The Dynamic Environment Since the business environment is constantly changing and customer preferences keep evolving, marketers are required to adapt rapidly. LEARNING OBJECTIVES Contrast the ever-evolving characteristics of a micro and macro marketing environments and how they apply to the proactivity, profitability and viability of a company KEY TAKEAWAYS Key Points The micro-environment includes the company itself, its suppliers, marketing intermediaries, customer markets, and competitors. It also includes consumers, collaborators,… Read More »The Marketing Environment

Relationship Building with Various Stakeholders The key to building a strong stakeholder relationship is communicating effectively with all stakeholders. LEARNING OBJECTIVES Diagram the relationship of stakeholders, both internal and external, to a company including proper methods of communication KEY TAKEAWAYS Key Points Stakeholders are involved in and/or affected (negatively or positively) by the outcome and impact of an action, project or program. Internal stakeholders include stockholders, customers, suppliers, creditors, employees,… Read More »Relationship Building with Various Stakeholders

The Marketing Exchange The act of obtaining a desired object from someone by offering something of value in return is called the exchange process. LEARNING OBJECTIVES Examine the significant elements of the marketing exchange, when a  product or service is offered by a company to a customer in a sales transaction KEY TAKEAWAYS Key Points The exchange process allows the parties to assess the relative trade-offs they must make to… Read More »The Marketing Exchange

SIVA: Solution, Incentive/Information, Value, and Access Customer-focused marketing is known as SIVA which provides a demand-centric alternative to the four P’s supply side of marketing management. LEARNING OBJECTIVES Reconstruct the “Four Ps” supply side model (product, price, placement and promotion ) to create “SIVA” (solution, information/incentives, value and access), a customer centric alternative KEY TAKEAWAYS Key Points The product is no longer a one-size fits all offering, but rather a… Read More »SIVA: Solution, Incentive Information, Value, and Access

Product, Placement, Promotion, and Price Product, placement, promotion, and price are four elements of the marketing mix crucial to determining a brand’s unique selling proposition. LEARNING OBJECTIVES Show the characteristics of each of the four elements, or “Four Ps” that make up the “marketing mix. KEY TAKEAWAYS Key Points The term ” product ” is defined as anything, either tangible or intangible (such as a service ), offered by the… Read More »Product, placement, promotion, and price are four elements of the marketing mix

Customer Wants and Needs Consumer wants and needs should drive marketing decisions, and no strategy should be pursued until it passes the test of consumer research. LEARNING OBJECTIVES Identify how customers fulfill their wants and needs from a marketing perspective KEY TAKEAWAYS Key Points A need is a consumer ‘s desire for a product ‘s or service ‘s specific benefit, whether that be functional or emotional. A want is the desire for… Read More »Customer Wants and Needs & marketing decisions

The Role of Marketing within A Firm The official American Marketing Association definition published in July 2013 defines marketing as “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. ” While this definition can help us better comprehend the parameters of marketing, it does not provide a full picture. Definitions of marketing cannot flesh… Read More »The Role of Marketing within A Firm

Introduction to Marketing Defining Marketing Marketing is the creation, communication, and delivery of value, as well as the management of customer relationships for a lifetime. LEARNING OBJECTIVES Define marketing, its role within a firm, and the competitive advantages it offers. KEY TAKEAWAYS Key Points The set of engagements necessary for successful marketing management includes capturing marketing insights, connecting with customers, building strong brands, shaping market offerings, delivering and communicating value,… Read More »Introduction to Marketing

Looking to open up a new business? In need of an high-potential low-investment new business ideas? Whether you want a more flexible lifestyle, out of work, or looking to earn top dollar, be sure to scan through our 2019 business ideas list. Looking for a no-capital home business to make a little cash on the side? View our top 2019 home business ideas.  Our Focuses: Flexibility, Low Overheads, Moderate Budget, Easy Implementation “It’s how you deal… Read More »50 Business Ideas To Start in 2019

What is a business? An entity or an enterprise that is committed to providing goods or services in exchange for some form of payment. In its most basic form, to do “business” is to make a living through commerce. Types of Businesses  Service Business A business whose output/product is not an actual physical or tangible product is engaged in the service business. Banks, accounting firms, law firms (and other types… Read More »PROFITABLE SMALL BUSINESS IDEAS & OPPORTUNITIES