Enhancing Competitiveness Through Quality and Marketing
Competitiveness and Quality
The quality of a product is the set of properties and characteristics that confer its ability to meet demand. Improving quality involves establishing a management system that includes the following points:
- Define desirable factors.
- Determine quality standards or specifications.
- Establish a monitoring system to verify that specifications are met.
- Identify and correct problems of poor quality.
The costs of quality improvement are less than the costs of poor quality. Investments
Read MoreMarketing Research and Strategic Decision-Making
Chapter 1: Marketing Research Fundamentals
Marketing research is the application of the scientific method in searching for the truth about marketing phenomena. The process includes:
- Idea and theory development
- Problem definition
- Information gathering
- Analyzing data
- Communicating the findings and their implications
Digital marketing is a term used to capture all the various electronic, communicative technologies through which marketing enterprises (suppliers, manufacturers, retailers, etc.) work together
Read MoreQuantitative Techniques: Surveys & Questionnaires
Quantitative Techniques
Survey Techniques
Techniques based upon the use of structured questionnaires given to a sample of a population. It is a method based on structured data collection. They can tackle several issues:
- Behavior
- Attitudes
- Awareness
- Motivation (reasons for purchase)
- Demographics (age, life stage, income level)
- Lifestyle (values important to them)
There are four main types of questionnaires that can be applied. All of them have the same purpose (gather structured data) but the methodology
Read MoreMarketing Metrics, Process, and Segmentation Strategies
Marketing Metrics and Formulas
- Growth Ratio (Deviations) = [(Sales Present Period / Sales Past Period) – 1] x 100
- Growth (Absolute Terms) = Sales Present Period x (1 + Growth Ratio)
- Present Value (Absolute Terms) = Sales Future Period / (1 + Growth Ratio)
- Market Share = (Sales of Your Company / Total Sales Market) x 100
- Growth in 3 Years = Sales Present Period x [(1 + Growth Ratio)^3]
- Profit (Absolute Terms) = Sales Present Period x Profit Percentage
Consumer and Volume Calculations
- A. Total Number of Consumers
Marketing Strategies: Planning, Cost, Social, and Growth
Marketing Planning
Marketing planning is the process of defining a company’s marketing goals and creating a detailed plan for achieving them. This typically involves conducting market research, analyzing customer behavior, identifying target markets, and determining the best methods for reaching those markets. The marketing plan typically includes strategies for product development, pricing, promotion, distribution, and customer service. A well-designed marketing plan can help a company achieve
Read MoreUnderstanding Social Minimum, Cultural Frameworks & Economic Freedom
Understanding Key Social Concepts
The social minimum is a defined set of basic conditions and resources necessary for individuals to lead a dignified and decent life in a society. It represents a minimum standard of living, ensuring that everyone has access to essential goods, services, and opportunities. This concept includes fundamental elements like adequate nutrition, shelter, healthcare, and education.
The social minimum is not a fixed set of goods and services but evolves with societal changes
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