Marketing

What is Marketing Information System? Definition, Objective, Component, and Importance

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Marketing Information System

What is Marketing Information System (MKIS)? A marketing information system, shortly called MKIS, is a system of collecting, analyzing, storing, and disseminating market information to marketing managers for making marketing decisions. MKIS is a systematic tool that aids marketing organizations in making effective marketing decisions. It collects data from both internal and external environments of … Read more

The 7-Step Process of Marketing Research [Explained]

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Marketing Research Process

Marketing Research Process Marketing research is the process of collecting and analyzing data to explore more about the current trends in the market. Marketing research includes specific inquiries into specific marketing problems. Good marketing research can offer companies good information about the target market, competitors’ positions, and probable opportunities and threats enabling companies to be … Read more

What is Marketing Research? Definition, Features, Process, Areas, and Importance

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Marketing Research

What is Marketing Research? Marketing research is a process of collecting and analyzing market information to better understand the customers and aid in problem-solving. It is a systematic and scientific way of analyzing the market and gathering relevant information about the problem. The marketing research is objective in nature. It is the problem-focused approach. Companies … Read more

What is Marketing Environment? Definition, Features, Types, and Importance

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Marketing Environment

It is obvious that no business organization is isolated. They operate in the environment. The factors of this environment affect the functioning of the organization. Some factors are within the organization whereas others are outside it and they affect the marketing activities of the firm. Both outside and inside factors make up the marketing environment … Read more

18 Components of Marketing Environment [Explained]

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Components of marketing environment

What is Marketing Environment? The marketing environment can be defined as the combination of external and internal factors/components that have a direct and indirect influence on your company’s abilities to serve, build relationships with clients, and achieve desired marketing goals. Components of Marketing Environment Generally, types/components of the marketing environment are two – internal and … Read more

The 4 Cs of Marketing: Customer, Cost, Convenience, and Communication

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4 Cs of Marketing

I am sure you all have heard about the 4 Ps of marketing i.e. product, price, place, and promotion. Which are great pillars for achieving marketing goals. But, do you know about the 4 Cs of marketing, if you do not, you are going to… What are the 4 Cs of Marketing? The 4 Cs … Read more

The 3 Ps of Marketing Mix: People, Process, and Physical Evidence

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3 Ps of Marketing Mix

The 3 Ps of Marketing Mix The 3 Ps of the marketing mix is additional elements added to the original 4 Ps of the marketing mix. These 3 Ps include people, process, and physical evidence. While the previous 4 Ps apply to manufacturing businesses, these 3 Ps are relevant to service businesses. Due to the … Read more