competitor analysis describes the competitors, evaluates the competitors,...

Research is systematic gathering of information. Marketing research is a systematic inquiry undertaken to help resolve a specific marketing problem. Its purpose is to guide marketing decisions by generating information. It provides alternatives for making the choice. It is a tool for identifying market opportunities to formulate market strategy and to minimize threats. It is...

There are six stages in the organization buying process:Need Recognition: The buying process starts when individuals recognize a problem or need. Need recognization can arise under a variety of situations, for example accountant needing a calculator, researcher needing a book.Product Specification: This stage involves development of product performance specifications to solve...

Organizational behavior refers to the to the buying behavior of organizations that buy products for business use, resell or to make other products.Organizations consist of business, industries, retailers, government, and non-government organizations.Business and industries buy products for business use or to produce other products.Resellers buy products to resell at a profit.Government...

The supplier driven Nepalese market generally practiced mass marketing approach with product variations in the past. The socio-economic changes and developments in transport and communication system have made Nepalese marketers conscious of market segmentation. The marketing strategies of global organizations like Coca Cola, Pepsi, Nepal Lever and Standard Chartered Bank have...

Consumers make decisions. Their buying decisions are influenced by economic, personal, psychological and socio-cultural factors.Economic factors that affect buying decisions. They consist of:a) Level of income: The ability to spend is determined by the level of disposable income. Choice of income-sensitive products is very much dependent on income level.b) Liquid Assets: Consumers...

Personal factors consist of:a) Age: Consumers buy different products according to age group. Their taste in food, clothes, and recreation is age-related. Young consumers like to experiment new products. Older consumers prefer brand loyalty.b) Gender: Male and female exhibit differences in buying behavior. Their needs also vary.c) Family size and family life cycle: Family size...

Business market consists of profit making organizations. They can be industries, business and retailers. They buy products for business use, reselling or making other products. Buying is dine by professional people. The product is backed by company's reputation, sales force and competitive price.The characteristics of business market are:I) Focus: The focus of the market is organizations....

Segmentation variables are used for dividing a total market into segments. Selecting appropriate variable is an important decision of marketing segmentation.Consumer market consists of individual and households. They are ultimate consumers. The reasons for buying products are personal use or household use. Most products in consumer market are branded. Marketing is targeted at...

Market segmentation should not be based on guesses and hunches. It should be a systematic process consisting of the following steps.1. Market Survey/ information Collection: Segmentation requires a thorough investigation of the total market characteristics. Marketing survey is conducted for this purpose. Information is collected on the following aspects:Customer needs and characteristicsBrand...

The requirements for effective market segmentation are as follows:a) Measurable: The size, needs, purchasing power, and characteristics of the customers in the segment should be measurable. Quantification should be possible.b) Divisible: The segments should be differentiable. There must be clear-cut basis for dividing customers into meaningful homogeneous groups. They should respond...

We know that, there are different sorts of market segmentation. Some of them are described as follows:1. Target Marketing:The total market is viewed as consisting of heterogeneous customer groups. They have various characteristics. The market is divided into major market segments. One or more of those segments are selected as target. Marketing mix is tailored to each segment....

A Market consists of customers. They have needs to satisfy, money to spend and willingness to buy products. No product can satisfy the needs of all the customers in the market. Customers vary in needs, characteristics, buying behaviour, purchasing power and preferences.Market can be divided in following manners:1. Consumer Markets: The reasons for buying products are own personal...

We know that, quality is perception of customers towards products either it is good or excellent. Product should be good in quality. Then it can attracts to the customer globally. So that, organization should produce quality products for establishment in the competitive world. It is necessary in a organization. And here is some requirements for total quality marketing:Total commitment...

Quality is perception of product excellence by customers to satisfy needs. Improving product quality has become a top priority for marketing. There is an intimate connection between total quality marketing and profitability. Total quality marketing leads to customer satisfaction. Customer satisfaction leads to profit achievement by the organization.The dimensions of quality can...

In Marketing, relationship management is very much essential. Because no tasks of marketing can be done without good relation with related sectors. Here are some strategies to build relationship in marketing:1. Quality Assurance: Marketers promise and deliver high quality products at fair prices to customers. This promotes long term loyalty and relationships. Consistence...

Relationship management involves customer development. So that, customer development and relationship management have close relation with each other. The customer development process consists of the following steps:- Prospects: People who have interest in the product and ability to pay for it; they are likely to buy the product.-First Time Customers: Prospects who buy a product...