Category Archives: Marketing

The first step to marketing is determining how products and services create value for customers. Value can vary between customers. Value Value is the total savings, monetary gains, or satisfaction that a customer receives from using a product or service. … Continue reading →

All firms set prices for their products. Poor pricing is easy. But, pricing well is very difficult. Proper determination of product pricing requires knowledge, preparation, and insight. Good pricing separates top executives from the pack. The four P’s of marketing … Continue reading →

The demand for a product varies depending on the price charged.  For some products, demand changes only slightly with a large increase in price.  For other products, demand changes significantly with only a small increase in price.  The Price Elasticity … Continue reading →

After a firm develops a strategy, it has to implement it. This usually involves a difficult process of organizational transformation. Strategy is the notion of the general direction that a firm intends to take using its current, or needed, resources. … Continue reading →

There are 800 categories of Private Labels. These categories include medications, vitamins, pet foods, apparel, and grocery items among others. Private label products are a large part of many stores’ products: 55% at Sears. 20% at Kohls. Private label products … Continue reading →

Brand is a name. Brand is a shape. Brand is a design. Brand is a logo. Brand is a color. — All of these aspects of a brand are trademarked and are fiercely protected. Think of the generic attributes of … Continue reading →

A global brand should have a global marketing strategy and set of standards for the brand. But, not all details of implementation should be dictated centrally. There needs to be some local flexibility in the marketing, advertising, and perhaps product … Continue reading →

Brands are created to serve customers; customers are not there to serve brands. Brands should do try to change themselves to fit customers’ needs and wants. A brand strategy should not be created and then segments found to fit the … Continue reading →

Distribution Channels Distribution channels are managed by mapping, searching, and finding ways to match a set of offers to a set of consumers. Once a firm has developed a strategy, it must figure out how to determine who the target … Continue reading →

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