Posts Tagged

marketing

Business Strategy: Strategy Formulation

In the strategy formulation process, an organization’s directors generate a general plan of what an organization should and should not do, given its market forces and its internal resources, in order to best meet its goals. Porter’s Generic Strategies: A firm should consistently choose one of Porter’s generic strategies. The first dimension is whether you…

Read More

Writing a Business Plan

Now that we covered the basics of marketing, I think you are well-equipped to apply your knowledge of marketing concepts in writing a business plan. I acknowledge that a sophisticated business plan would require some understanding of marketing, strategy, and finance. I haven’t yet written about strategy and finance, but I will include pieces of my…

Read More

An Introduction to Marketing: Price

Welcome to my fourth post on marketing. If you have not read the first three posts, I encourage you to read the introduction post and the articles on products, people, promotion, and place before reading this article. The fifth P being “Price” is extremely important in all aspects of business. From the buyer’s perspective, price determines if the product…

Read More

An Introduction to Marketing: Place

Welcome to my fourth post on marketing. If you have not read the first three posts, I encourage you to read the introduction post and the articles on products, people, and promotion before reading this article. Now, let’s get started with “place”. Offering your product at the right place means designing the right shopping experience for customers,…

Read More

An Introduction to Marketing: Promotion

Welcome to my third post on marketing. If you have not read the first two posts, I encourage you to read the introduction post and the articles on products and people before reading this article. Now, let’s get started with promotion. Promotion refers to the process through which potential customers learn about a product/service. Its purpose is to…

Read More

An Introduction to Marketing: People

Welcome to my third post on marketing. If you have not read the first two posts, I encourage you to read the introduction post and the post on products before reading this article. People are key to marketing because they are the decision makers who purchase products, and they do not purchase products in similar amounts. Different people…

Read More

An Introduction to Marketing

Welcome to my blog, everyone, As I reflect on my first year MBA, I will summarize on my entire first year of MBA into my blog. Let me start with marketing because I frankly think that everyone, and not just businessmen, should know about marketing principles. Whether you work in product design, sales, or in business…

Read More