KNOWLEDGE WORLD

 Strategic Planning in Marketing  The process of creating and preserving a strategic alignment between the organisation’s skills and goals and its ever-changing marketing possibilities is known as strategic planning. Strategic planning offers a systematic means of coping with uncertainty and adapting to change. It enables managers to consider how to grasp opportunities and avoid problems, to establish and coordinate appropriate courses of action and to set targets for achievement.  1. Strategy in Marketing  Marketing strategy is the process by which businesses and organisations understand their markets and the ways in which they approach convincing profitable customer action.   An organisation’s comprehensive plan for drawing in new clients and turning them into buyers of its products or services is called a marketing strategy. High-level elements of a marketing plan include the target customer demographics, value proposition and key messaging for ...

Difference between Marketing and Social Marketing             Traditional marketing and social marketing diverge in the nature of their marketing message from one another. All traditional business definitions are true for a Corporate Marketer. A social marketing strategy takes traditional marketing and expands it to incorporate the client’s social issues.               Compared to other corporate operations, marketing primarily deals with customers. The core of contemporary marketing theory and practice is providing customers with value and satisfaction. In order to benefit both individuals and society at large, social marketing is a technique that aims to establish behaviours that tend to change or maintain people’s actions.  1.Social Marketing Insights             The phrase “social media” refers to the channels and technologies available on the Internet and mobile devi...

 Difference between marketing and Selling            Marketing begins with clients and ends with clients. Creating superior value for customers and achieving high levels of customer satisfaction is at the heart of today’s marketing. It is a societal process that takes place in a dynamic environment.               The concept of sales is geared to converting existing concepts, such as products in cash instead of finding first and then satisfying customer needs. The definition of sales is often seen in practice when enterprises rely heavily on their promotional capabilities. It is based on approach “hard sell.” 1.Marketing vs. Selling  Difference between Marketing and Selling 2. Selling Significance           The sales department plays a crucial role in the business’ performance of every organisation. Sales’ specific and essential task is to bridge the gap between the needs ...

   Customer Value and Satisfaction         Customer value can be defined as the difference between the overall expected benefits of a product or service and the total expenses invested in order to achieve it. However, the term “customer satisfaction” describes the discrepancy between a customer’s expectations and the actual performance they received.  1. Marketing and Customer value         The concept of customer value is important for the marketers because the primary goal of marketing is to deliver and enhance the customer value. The difference between the values a customer derives from possessing and utilising a product and the product’s acquisition expenses is known as customer value. It may also be defined as the sum of tangible and intangible benefits vis-à-vis cost to the customer. In an organisation all departments must “think consumer” and work together to provide superior customer value and satisfaction...

                                Marketing Management Introduction                Marketing has existed for as long as civilisations. Although the term “marketing” is often associated with business, its roots can be found in the prehistoric era, when people communicated and conducted business through the use of tangible objects, signs and symbols. The conventional wisdom is the center of modern marketing. The marketing concept originated from the first signs that humans made to communicate with one another. Marketing existed before advertising became a formal discipline; this is due to the evolution of marketing.               Over all other business functions, marketing interacts primarily with customers. At the core of contemporary marketing theory and practice is generating value and satisfaction for consumers. A crucial com...

 Core Marketing Concepts             The tactic used by businesses to meet consumer wants, boost revenue, optimize profits and outperform rivals is known as the marketing concept.           The fundamental idea of marketing is a social and management process that allows people and organizations to create, offer and exchange valuable items with one another in order to achieve what they need and want. These are distinct product desires supported by the capacity and willingness to purchase them.         There are five core concepts in marketing.   1. Requirements, wants and needs   2. Market offers, including goods, services and encounters   3. Value, contentment and excellence   4. Relationships, trade and transactions   5. marketplaces.  1. Needs, Wants and Demands        Demands, wants and needs are all included in ...

  Cross-Cultural Communication          Cross-cultural communication is for interpersonal communication and interaction through cultures. In our age of globalization and internationalization, this has become a significant issue. The goal of successful cross-cultural communication is to transcend cultural gaps through ethnicity, religion, boundaries, community and behaviour. Typically, the term cross-cultural is used to describe the comparative analysis of cultures. Cross-cultural communication needs:  ●      Listening Skills: While much emphasis is often placed on becoming an effective speaker,              listening is an equally crucial skill that many business professionals tend to overlook.                        Attentive listening plays a vital role in cross-cultural communication, enabling individuals to      ...