Theories

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

Product Concept in Marketing – Definition, History, Features, Examples, and Pros/Cons

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product concept in marketing

Quick Summary The product concept is a marketing philosophy that prioritizes superior quality, performance, and innovation to attract customers. Emerging in the 1930s, it emphasizes continuous improvement and customer-centric quality but may overlook price sensitivity and broader preferences. Examples like Apple and Mercedes-Benz showcase its success in building brand loyalty. While effective, it requires balancing … 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

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

8 Pros and 5 Cons of Market Segmentation in Businesses

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pros and cons of market segmentation

Pros and Cons of Market Segmentation Market segmentation is a marketing strategy to divide a larger market into its smaller components i.e. consumer groups who share common characteristics. In this article, we will delve into the key pros and cons of market segmentation. Let’s get started. Pros of Market Segmentation There are several advantages that … Read more

7 Steps in Market Segmentation Process

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process of market segmentation

Process of Market Segmentation Market segmentation is a technique to create manageable and reachable consumer groups from the complex larger market. The following are the seven key steps in the market segmentation process. Let’s explore them in detail with simple examples. Identify Market Segments Identify Market Segments is the first step in market segmentation. It’s … Read more

15 Examples of Market Segmentation with Companies Name

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examples of market segmentation

Examples of Market Segmentation Market segmentation is the technique of dividing a complex market into its various segments based on some common shared attributes of each segment. It is a process that makes a complex market a manageable market. In this article, we will explore 15 examples of market segmentation – including companies’ names, how … Read more

Market Segmentation – Definition, Types, Features, Benefits, Steps, and Examples

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market segmentation

Quick Summary Market segmentation divides a broad market into smaller, more defined groups based on shared traits like demographics, geography, psychographics, and behavior. This strategy helps businesses tailor products, marketing, and sales to specific customer needs, improving efficiency and profitability. Key benefits include precise targeting, better customer satisfaction, and competitive advantage. Effective segmentation requires research, … Read more