Marketing

In the Marketing Category, we aim to provide reference notes on different topics of Marketing.

What is a Product? Definition, Features, Types, Examples, Levels, and Importance

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product definition

Quick Summary A product is any item or service offered to fulfill customer needs, ranging from physical goods to intangible services. Key characteristics include utility, tangibility, cost, and lifecycle stages. Products exist at five levels—from core benefit to potential innovation—and are vital for customer satisfaction, competitive advantage, and profitability. Effective products require market research, innovation, … Read more

6 Marketing Management Philosophies with Examples

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marketing philosophy with examples

Quick Summary Marketing philosophy refers to the guiding principles that shape a company’s approach to customer engagement and business goals. Six key philosophies have evolved: production (mass availability), product (quality focus), selling (aggressive promotion), marketing (customer needs), societal (social responsibility), and holistic (integrated approach). The best philosophy depends on business objectives, with modern trends favoring … Read more

What is a Market? Definition, Characteristics, Types, & How It Works

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what is market

Quick Summary A market is a platform where buyers and sellers exchange goods, services, or information, either physically (stores, bazaars) or virtually (e-commerce). Key characteristics include buyer-seller interaction, commodity focus, and supply-demand dynamics. Markets vary by type—consumer, B2B, financial, auction, etc.—each serving different needs. They function through price mechanisms influenced by demand, availability, and competition, … Read more

PESTLE Analysis – Definition, Components, Examples, Pros/Cons, and FAQs

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pestle analysis

Quick Summary PESTLE analysis is a strategic tool that evaluates Political, Economic, Social, Technological, Legal, Environmental, and Global factors impacting businesses. It helps organizations anticipate risks, identify opportunities, and adapt to external changes. While offering comprehensive insights, challenges include data complexity and dynamic environments. Examples like Starbucks and Adidas demonstrate its application in real-world business … Read more

Fast Moving Consumer Goods (FMCG) – Features, Types, Importance, and Examples

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FMCGs

Quick Summary Fast-Moving Consumer Goods (FMCG) are affordable, everyday products like food, toiletries, and household items that sell quickly due to high demand and short shelf life. Key characteristics include low cost, frequent purchases, and easy availability. Major FMCG companies like P&G, Unilever, and Nestlé produce these essentials, driving economic growth and employment. FMCGs are … Read more

STP in Marketing – Definition, Steps, Examples, Strategy, and Pros/Cons

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stp marketing

Quick Summary STP marketing (Segmentation, Targeting, Positioning) is a strategic framework that helps businesses refine their marketing efforts. It involves dividing the market into segments (demographics, behavior, etc.), selecting target groups with high potential, and positioning products to stand out. Examples like Apple (quality) and McDonald’s (convenience) show its effectiveness. Benefits include personalized marketing and … Read more

Product Life Cycle (PLC) – Definition, Stages, Strategies, and 4 Examples

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product life cycle

Quick Summary The Product Life Cycle (PLC) outlines a product’s journey from introduction to decline through five stages: introduction, growth, maturity, saturation, and decline. Each stage requires tailored marketing strategies—heavy promotion in introduction, market expansion in growth, diversification in maturity, and cost-cutting in decline. Examples like Nokia phones and Kodak cameras illustrate how products evolve … Read more