SWOT Analysis for small business

In this article we discuss the benefits of SWOT Analysis and attempt to understand the model using a case study example. According to (Bensoussan & Fleisher 2008, p. 200) SWOT stands for a fit between a company’s internal resources and capabilities (that is, its strengths and weaknesses) and external possibilities (that is, opportunities and threats). In[…]

Consumer behaviour influencing our minds

What is Consumer Behaviour?

Consumer behaviour is the process that a consumer goes through when he or she is on a mission to purchase a product or service. A quick example would be if you were hungry and in need of food in order to satisfy your hunger. Through this process you will recall places in your memory frame[…]

What is Market Segmentation?

Market Segmentation is a process dividing a total market into groups, or segments consisting of people with relatively similar product needs. In dividing or segmenting markets, researchers typically look for common characteristics such as shared needs, common interests, similar lifestyles or even similar demographic profiles. 4 characteristics that build customer groups If you are selling[…]

Marketing Mix

What is the Marketing Mix?

In the late 1940’s a marketing professor, James Culliton of Harvard University developed a concept later known as the Marketing Mix. The Marketing Mix enables brands to more smoothly position a product or service into a market. Traditionally the marketing mix comprised of 4 main marketing objectives, Product, Place, Price and promotion.  In recent times Marketing[…]

Enjoy this blog? Please spread the word :)