Product life cycle
The life of a product is the period over which it appeals to customers. The sales performance of any product rises from nothing when...
Marketing strategy
A strategy is a long-term plan to achieve certain objectives. A marketing strategy is therefore a marketing plan designed to achieve marketing objectives. For...
Marketing mix (Price, Place, Promotion, Product)
When marketing their products firms need to create a successful mix of:
the right productsold at the right pricein the right placeusing the most suitable...
The marketing mix
The marketing mix is often referred to as the '4 Ps', i.e. product, price, place and promotion. To meet customers' needs a business must...
Opportunities and constraints in the business environment
Opportunities in the business environment are those factors that provide possibilities for a business to expand so as to make more sales and profits....