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The Porter's Five Forces play a crucial role in developing the right strategies for any business to enter into an industry. It helps determine the competitiveness and thus helps analyze and evaluate the right parameters which can help grow the company's profitability in the long term. 1. New Entrants into an Industry : This factor …
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Marketing Myopia is a very important marketing term which was first expressed in an article by Theodore Levitt who was an economist and a professor. Marketing myopia strikes when a company focuses more on sales than marketing and shies away from knowing more about the customer needs. This is a really dangerous spot to be …
The American Marketing Association (AMA) defines marketing as, “Marketing is an activity, a set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and the society at large.” The scope of marketing is huge and encompasses a variety of elements and strategies which an organization utilizes …
The basic objective of marketing lies in the satisfaction of human wants at a reasonable profit to the company. Marketing has three major objectives : 1. Objective of customer satisfaction : This involves pointing the needs of customers who can be present or potential. Creating time, place and possession utilities in the form of goods …
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Storytelling describes the social and cultural activity of sharing stories, sometimes with improvisation, theatrics and embellishment. Storytelling is embedded with every form and type of culture. It’s a medium through which we are now able to research and gather knowledge about our past since most of the historical perspectives about a certain event or happening …
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