Marketing environment is one of the important terms of marketing management. It is external to marketing management and is uncontrollable and ever changing. It consists of
Definition of quantum dots: If all the three dimensions of a material are reduced to nano range, then the nanomaterial or the structure is called the quantum dot.
Preparation of quantum dots: Continue reading “Quantum Dots in nanotechnology”
Definition of quantum wire: If the two dimension of the material are reduced to nano range while the third dimension remains large, then the material or structure is called quantum wire. Quantum well is also called nanolayers.
Preparation of quantum wire: Continue reading “Quantum wire in nanotechnology”
Definition of quantum well: If one dimension of the material is reduced to nano range while the other two dimensions remain large, then the material or structure is called quantum well. Quantum well is also called nanolayers. Continue reading “Quantum well in nanotechnology”
The concept of marketing mix is coined by James Culliton. Marketing mix consists of set of tools which the firm uses to pursue its marketing objectives. E. I. McCarthy classified four p’s of marketing. Continue reading “Marketing Mix in Marketing Management”
Modern or new concept of marketing is a broader concept. It does not mean to provide consumer goods and services what the seller manufactures but it consists the process of discovering the consumer and converting their wants into appropriate goods and services. So the first step for the manufacturer is to find out what are the needs of the consumer? And how these needs can be satisfied? Only then he can make profit. There are six concept of marketing which the companies keep in mind. Continue reading “Modern or new concept of marketing”
Electron confinement or quantum confinement is another process that occurs in nanoparticles. We know that when atoms are isolated, then their energy levels are discrete but when they are in packed form and in large numbers (in solid form), the energy levels split and form bands (band means group of levels). Nanoparticles represents intermediate stage. Continue reading “Electron Confinement in nanoparticles”
Surface area to volume ratio in nanoparticles have a significant effect on the nanoparticles properties. Firstly, nanoparticles have a relative larger surface area when compared to the same volume of the material. For example, let us consider a sphere of radius r: Continue reading “Surface area to volume ratio in nanoparticles”
Market segmentation, market gridding and market positioning are very important terms of marketing management. Let us discuss them one by one:
Marketing segmentation means dividing the total market into smaller units with more or less similar features. It is the method to group together the buyers, who have common needs in order to give them more satisfaction. For example, Hot wheels concentrate on children segment, Lakme company concentrate on women segment. According to Philip Kotler “Market Segmentation is the process of dividing a market into distinct sub groups of consumer with distinct needs, characteristics or behavior.” So all the markets are made up of segments and these segments are made up of sub- segments. So it is the responsibility of the marketing manager how to segment the market either to concentrate on women segment, men segment or children segment to get the maximum profit.
Market Gridding means splitting the market based on the usage of the product. Like ice box is needed by an ice cream vender, refrigerator is needed by a housewife, water cooler is needed by owner of a factory. So the marketer split the market on the bases of the use of the product which is called market gridding.
Market Positioning is the way how the product is defined by the consumer based on it’s important attributes. It is the place which a product occupies in the minds of the consumer. like:
Maggi — two minute noodles
Horlicks — a health drink
Rin —as powerful detergent
Nokia- connecting people
So it is the responsibility of the company to use unique selling proposition for each brand and stick to it. A company can position it’s product on the basis of it’s features, on the basis of it’s price, on the basis of it’s benefits, on the basis of it’s quality etc.
Note to the readers: This is for your kind information that I have cleared the UGC JRF exam. If you want any guidance regarding this, please post in the comment section.
Consumer behavior in marketing is an important concept and sometimes it is very difficult to understand consumer behavior. Consumers spend their valuable resources time, money etc. to buy the goods. Continue reading “Consumer behavior in marketing”