Category Archives: Marketing Basics

marketing mix

What is Marketing Mix? 4P’s of Marketing Mix

Marketing mix theory, first coined by E. Jerome McCarthy in 1960s, is one of the basics of marketing to have a successful business. But before explaining the definition or the parts of the theory, let us look at this example of Coca Cola Coca Cola, being one of the most valued brands in the world,…

What is Marketing Myopia? Definition and Examples

Marketing Myopia, first expressed in an article by Theodore Levitt in Harvard Business Review, is a short-sighted and inward looking approach to marketing which focus on fulfillment of the needs of the company rather than focusing on marketing from consumers’ point of view. When a company focus more on sales than on marketing and knowing…

marketing concepts

Marketing management philosophies – Five marketing concepts

Marketing, according to Kotler, is “the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit”. Marketing concepts (or marketing management philosophies) are the philosophies used by the businesses to guide their marketing efforts. Basically, marketing concepts relate to the philosophy a business use to identify and…