Articles: 1,677 · Readers: 768,000 · Views: 2,284,327 This article is about Income Elasticity of Demand (YED). Income Elasticity of Demand (YED) measures how a change in income affects quantity demanded.
Posts published in “Year: 2022”
This article is about Price Elasticity of Demand (PED). Price Elasticity of Demand (PED) measures how a change in price affects quantity demanded.
Regular evaluation of the marketing plan will help with reviewing marketing planning process. How to review marketing planning process?
Once the marketing strategies have been decided upon, it is time to put them into the real life through devising Marketing Mix tactics.
Product Position Map shows the consumer perception of a product or brand in comparison to its competitors in terms of Price and Quality.
The final part of the SEGMENT – TARGET – POSITION process is Product Positioning which shows the perception customers have about the product.
My experience dealing with jet lag. Here are my personal experiences of how I deal with jet lag when coming back to China from Europe.
Differentiated Marketing targeting strategy is trying to sell different products to different market segments. Another name is selective marketing.
Niche Marketing is the opposite to Mass Marketing. Niche Marketing targeting strategy includes exploiting one small market segment and be customer-focused.
Mass Marketing is the opposite to Niche Marketing. It is also knows as undifferentiated marketing or market aggregation.
1st do market segmentation, 2nd come up with targeting strategies. Targeting refers to each distinctive market segment having its own specific Marketing Mix.
Design Thinking is a concept that can help us to improve any product, process or experience. The process of solving problems by doing creating multiple outcomes.
This article is about psychographic market segmentation. Psychographic factors include lifestyle, hobbies and interests, values and attitudes, social status, culture and personality.
This article is about behavioral market segmentation. Behavioral factors include outlet type, occasions, usage loyalty and benefits sought.
Demographic market segmentation includes age, gender, race and ethnicity, marital status, family size, occupation, income, language and religion.
Geographic market segmentation divides the market into different geographical units. Geographic factors include location, climate and population density.
Between 2010 and 2016, I used to live in five different apartments. I am writing about my personal experiences from renting apartments in Beijing, China.
There is no one correct method to segment a market into smaller pieces. The key task is to find the variable that splits the market into actionable segments.
A consumer profile is a descriptive picture of a typical consumer of the firm’s products in a specific market segment. A picture of the typical consumer.
The whole market consists customers with different preferences. Market segmentation helps to discover people with similar characteristics.