In the Theories Category, we aim to provide reference notes on different theories of Marketing.
What is a Marketing Philosophy? Marketing philosophy is a fundamental strategy that directs a company’s actions toward customers and goals. It’s a mindset guiding how a company engages with customers and achieves its objectives. This approach emphasizes different factors, such as product quality, aggressive selling, customer needs understanding, or a comprehensive perspective considering all elements. … Read more
What is PESTLE Analysis? PESTLE analysis, also known as PEST analysis, is a vital tool in marketing. It helps organizations understand and monitor external factors influencing their operations. The acronym PESTLE represents Political, Economic, Social, Technological, Legal, and Environmental aspects. It offers a panoramic view of the business environment, aiding strategic decisions. By scrutinizing these … Read more
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
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
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
What is Market Segmentation? Market segmentation is the process of splitting a broader market into smaller, more manageable groups based on shared characteristics. These characteristics can include age, income, interests, needs, and behavior. This division helps businesses tailor their product development, marketing, and sales strategies to specific customer segments. By understanding these segments, companies can … Read more
Pros and Cons of PESTLE Analysis Pestle analysis offers various benefits to businesses, and while it offers various benefits – it also has some limitations. Let’s explore the 13 essential pros and cons of PESTLE analysis. Pros of PESTLE Analysis Below are the 7 key benefits of PESTLE analysis to businesses. Simplicity in Use PESTLE … Read more