In the Marketing Category, we aim to provide reference notes on different topics of Marketing.
What are the 4 Ps of Marketing Mix? The 4 Ps of Marketing Mix, developed by Jerome McCarthy in the 1960s, are the fundamental pillars of a marketing strategy. They consist of Product, Price, Place, and Promotion. These elements enable businesses to effectively reach their target markets and achieve sales goals. They’ve long served as … Read more
Definition of Marketing Mix The marketing mix is a powerful toolbox that businesses use to achieve their marketing goals. It’s a strategic approach combining different elements to create a strong brand and boost sales. Originally known as the four Ps – Product, Price, Placement, and Promotion – this approach has evolved into the 7 Ps, … Read more
Need Vs Want Need and want are the two interchangeably used terms in our life. We often say I need this, I want this for the same thing. Although they have similarities, do you know the differences between them? In this article, we will cover this. Needs and wants are important concepts in finance, economics, … Read more
Needs Wants and Demand in Marketing The needs wants and demands are the key components of core marketing concepts. These concepts guide marketers to offer products tailored to customers. Needs are the base, wants to add flavor, and demands drive action. Balancing these shapes successful marketing strategies, matching products to people’s desires and means. In … Read more
Definition of Consumer Need Consumer needs are the fundamental desires or gaps that drive individuals to seek products or services for fulfillment. These needs influence purchase decisions and align with factors like functionality, price, user experience, and personal preferences. Businesses that effectively identify and meet these needs build stronger customer relationships and achieve success. Consumer … Read more
Core Concepts of Marketing: Definition Core concepts of marketing refer to the very basic idea of how marketing works. It explains what marketing is made up of, what are its basic components, and how it works. The Marketing Thinker Dr. Philip Kotler puts forward this idea of marketing core concepts. He outlined the five core concepts … Read more