The 6 Major Objectives of Pricing In Marketing

pricing objectives

Pricing Objectives Simply defining, pricing is the means of determining an appropriate price (value) for the product. While fixing the product price, a marketer or company should plan what objectives he wants to realize from that pricing. The company should decide first its pricing objectives before setting up a price for the product. The pricing … Read more

An Ultimate Guide to Product Life Cycle (PLC) Strategies

product life cycle strategies

Product Life Cycle Strategies The product life cycle is the process that explains the life stages of the product from its introduction to dropping out from the market. The product life cycle stages are – introduction, growth, maturity, saturation, and decline, every stage is distinct and every stage also requires distinct marketing strategies. There are … Read more

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

product life cycle

What is Product Life Cycle (PLC)? The product life cycle (PLC) is the length of time of products that outlines the stages of a product from its development and introduction in the market to its removal from the market. It outlines the five main stages of the product – introduction, growth, maturity, saturation, and decline, … Read more

What is Product Positioning? Definition, Strategies, Process, and Benefits

product positioning

What is Product Positioning? Product positioning is the process and practice of creating a unique place for the product in the minds of consumers rather than competitors’ offerings. Effective positioning helps companies to build a distinct image and value in the target market. Product positioning is about how to target consumers to perceive your product … Read more

What is a Micro Environment? Definition and Its Components

micro environment

What is Micro Environment? Micro-environment refers to the factors that are close to the organization and affect its serving ways of customers. It is also called a task environment that can be influenced to some extent by the actions of the organization. The micro-environment consists of external environmental forces that are part of a company’s … Read more

Marketing Challenges In The 21st Century and Ways To Overcome It

Marketing Challenges In The 21st Century

Marketing Challenges In The 21st Century The evolution of marketing concepts in a way explains the dramatic change the marketing sector has seen in the last century. Now, the focus of marketing is on customers whereas in the past focus was on production and selling. The competition is intense between businesses and the focus is … Read more