A company needs to understand its marketing environment to successfully operate in the market. That marketing strategy is guided by 5Cs, which leads the firm to go forward in fulfilling the needs of the customer. The basis of the context is the macro environment. Macro environment presents an uncontrolled environment for the company. In this environment, the company needs to [...]
Retail is defined as "Any business that directs its marketing efforts towards satisfying the final consumer based upon, the organisation of selling goods and services as a means of distribution." The word retail has been derived from the French word 're-tailler' which means 'to cut, trim or divide'. Thus retailing means, to sell goods in small quantities. Retailing not only [...]
Marketing research is defined as the objective and formal process of systematically obtaining, analyzing and interpreting data for actionable decision making in marketing. This definition lays stress on two aspects, namely, objectivity and systematic process in the collection and analysis of data. In fact, marketing research should not be allowed to be influenced by personal views and considerations. Before undertaking [...]