Marketing is the business function responsible for identifying customer needs and promoting products or services to satisfy those needs profitably. It involves market research, product development, pricing, promotion, and distribution. Effective marketing helps a business attract and retain customers, build brand awareness, and increase sales and market share.
Mass Marketing in a Nutshell Mass marketing means selling the same standardised product to the whole market, ignoring differences between customer groups and using one marketing mix for everyone. Profit comes from…
Market Positioning in a Nutshell Market positioning is how a business wants customers to see its product compared with competitors. It is a deliberate, long-term choice about where to sit in the…
Psychographic Segmentation in a Nutshell Psychographic segmentation groups customers by how they think and live: their personality, attitudes, values, interests and lifestyle. It explains why a customer buys, not just who buys,…
Behavioural Segmentation in a Nutshell Behavioural segmentation divides a market into groups based on customer actions, such as purchase frequency, brand loyalty, usage rate, timing of purchase and the benefits sought. It…
Geographic Segmentation in a Nutshell Geographic segmentation divides a market into groups of customers based on where they are located, such as country, region, climate or type of area. It lets a…
Demographic Segmentation in a Nutshell Demographic segmentation divides a market into groups based on measurable population characteristics such as age, gender, income, family size and occupation. The data is cheap and easy…
Target Market in a Nutshell A target market is the specific group of customers a business aims to sell to, chosen because they are most likely to buy. The business shapes its…
Market Segmentation in a Nutshell Market segmentation means dividing a whole market into smaller groups of customers who share similar needs, wants or characteristics, so that a business can design products and…
Market Research in a Nutshell Market research is the process of collecting and analysing information about customers, competitors and the market in order to reduce risk before a business makes a decision.…
Qualitative Market Research in a Nutshell Qualitative market research collects information about opinions, feelings and motivations, usually in words, images or observed behaviour. It answers “why” rather than “how many”, using methods…
Sampling in a Nutshell Sampling is the process of choosing a smaller group from a larger population and using it to make decisions about the whole market. Done well it is cheap,…
Quantitative Market Research in a Nutshell Quantitative market research is the collection of numerical data about a market, answering questions such as how many, how often and what percentage. It uses closed…
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