by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing
What is the Law of 29?This law is based on the assumption that a marketer or a company must send promotional messages to a client 29 times if they want the customer to purchase their product.How does the Law of 29 Work?The law of 29 is often used by marketers to...
by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing
What is Competition-Driven Pricing?Competition-driven pricing refers to a pricing strategy in which the seller considers the price of competitors when setting prices for similar products or services. In this type of pricing, the focus is put on competition and not on...
by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing
What is the Media Effect?The media effect refers to how particular news and stories that the media transmits can influence people and society. The media can pass the information to people using different means such as film, radio, television, newspapers, magazines,...
by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing
What is Brand Extension?Brand extension is a strategy in which a new product is launched or market using an established brand or platform. When a new category of product is launched on an existing and reputable brand, it is brand extension. Brand extension is also...
by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing
What is Network Marketing?Network marketing is a form of marketing where the distributors of goods and services are independent agents. It is a business model that uses independent agents for sales, these agents often work from home and are required to build their...
by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing
What are the 7 Ps of Marketing?The four Ps are: Product Price Placement Promotion These are key factors or attributes to consider when marketing a company’s value proposition – generally a product. They are commonly known as the marketing mix.Other...
