exploratory research in marketing

Understanding Exploratory Research in Marketing Whenever we start something new, the first step is always the hardest. It is so new to you that you are always afraid you might miss out on something and fail. Imagine when you embark on a journey to find solutions, the first step is the hardest. Several questions run through your mind- What to ask? How to ask? Whom to ask? If it's so hard, how marketers take their first step in finding the answers to the complex market problems? Let's find out.

You as marketers must have at one point or other answered a question by saying, “I will conduct a market research and find out”. It’s so cliché yet the fundamental…

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Budgeting Methods in Marketing

Budgeting Methods in Marketing and Advertising Have you ever wondered how you will manage the huge funds required for your fantastic advertising campaign? Most of the Marketing Professionals are required to do Budgeting on a regular basis. Yet, most of the Marketing Students are not aware of it. Don't worry; this article will give you a glimpse of Budgeting Methods in Marketing!

In our marketing classes, we weren’t taught Budgeting in Great Detail. This forces us to think whether budgeting is an essential part of marketing or not! To your surprise, budgeting…

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marketing luxury products

Luxury Marketing and Luxury Marketing Strategies What is luxury marketing? What are the strategies of marketing luxury products? Stuck with an academic project that demands you to understand luxury marketing? Read on to understand all that is to know about luxury marketing with some interesting examples.

“Luxury brands don’t sell products, they sell dreams…” -CMO, Cadillac. You might have heard about luxury products. You might have even dreamt of owning them. But right now, you are…

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Accounting for Marketers

Introduction to Accounting for Marketers Most of the MBA students find their way towards marketing just because finance is not their cup of tea! Then why am I even talking about accounting for marketers? Why do you, as future marketers and CMOs, need even to know accounting? How does accounting relate to marketing? Read this article to understand why and to learn the basics of accounting for marketers!

There exists an inevitable relationship between marketing and accounting. Marketers have been using accounting for a very long time.Even one of the components of the marketing mix, pricing, is decided…

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BCG Matrix of ITC

BCG Matrix of ITC Ltd [Detailed] Ever wondered how firms make their Major Decisions? What new Products to launch? Whether to launch new Products at all? To go ahead with the existing Product Profiles? What brands to discontinue and when? These are some of the most critical questions for a firm, but who answers them? Let's find out how in this article for the brand which is loved by many- ITC Ltd.

Imagine a firm that deals in ten different businesses. These ten businesses have ten more divisions under them, and each division has 10 brands under them. The firm is dealing…

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7Ps of Marketing Mix

7Ps of Marketing Mix with Examples What is the most important thing required to present that mouthwatering, scrumptious plate of food in front of you? That plate of food that you want to return to, over and over again. Its that Classic Recipe that makes the food taste heavenly every time you order it. In this article lets put these chef’s cap on our beloved marketers and see what their recipe looks like.

Do you know what consumers have to say to when their needs are not met? “I won’t complain, I just won’t come back” [Brown & Williamson, Tobacco ad]. In this…

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promotion in marketing mix

Understanding Promotion in Marketing Mix What is Promotion in marketing mix? How to develop a promotion strategy? What are the elements of the promotion mix? Why is promotion of your product so important? Your mind might be wandering with all these questions if you are a marketing aspirant. Read on to learn everything in detail about one of the most powerful 4Ps of the marketing mix.

As an MBA student, you might know that the basic definition of promotion in marketing mix. That’s the first thing taught in 1st term Marketing Management.Although in my case, it…

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statistics in marketing

Return on Marketing Investment – How to Calculate it? Both brand giants and local niche players spend big bucks in establishing customer-connect. But how do they decide on what budget to allocate? Further, how do they measure marketing performance? Learn the concept of return on marketing investment, plus know about challenges in achieving desired ROI.

Do you know the amount of money businesses across the world are expected to spend annually in marketing, advertising and communications? Over 11% of the overall annual budget! In fact,…

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Must Have New-age Skills for Marketing Are you looking for jobs in marketing and analytics, and not sure how to learn the necessary skills for marketing? Read on to understand latest trends in marketing and analytics and tips to land yourself the dream marketing job.

Entering the job market is a difficult phase in our careers. But, right skills for marketing under the hood are like a compass to easily navigate the arduous journey. Today,…

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Difference Between Market Research and Market Analysis [Detailed] It is common (and generally pardonable) to not identify the difference between Market Research and Market Analysis. However, it will be inappropriate to consider them as the same. Let us comprehend the differences between the two.

I recently wrote an article on How to Become a Market Research Analyst. After that, I had a lot of people writing in, asking me about something which I thought…

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Understanding Place in Marketing Mix The role of place in 4Ps of marketing will help appreciate the importance of place in the availability of a product in the consumer’s market. Based on different properties of products, variations in the core distribution mix of place is observed. FMCG products tend to be consumed faster, and hence shorter distribution channels are managed. However, non-perishables typically result from long-winded supply chains.

You might have the perfect product that will satisfy your customers’ need and offer high value. But unless you don’t have a process to make the product available for purchase…

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Questionnaire Design Process: Create Surveys that get Filled A crucial step in research and data analysis includes collecting primary data from the target audience. Creating a set of questions that the respondents would be keen to fill constitutes the concept behind Questionnaire Design Process. Read on to find the Go-To checklist to roll-out a decent questionnaire.

Any research requires primary data collection for analysis, which is where the skill of designing a questionnaire for market research becomes handy. The Questionnaire Design Process which I will elaborately…

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