Basics of Brand

A brand is a symbol or a mark that helps the customers in instant recall and differentiates it thereby from the competitor products of same nature.The American Marketing Association (AMA) defines brand as follows: “A Brand name is a part consisting of a word, letter, groups of words or letters to identify a product or

Product Mix, Product Lines & Cannibalization

The combination of all the products offered by a firms is a Product Mix. In marketing the decisions related to product mix and product lines are very important. When we discuss product mix, we discuss all the products offered by a company. In simple words, any organization which is selling more than 1 product has

Industrial Products

The goods which are meant to be used in making other products or rendering services are Industrial Goods. So industrial goods are basically used as inputs. Some basic features of the industrial goods are as follows: The number of buyers of the industrial goods is less than the number of buyers of consumer goods. The

Convenience Goods, Shopping Goods and Specialty Goods

Convenience Goods The items which are bought frequently, immediately and with minimum shopping efforts are convenience goods. These include candy, ice-cream, cold drinks, cigarettes, magazines, medicines etc. the shops which keep the convenience goods are called convenience stores. Often convenience goods are non durable. Some common features: Generally non durable Purchased at convenient locations. Regular and continuous

Product versus Goods

Products and goods are used as synonyms in common parlance. However, a good is something that is tangible in contrast with the services which are intangible. Both goods are services are products. Anything, whether good or service offered in the market is a Product. Goods may be consumer goods or Industrial Goods. The consumer goods

Summary Notes 5

1. Factors affecting Buyer behaviorConsumer behavior is affected by many internal, personal factors, as well as interpersonal ones. Each individual brings unique needs, motives, perceptions, attitudes learning and self-concepts to buying decisions. 2. What is Market Segmentation? The market place is heterogeneous with differing wants and varying purchase power. The heterogeneous marketplace can be divided

Summary Notes 4

1. The 5 C’s of analysis of marketing Decision making are as follows: Customer needs – What needs do we seek to satisfy? Company skills – What special competencies do we possess to meet those needs? Competition – Who competes with us in meeting these needs? Collaborators – Who should we enlist to help us

Marketing Aptitude – Summary Notes 3

Two exams are coming very shortly: one is Union bank of India Marketing Officers exam (September 6) and another SBI management Executive Exam (September 13). Its not possible to frame enough quizzes which can help my readers. so I am here by writing some compendiums each with 10 points with absolutely objective info. They might

Understanding Product Positioning

The “Concept of Positioning “is very important in the Marketing Management. Positioning refers to the concept of placing a product in a certain position in the minds of the prospective buyers. The concept was introduced by Positioning Gurus named Al Ries and Jack Trout in their article in “Advertising Age”. Their work “Positioning: The Battle

Concept of Product

Generally market offering of any kind is called a product. In management, a product is anything that is offered in the market to satisfy a need or want. The products may be raw materials in industries, merchandise in retailing or services in service industry. The raw materials are called commodities often. Commodity is also something