In order to enter foreign markets, companies must first go by major international marketing decisions stages to make sure they are making a good choice (Kotler, 2014, pg. 554). The first phase is looking at the global marketing environment followed by deciding to go global, which market to enter, how to enter the market, the […]Read more "Entering Foreign Markets"
Retailing is when a company sells right to the final consumer while wholesaling is when a company sells to other companies for business use or resale (Kotler, 2014). It depends on what the company is trying to pursue, but both of these methods are found to be very useful when trying to sell a product. […]Read more "Retailing & Wholesaling"
Wishing that the product will sell for eternity, the product life cycle (PLC) determines how long the product will sell for by five stages: product development, introduction, growth, maturity, and decline (Kotler, 2014, pg. 273-274). These stages also make up the product line on the graph below to show how the sales and profits will […]Read more "Product Life Cycle"
Advertising has been used for centuries to help promote either a product, person, or service. However, there is a process that companies need to go through before making an advertisement happen. The process of advertising includes: setting advertising objectives, analyzing budget decisions, developing the advertising strategy, and observing the advertising evaluation (Kotler, 2014, pg. 435). […]Read more "Advertising & Public Relations"
A brand name is the most important part of obtaining consumer preference. According to Philip Kotler in Principles of Marketing, a study on page 233 shown that a taste test occurred between Coca-Cola and Pepsi. The testers equally chose between the two, but once the logos on the cans were presented, they preferred Coca-Cola more. […]Read more "Brands & Branding"
Sustainable marketing looks at the social and environmental factors that meet both the customers and company’s needs. This process uses three concepts that look at each specific factor which consist of marketing, strategic planning, and societal marketing. These steps are used to understand what the company can do to satisfy their customers and themselves either […]Read more "Sustainability & Marketing"
The consumer buyer decision process helps a company understand how consumers react to their product based off of certain behaviors and what affects them or not. This process is made up into five stages: Need recognition observes what the customers problem, need, or want is. Once they pinpoint the need, it will either trigger an […]Read more "Consumer Buyer Decision Process"