August 2023 - Page 4 of 8 - Online Manipal

Online BBA from Manipal University Jaipur: Here is how our learners choose and aced it!

In a world where education knows no boundaries, the pursuit of knowledge has taken on new dimensions. Here are three remarkable individuals—Rohan Kaywal, Vishal Purty, and Khatija Iqbal—whose stories stand as a testament to the life-altering potential of education and how its only made easier and more affordable with online education. Through Online Manipal University of Jaipur’s innovative online BBA program, they have embarked on journeys of growth, ambition, and transformation. Let’s delve into their words and experiences that showcase the remarkable advantages of studying with MUJ.

Curating a career in marketing

With an ambition to make a career in marketing and know in depth about the subject, Rohan Kaywal enrolled in MUJ’s online BBA. Elaborating on the same he says, “I wanted to specialize in marketing, which is why I decided to start by pursuing an online BBA. As a working professional, an online degree was the best choice for me. The faculty at MUJ are experienced & guide us well, and the student portal is user-friendly.”

Upskilling to stay updated

“Working as a business associate in a bank and with 10 years of work experience, I want to improve my skills in marketing and sales. An online BBA degree was the best choice considering the flexible learning opportunities that Online Manipal offers. The curriculum of the online BBA program is very good and the mentorship we receive from course coordinators is excellent.”

Realising dreams

Realising dreams and aiding in fulfilling the same has now become an integral part of MUJ’s online degrees. Proving the same, Khatija Iqbal same “I was married off at a young age and couldn’t continue my studies further. After my 12th grade, I couldn’t study for over 5 years. With Online Manipal, I’m able to study at my own pace and convenience. I hope to pursue my MBA degree as well and become an HR manager in future.”

The Manipal University of Jaipur (MUJ) brings forth a wealth of advantages that have facilitated the journeys of Rohan, Vishal, and Khatija:

Flexibility: Online education at MUJ stands as a cornerstone of flexibility. For working professionals, the online BBA program offers a tailored learning schedule, allowing them to seamlessly balance their careers and education.
Quality Faculty: The experienced faculty at MUJ play a pivotal role in guiding students towards excellence. The wealth of industry knowledge and guidance from the faculty fosters an environment of growth.
Affordability: The prices have been set considering the needs of learners from every walk of life. These prices ensure the learners can sponsor their own education ensuring they can get a degree without leaving a gaping hole in their pocket.
User-Friendly Learning: The user-friendly student portal described by Rohan is a reflection of MUJ’s commitment to creating an intuitive and accessible online learning environment. This facilitates smooth navigation and enhances the overall learning experience.

Conclusion

The above stories encapsulate the transformative power of education and the exceptional opportunities offered by the online degrees of Manipal University of Jaipur. Through flexibility, expert guidance, and user-friendly resources, MUJ is not merely an institution but a catalyst for dreams realized. As they continue on their educational journeys, their narratives echo the sentiments of countless others whose lives have been enriched by the boundless advantages of learning with MUJ.

The transformational journey of Nishank Govil from monastery to modern life

Life has an uncanny way of taking us on unexpected paths, often leading to remarkable stories of transformation and growth. This is the story of Nishank Govil, who stands out as a testament to the power of self-discovery and the pursuit of a deeper purpose.

Nishank Govil was born and brought up in Chittorgarh, Rajasthan. Not so studious as a child, he went to school just to pass his exams. After he completed his 12^th grade, he got admission to an engineering college. Soon after his first year, he realized engineering was not his cup of tea. While he was looking for alternatives, little did he realize that his life would take a 180-degree turn.

“Reading books created an inquisitiveness about spirituality”

“During my second year in college, I got interested in philosophy and psychology. That was the time I got introduced to spirituality. I read a few books about it. That was a starting point for me to get into spirituality and knowing more about it. I wanted to know why people practice it, why people give up everything and lead life like ascetics. They don’t care about their body and other human desires. I wanted to know what it is that attracts them to follow the life of an ascetic. I then went to ISCON, before which I was an agnostic,” Nishank says.

Attending the first ever spiritual session was a life changing moment for Nishank. That session answered his unanswered questions. He then started attending regular sessions at the organization. He embarked on a journey that saw him leaving behind the corridors of engineering classrooms to seek the solace and wisdom of monastic life. Nishank ended up joining as a monk at ISCON at the age of 22.

Speaking of his parents’ reaction to this life-changing decision, Nishank says, “My parents obviously had a negative reaction of me becoming a monk. But somehow that time, I was adamant that this is what I want to do. Though I tried to explain to my parents the importance of spirituality in my life, out of love and attachment, they were not ready to listen to me. Many people in India are skeptical of temples and spiritual organizations. Finally, they got some confidence that whatever I’m doing is good for me and society. They just wanted me to be in touch with them on a regular basis.”

Somehow, Nishank managed to convince his parents and set himself on a spiritual journey. Obviously, there were stark differences between the life Nishank had before he became a monk and the life after that. Here’s how he coped.

“Monkhood introduced me to a disciplined lifestyle”

“We used to wake up at around 3.30 in the morning, whether it was summer or winter. We used to take bath at that time. At 4.15 we had our first prayer in the temple. All the monks in the temple must attend it. At around 5, we used to do sound meditation continuously for 2 hours. At around 7, we have a light breakfast like fruits and milk because it keeps you active and doesn’t make you lethargic. Then we have prayers in the temple at 7.30, after which we have spiritual classes conducted by senior monks. Later, we have a full breakfast at around 9.30 which includes roti, sabzi, rice, and dal. This meal is very Sattvik. It doesn’t contain onions and garlic; it is medium spicy. Eating spicy food agitates your senses and it may give rise to negative feelings. After having our meal, we used to go out for services. There are different kinds of services like you can go out for preaching, fundraising, and other social programs. We get free from all the work at around 6 in the evening. We come back to the monastery and have evening dinner. We then have another prayer for about half an hour. We then read spiritual books for some time and later by 9.30, we go to bed.”

Sounds like a disciplined life, right? That’s exactly what Nishank did for 6 years straight. Even though he struggled to get accustomed to this routine initially, he eventually adapted.

For six years, he immersed himself in a world of spiritual contemplation, dedicating himself to the practices and teachings of his chosen path. But as the saying goes, ‘The only constant in life is change.’ After his years as a monk, Nishank Govil experienced a shift in perspective, leading him to make a decision equally as courageous as his initial departure from the conventional. With newfound insights and a heart full of experiences, he chose to re-enter the materialistic life, driven by a desire to contribute and engage with the world in a new way.

“Going back to materialistic life was not very easy”

“My parents were getting old – my father was about to retire. Initially, I joined with the mindset with the curiosity to know about spirituality and go deeper into that. When I got questions answered, I decided to come out of monkhood. My parents were also happy with this decision. Also, it’s very common for people to leave monkhood. Some of my peers have left after 2 years some after 6 years, and some even after 10 years,” he recalls.

Again, making this decision was not easy for Nishank, as coming back to materialistic life meant that he had to earn his own living.

“I used my existing skills to build on my career”

“I had thought through everything. First, being a monk gives the confidence do anything in life. It gives us the willpower to lead an independent life. Whatever I had learnt in those 6 years, it was time to put it into practice. I’ve given public speeches and I used to take lectures in colleges. Even T.A Pai Management Institute invited me to the orientation of their MBA batch. Since I didn’t have a degree, I knew I would face obstacles. But I was ready to adorn this situation. At that time, my father offered to sponsor my education again if I wanted to study. But I wanted to do something on my own,” he says.

“Soon, I came in touch with one of my known acquaintances and he was looking to hire someone for his company. I told him about my past. He was impressed with my communication skills, and he was looking for someone who is fluent in English and can do marketing for his company. So, that was the first job. I couldn’t negotiate my salary, I had to compromise. I had only one thought in my mind- I had to start working. Once I get some experience and build my skills, I can eventually move on to another job and explore opportunities,” he adds.

“I was losing opportunities because I didn’t have a degree”

After working in the company for 3 years, he moved on to work for a startup in Bangalore. Suddenly, he realizes that he was missing out on opportunities because he didn’t have a degree. Then started another chapter in his journey- online education. While he already had established contacts in Manipal University Jaipur, he chose to pursue his online MBA from there.

“I chose Online Manipal for the brand value”

“First of all, Manipal has got a very good brand name compared to other universities. I’ve also visited the Manipal University Jaipur campus- one of the best campuses in India I have seen. Moreover, I had studied their course structure and the subjects they teach were relevant for my job. We also got to work on mini projects, which helped me to get a deeper understanding of the subjects. Moreover, classes are on weekends, and it was convenient for me. Also, nowadays, online degrees are at par with regular education,” Nishank says.

“My experience with Online Manipal has been great. The curriculum consists of interactive activities and quizzes to ensure we have understood the topic or subject. Because of my busy schedule, if I’m not able to attend live classes, I can watch recorded lectures to get a fair understanding of the topic.”

Speaking about Ekam, the in-person online student engagement organized by Online Manipal, Nishank says, “When I was in Bangalore, Online Manipal conducted the first in-person interaction for online students. These kinds of offline engagements help learners know about professors, interact with them, get career advice and also meet peers. I have built strong connections with some of them, which feels great.”

Wrapping up

Nishank Govil’s journey is a reminder that every choice we make in our lives shapes our narrative. His story underscores the beauty of embracing change and braving odds to live life on our terms.

Important concepts to learn in MBA Marketing

Digital transformation is sweeping across industries, and businesses rely more on digital media to connect with their target audiences, provide goods and services, and attract customers. Marketing is in charge of creating, conveying, and meeting client demands. It spans the entire process, starting with product creation and continuing through delivery. A company’s financial success frequently hinges on its marketing expertise. It boosts negotiation power, creates devoted customers, safeguards against the competition, strengthens brands, and generates revenues by accomplishing all of these aspects.

An MBA in marketing is a wise decision for anybody interested in a career in marketing-related fields, including brand management, events, corporate communications, public relations, search engine marketing, and social media. This course teaches students about marketing, sales, consumer trends, techniques, and research in various industries to prepare them for business opportunities. Almost any discipline can benefit from a major in marketing as the field is broad and encompasses everything from human behavior and design to artwork and mathematical abilities.

Key subjects you will learn in MBA in Marketing

A four-semester MBA marketing course focuses on both management and marketing. This programme comprises core MBA marketing subjects and elective subjects. The foundational MBA subjects are taught to the learners during their first academic session. The applicants can select electives depending on their fields of interest and areas of speciality that may be connected to the job of the industry in which they hope to find employment. Workshops and internships are essential components of this programme. Employers can map candidates’ strong areas to their recruiting criteria, thanks to their specialities.

Core subjects in MBA Marketing

Marketing Research
Consumer Behavior
Retail Marketing
Strategic Management & Business Policy
Services Marketing and Customer Relationship Management
Advertising Management and Sales Promotion
E-Marketing
International Marketing
Sales Distribution and Supply Chain Management

General subjects in MBA Marketing

Management Process and Organizational Behavior
Business Communication
Statistics for Management
Financial and Management Accounting
Managerial Economics
Human Resource Management
Production and Operations Management
Financial Management
Marketing Management
Management Information System
Operations Research
Project Management

Note: The list of topics stated above is simply provided as a guide. The exact course options could vary depending on the program and university.

Critical topics one needs to learn during an MBA in Marketing

Branding, advertising, promotions, and sales make up the entire marketing field. Marketing’s primary objective is to boost product and service sales. An organization’s profitability is directly connected to its marketing performance due to the significant value firms place on this function. Marketing staff members are handsomely compensated. Let us look at marketing basic concepts.

Retail marketing

Retail marketing refers to the methods and plans by which retailers promote awareness and interest of their goods and services among consumers in an effort to generate sales. It includes all the strategies that consumer businesses use to draw clients and increase sales of products and offerings. A more customer-focused model has replaced the conventional notion of retail marketing, which involved a product being advertised at a certain price, sold from a business location, and subsequently discontinued.

Retail marketing strategies affect almost every element of a company’s operations, including store design, sales promotions, pricing strategies, advertising, checkout processes, and customer service. You must effectively promote your items in a market that is getting increasingly competitive, with customers having several options for nearly every product. An MBA in marketing will help you to build a career in this domain.

Brand equity

Brand equity is the financial value of a brand which provides capital/value to products and services, which is related to future returns that customers generate to the product or service. It is the premium a business receives from selling merchandise with a well-known brand name as opposed to a generic version. Making items remarkable, distinctive, and of the highest caliber and reliability allows businesses to build brand equity for their goods.

Building brand equity takes time and is quite complicated. Top brands like Apple, Google, Amazon, Tesla, and others have tremendous brand equity. Throughout your MBA in marketing, you will explore case studies and real-world projects to discover further about brand, branding and building brand equity.

Digital marketing

Digital Marketing is the promotion of brands to connect with potential customers using the internet and other forms of digital communication. This includes not only email, social media, and web-based advertising, but also text and multimedia messages as a marketing channel. Digital marketing targets a larger audience and allows you to pinpoint the consumers most inclined to buy your products or solutions. It also enables tracking regular progress by monitoring insights for necessary reorientation. Digital marketing is more economical than conventional marketing.

Consumer behavior

Consumer behavior is a fairly broad topic that encompasses many themes spanning psychology to behavioral science. It deals with the study of how individual customers, groups or organizations select, buy, use, and dispose of ideas, goods, and services to satisfy their needs and wants. It refers to the actions of the consumers in the marketplace and the underlying motives for those actions. Understanding this concept can help one better comprehend why, when, and how they purchase goods.

You will gain immense insight into the consumer decision-making model, the sociocultural context that affects choices, and psychological elements, including personality and attitudes in the study of consumer behavior. This is imperative course in the MBA Marketing specialization, as a successful marketer needs to be well informed regarding the same

Search engine marketing (SEM)

The practice of marketing a business using paid advertisements that appear on search engine results pages (or SERPs) is commonly known as Search Engine Marketing. Advertisers bid on keywords that users of services such as Google or Bing might enter when looking for certain products or services, which gives the advertiser the opportunity for their ads to appear alongside results for those search queries. These ads, known as pay-per-click ads, come as small, text-based ads, whereas others, such as product listing ads (PLAs, also known as Shopping ads) are more visual, product-based advertisements that allow consumers to see important information at a glance, such as price and reviews. The two most used search engines by marketers are Microsoft and Google advertisements, respectively. You can gain proficiency in this concept during your MBA in Marketing.

Advertising and sales promotion

Advertising and sales are two pillars of promotion. Promotional advertising develops a brand’s image, and the outcomes become apparent over time. Sales promotions are significantly more direct and concentrate on bringing money into the company’s bank immediately. Sales promotions provide a momentary incentive to buy, whereas advertising offers a justification for doing so. The former can therefore result in a short-term rise in sales but nothing in the way of long-term market share gains, particularly in markets where brands are substantially similar. In contrast, sales campaigns can permanently change market shares in areas where brands are very different.

7 Ps of marketing

A planned marketing strategy enables us to establish precise goals based on the firm’s current circumstances. The effective marketing mix (7Ps) comes into play when determining the techniques to carry out this plan. It’s crucial to discern how the 7Ps of marketing blend into the overall vision when developing a solid and effective marketing strategy.

This concept is one of the most frequently asked MBA marketing interview questions. The 7Ps are a group of well-known marketing strategies that you can employ in any order to please clients. They are:

Product
Price
Promotion
Place
People
Process
Physical evidence
Market research

Market research is the act of determining whether a fresh product or service is viable via surveys with potential customers. Businesses may use this method to identify their target demographic, collect and document customer feedback, and make informed decisions. Companies and organizations can conduct market research themselves or hire specialized firms to do it for them. Implementing polls, connecting with a cohort of people, often known as a sample, interviewing people, and other comparable procedures are all ways to conduct market research.

The main objective of market research is to analyze or explore the market for a specific good or service and to predict how the target market will respond to it. The data gathered from market research can be utilized to customize marketing and advertising campaigns or identify the features customers value most or any unmet service needs.

Data analytics

Data Analytics entails examining unprocessed data to make inferences about emerging goods and offerings that will additionally assist in directing the corporate choice. It offers businesses and marketing departments the opportunity to gain valuable information that will make them more competitive in today’s globalized world. With analytics, you may tailor your brand strategy and the customer experience rather than a more general approach.

Your marketing plan will be successful if you can anticipate trends and capitalize on them practically as soon as they emerge. Data analytics is the need of the day, and investing in data analytics can help firms overcome many obstacles and advance on the path to success.

AIDA model

The AIDA model is among the most widely used and significant models for tracking the customer pathway via the Awareness, Interest, Desire, and Action stages that a client ends up going through before purchasing a good or service. Brands use this technique to organize and deliver their marketing communications to their customer base at every stage of the purchasing process. This model outlines the cognitive phases a person experiences when making a purchase decision for a good or service. It is a purchasing conduit where customers move back and forth between stages to help them complete the sale.

Since social media has expanded the relationship beyond the consumer and the business, it now includes achieving AIDA’s various goals through data from other clients through social networks and communities.

Careers after MBA in Marketing

A marketing-related MBA opens up various professional prospects for you in the corporate world. It opens up a world of work prospects for you in the public and private sectors. Here are some of the top job roles you can explore after an MBA in Marketing.

Product Manager

A Product Manager acts as a bridge between various departments, stakeholders, and teams to ensure that a product is developed, launched, and managed effectively to meet both customer needs and business goals.

Brand Manager

Brand managers uphold the integrity and principles of a brand across all platforms. They strive to sustain the company’s brand throughout all tiers of marketing operations and to modify the marketing plan for the target audience.

Sales Manager

A sales manager’s primary duty is to ensure the sales team meets its goals. They strive to create quotas, assess and modify the sales team’s productivity, and identify innovative and enhanced sales-boosting procedures.

Business Development Manager

A manager of business development is focused on the expansion and improvement of a company. They strive to find fresh business prospects to boost the company’s profitability and increase sales.

Digital Marketing Manager

A digital marketing manager must understand the most recent digital marketing techniques and tools. They manage digital marketing initiatives, from developing the idea to putting it into practice. They also might team up with the entire marketing team to assist in the launch of initiatives.

Elevate your marketing career with Online Manipal

An online MBA in Marketing offered by Manipal University Jaipur (MUJ) will help you advance your career by opening doors to executive and managerial positions and increasing your earning potential. Through our online MBA in Marketing program, you will gain in-depth knowledge in marketing concepts, gain in-demand skills, and build an invaluable professional network with industry leaders, experts, and professionals.

What is Marketing Analytics? Benefits, tools, scope and careers

Most businesses nowadays leverage data to make well-informed decisions across various functions, and marketing analytics is a crucial aspect of this practice. By employing data, businesses can monitor and evaluate different marketing initiatives to gain deeper insights into their effectiveness.

What is marketing analytics?

Marketing analytics is the process of collecting, analyzing, and interpreting data related to marketing efforts and activities. The primary goal of marketing analytics is to gain valuable insights and understanding into the performance of marketing strategies and campaigns. By examining data, businesses can measure the effectiveness of their marketing initiatives, identify patterns and trends, and make data-driven decisions to optimize their marketing efforts.

Marketing analytics can provide valuable information on various metrics, such as customer behavior, conversion rates, return on investment (ROI), customer acquisition costs, and overall campaign performance. This data-driven approach enables businesses to allocate resources more efficiently, identify areas for improvement, and ultimately enhance their marketing strategies to reach and engage their target audience effectively.

Benefits of marketing analytics

In today’s marketing environment, the significance of precise data cannot be overstated. Consumers have grown increasingly discerning when it comes to selecting the branded content they interact with, while filtering out irrelevant media.

To captivate the attention of the ideal customer, brands must heavily depend on accurate data to craft personalized advertisements tailored to individual interests, rather than relying on generalized demographic assumptions. By doing so, marketing teams can deliver the most relevant ads precisely when and where they are needed, effectively guiding consumers through the sales journey. Here are some of the benefits of using marketing analytics.

Understanding consumer behavior

Marketing analytics allows you to track consumer behavior and see what they are doing, so you can plan for the future. Every customer goes through a unique journey before making a purchase decision. By leveraging marketing analytics, businesses can gain valuable insights into how customers interact with their brand across various touchpoints, such as social media and search. These insights allow marketers to provide personalized information and tailored experiences at each stage of the customer journey, ultimately driving growth and fostering customer loyalty.

Making informed decisions

You can’t make informed decisions if you don’t have the information to back them up. And when it comes to marketing, there are so many variables involved that it’s impossible to know what works unless you have something to compare it to. Marketing Analytics gives you access to information that helps you make better decisions about your marketing plan. Without it, you’d be making choices based on gut instinct or personal preference alone—and those aren’t always great bases for decision-making!

Integrating marketing data for comprehensive analysis

Marketing teams often run campaigns across different platforms and teams. Gathering data from various channels can be challenging. With the use of marketing analytics, you can simplify processes by centralizing all marketing data for comprehensive analysis. This integration of marketing data empowers businesses to make data-driven decisions and optimize their marketing strategies effectively.

Enhancing brand awareness

In today’s competitive market, brand awareness plays a crucial role in attracting customers. Marketing analytics enables businesses to analyze key metrics across social channels and compare their brand awareness with competitors. By examining search volumes, web traffic, and social media sentiment, marketers can develop strategies to improve brand awareness and gain a competitive edge. With marketing analytics, businesses can track their brand’s performance and make data-driven decisions to enhance brand visibility and customer perception.

Staying ahead of competition

In today’s competitive landscape, businesses must leverage every advantage to stay ahead. Marketing analytics provides businesses with a competitive edge by enabling data-driven decision-making, optimizing campaigns, and enhancing customer experiences. By harnessing the power of marketing analytics, businesses can gain valuable insights into market trends, customer behavior, and competitor strategies. This knowledge empowers businesses to make informed decisions, refine their marketing strategies, and outperform their competitors.

Application of marketing analytics with examples

Marketing analytics is a powerful tool that can help you make good decisions, but it’s not magic. Here are some of the best examples of marketing analytics applications –

Use of marketing analytics to improve its website

Amazon has long been a leader in marketing analytics, using its data-driven approach to continue innovating its website and product offerings. For example, they have used data from their customers to help them improve their search functionality, including personalizing results based on each user’s browsing history. This personalized experience helps visitors find what they’re looking for faster and more efficiently, which keeps them returning to Amazon.

Using marketing analytics to make content recommendations

Netflix is another company that extensively uses marketing analytics to create content recommendations more likely to appeal to each viewer’s tastes. They collect data about what people watch (and don’t watch) every month and use this information to inform their recommendations algorithmically.

Customer insights

Walmart has an enormous amount of data about its customers’ shopping habits. It knows where they live when they shop there, how much money they spend at the store each year, and much more! This information allows Walmart to target specific customers with coupons or other offers that appeal directly to them.

Marketing analytics skills

Here are some of the key marketing analytics skills you must know

Data analysis

One of the critical marketing analytics skills is data analysis. This involves using statistical methods to analyze large data sets and draw conclusions from them. A good marketer must identify patterns in their data and determine how to use them to improve their marketing strategy.

Analytics tools

Next, analytics managers must be onboarded and comfortable with various automation tools and analytics platforms, because of the vital role these tools play in reducing the time from consumer engagement to consumer insight.

Spreadsheet skills

Businesses use spreadsheets for many things, including managing budgets and sales figures. Marketers need good spreadsheet skills to effectively manage all these different aspects of their role within an organization’s hierarchy.

Data visualization

Data visualization can take many forms, including charts, graphs, maps, etc. It’s important to choose a format that’s appropriate for your audience. If you are working with people who are unfamiliar with the data or industry-specific terminology, you may want to stick to a simple horizontal bar graph.

Careers in marketing analytics

Here are some of the top career opportunities that include marketing analytics as a major role.

Job role	Average salary
Data Analytics Manager	INR 23 LPA
Marketing Analyst	INR 10 LPA
Digital Marketing Analyst	7.2 LPA
Data analyst	INR 6.7 LPA

Source: Glassdoor

Marketing analytics tools

Marketing analytics tools are software programs that help marketers and business owners gather and analyze their marketing campaign data. They measure how well a campaign performs, so you can see what kind of return you are getting on your investment. Here are some of the top marketing analytics tools you can use.

Google Analytics

Google Analytics is one of the most widely used and powerful marketing analytics tools. It provides information on how many people are visiting your website, what they are doing there, and how you can improve your site for better conversions.

Semrush

Semrush functions as a marketing analytics solution designed to grant insights into your competitors’ actions. By utilizing SEMrush, you can gain a competitive edge in search outcomes and easily oversee rivals’ social media profiles and brand activities.

MixPanel

MixPanel is a marketing analytics tool that focuses on user engagement. It allows you to see who uses your product or service and helps you understand how they interact with it so you can optimize their experience.

Heap Analytics

Heap Analytics is a tool that allows you to see how your users interact with your website, and it also helps you understand why they are doing what they are doing. With this information, you can make data-driven decisions about your marketing strategy based on user behavior rather than assumptions or guesses.

Cyfe

Cyfe is a dashboard tool similar to Heap Analytics in many ways, but it also has some unique features that make it worth checking out. It allows you to create custom dashboards and visualize data in new ways—and it integrates with other marketing analytics tools like Google Analytics to compare and contrast data sets across multiple platforms.

How does marketing analytics help businesses?

The biggest advantage of marketing analytics that helps businesses is that it allows you to take a more scientific approach to the market. This means that you can measure the effectiveness of your campaigns and then use that data to make smarter decisions about how you spend your money.

With the advantages of marketing analytics, businesses can find out which of their ads work best and which ones don’t. This allows them to optimize their advertising budget by only spending on the ads that are getting the best results.

Marketing Analytics also helps with customer acquisition. By analyzing trends in customer behavior and preferences, businesses can tailor their marketing efforts toward those customers who are most likely to buy from them. This makes it easier for companies to attract new customers without spending as much on advertising or other promotional materials.

Also read: Importance of business analytics in marketing

Bottom line

When you choose the MAHE’s online MBA in marketing at Online Manipal, you gain hands-on experience with the skills, tools, and knowledge necessary to successfully manage your company’s marketing campaigns through an emphasis on data-driven decision-making and consumer-focused research. It will also help you understand the critical role of social media marketing, brand management and consumer behavior in today’s business world. Enroll now!

ALSO READ: Important concepts to learn during an MBA in Marketing

What is the BCG Growth Share Matrix?

The BCG Growth-Share Matrix, a strategic framework introduced by the Boston Consulting Group, stands as a crucial instrument in the arsenal of modern business analysis. This matrix facilitates a structured assessment of a company’s array of products or business units by leveraging the interplay between their market growth rates and relative market shares. The resultant visual representation aids in pinpointing the strategic standing of each entity within the portfolio.

The BCG Growth Share Matrix empowers businesses to make well-informed decisions regarding investment, divestment, and resource allocation by offering insights into the potential opportunities and challenges inherent in the market. In the intricate landscape of contemporary commerce, this tool continues to serve as a guiding light, enabling organizations to chart a course toward sustained growth and competitive prowess.

Also read: How can MBA grads help businesses develop a sustainable competitive advantage?

The BCG matrix is centered on the covert interactions between relative market share and market growth rate, which results in a visually clear division of these entities into four separate quadrants. At its essence, the matrix delineates products or units as “Stars,” denoting high market growth and substantial market share, indicative of latent future profitability. “Cash Cows” are emblematic of products entrenched in mature, languidly evolving markets yet adept at perpetuating a steady stream of cash flow.

“Question Marks” or “Problem Children” denote products entrenched in high-growth domains but grappling with low market share, catalyzing a need for strategic decisions concerning investment or divestment. “Dogs” connote entities struggling with minimal market share in lethargic markets, thereby often warranting reconsideration for potential discontinuation.

Here’s a tabular overview of the BCG Growth-Share Matrix:

Quadrant	Category	Description
High Growth, High Market Share	Stars	Rapidly growing products with substantial market share. Usually requires heavy investment.
High Growth, Low Market Share	Question Marks	Products in emerging markets with growth potential but low market share. Need investment.
Low Growth, High Market Share	Cash Cows	Mature products in established markets, generating consistent cash flow. Little need for investment.
Low Growth, Low Market Share	Dogs	Products with low growth and market share are often not a primary focus and may be divested.

This systematic methodology facilitates bespoke strategizing for each quadrant. Strategies may pivot towards investing in Stars and Question Marks to harness growth prospects as Cash Cows continue to fortify financial resources. Simultaneously, the reappraisal or prospective discontinuation of Dogs can judiciously optimize resource allocation. By furnishing a structured framework for dissecting product portfolios, the BCG Growth Share Matrix empowers enterprises to execute judicious determinations encompassing resource allotment, investment endeavors, and holistic portfolio stewardship.

Also read: 10 ways how MBAs shape leaders

Let’s delve deeper into the BCG Growth Share Matrix, elucidating each quadrant along with detailed examples:

1. Dogs:

Dogs inhabit the quadrant characterized by low market growth and low market share. These entities often find themselves entrenched in mature or declining markets where growth opportunities are limited. Due to their diminished market appeal, Dogs struggle to attract a substantial customer base, resulting in minimal profits.

Factors such as intense competition, shifting consumer preferences, or technological advancements contributing to their obsolescence are common in this category. Thus, strategic decisions surrounding the future of Dogs revolve around determining whether they should be revitalized, repositioned, or phased out altogether to free up resources for more promising endeavors.

Example: A manufacturer of conventional flip phones operating in an era dominated by smartphones. With the rapid proliferation of smartphones and their advanced features, flip phones have become less attractive to consumers, leading to a dwindling market share and little growth potential for the company.

2. Question Marks or Problem Children:

Positioned in the Question Marks quadrant, these entities experience the juxtaposition of high market growth potential and low market share. This scenario suggests that they operate in markets with immense expansion possibilities, but their current market share does not adequately reflect their growth prospects. Navigating this quadrant requires strategic consideration: should resources be injected to seize growth opportunities and transition into Stars, or should these entities be divested to reallocate resources more effectively?

Example: An emerging biotechnology startup focused on developing personalized cancer treatments. Operating in a rapidly evolving medical landscape, the startup holds the potential for groundbreaking innovations. However, due to the complexity of the field and intense competition, the startup’s market share remains limited, placing it within the Question Marks quadrant.

3. Stars:

Stars thrive within the quadrant characterized by high market growth and substantial market share. These entities capitalize on expanding markets and have successfully captured a notable percentage. While profitability is a hallmark of Stars, maintaining its market dominance demands continual investment to sustain growth momentum and capitalize on evolving market dynamics.

Example: An innovative electric vehicle (EV) model operating in a market experiencing surging demand for sustainable transportation solutions. With a substantial market share and potential for further growth in the EV sector, this vehicle represents a Star. The company invests resources in research, technology advancement, and branding to solidify its position as a leader in the evolving EV market.

4. Cash Cows:

Cash Cows, residing in the quadrant marked by high market share and low market growth, are entities that have achieved a dominant position in stable markets. While growth prospects are limited, they continue to generate significant cash flow due to their entrenched market presence. These entities serve as reliable sources of funding for other strategic endeavors.

Example: A widely-adopted enterprise software solution operating in a mature market. While growth in this market is limited, the software product sustains substantial profitability due to its extensive user base and reliability, designating it as a Cash Cow.

Also read: Why choose an MBA in Marketing?

Benefits of a BCG matrix

By categorizing products into four quadrants (Stars, Question Marks, Cash Cows, and Dogs), the BCG matrix helps companies identify where each product stands regarding its market potential and profitability. This information can guide businesses in several ways:

Resource allocation optimization:

The BCG matrix, a time-honored tool, aids companies in effectively channeling their resources. By segmenting products into strategic categories based on growth potential and market share, businesses can intelligently allocate investments where they’re most needed. This ensures judicious use of capital, steering it towards promising products poised for expansion while considering divestment for those with limited prospects.

Holistic portfolio analysis:

This matrix offers a panoramic view of a company’s product portfolio. This vantage point empowers decision-makers to assess the balance between high-growth, high-return prospects and dependable cash generators. By comprehending the portfolio’s overall health, management can identify vulnerabilities, seize diversification opportunities, and mitigate risks associated with over-dependence on specific products.

Strategically nuanced planning:

The BCG matrix in strategic management compels businesses to craft strategies tailored to the unique attributes of each quadrant. For instance, for promising Stars, strategic investments and innovation efforts can be pursued to propel them into self-sustained growth orbits. Meanwhile, Cash Cows can be meticulously nurtured to optimize profitability, generating resources that can fuel other ventures.

Maximizing resource yield:

The matrix steers companies away from dissipating resources on ventures with marginal potential. Instead, it urges them to concentrate on endeavors with promising market traction and growth prospects. This strategic alignment heightens the efficiency and impact of resource utilization, contributing to sustainable growth and competitive advantage.

Prudent decision prioritization:

This strategic tool imbues organizations with a method to prioritize their actions judiciously. By categorizing products according to their growth potential and market position, companies can develop a hierarchical decision-making framework. This approach leads to astute resource allocation, optimizing outcomes in line with overarching strategic objectives.

Informed market insights:

The BCG matrix invites a profound understanding of market dynamics, competitive dynamics, and emerging trends. This insight empowers enterprises to make informed, data-driven decisions regarding market entry, expansion strategies, and resource allocation. In an environment of uncertainty, these insights foster agility and adaptability.

Also read: MBA course guide [2023]: All you need to know

In essence, the BCG matrix serves as an elevated instrument that facilitates the optimal use of resources, amplifies strategic planning, and imparts a panoramic understanding of a business’s portfolio. It stimulates pragmatic decision-making by aligning actions with the market’s potential, ensuring a resilient and prosperous trajectory for the enterprise. This analytical apparatus persists as an indispensable asset for discerning leaders striving to optimize market positioning, engender sustainable expansion, and deftly navigate the mutable currents of the market milieu.

Also read: Important concepts to learn during an MBA in Marketing

What is Maslow’s Hierarchy of Needs?

Maslow’s Hierarchy of Needs is a seminal psychological framework posited by Abraham Maslow, outlining the hierarchical arrangement of human needs. This theory delineates the progressive emergence of necessities, commencing with physiological requirements and advancing towards higher-level aspirations for personal growth and self-actualization. The pyramid-like structure encompasses five distinct levels, each representing a distinct class of needs that must be fulfilled sequentially.

From fundamental physiological necessities to the pursuit of self-fulfillment and actualization, this influential theory offers a profound insight into the intricate interplay of human motivations and desires. This comprehensive guide aims to delve deep into the theory, elucidating each level in detail and its significance in shaping human behavior and well-being.

Also read: 10 ways how MBAs shape leaders

Maslow’s Hierarchy of Needs theory

Maslow’s hierarchy of needs theory is depicted as a pyramid with five distinct levels, each representing a category of needs. At the base of the pyramid are the physiological needs, followed by safety needs, love and belongingness needs, esteem needs, and finally, self-actualization needs at the pinnacle.

Physiological needs

Physiological needs form the foundation of Maslow’s Hierarchy, representing the most fundamental requirements for human survival and well-being. These needs are biologically driven and pertain to the necessities essential for maintaining bodily functions. Air, as a primary physiological need, is vital for respiration and oxygenation of tissues. The need for water is critical to maintain hydration and support numerous bodily processes, including digestion and waste elimination. Another core physiological need is food, which provides the necessary nutrients and energy to sustain life and maintain bodily functions. Proper nutrition is essential for growth, repair, and overall health.

The shelter is equally crucial, offering protection from external elements and providing a safe and stable environment in which to live. It shields individuals from extreme weather conditions, enhancing their chances of survival. Last but not least, sleep is a fundamental physiological requirement that aids in the recovery and renewal of one’s body and mind. For memory encoding, emotional control, and cognitive performance, adequate sleep is essential. Without fulfilling these physiological needs, individuals’ focus remains primarily on survival and ensuring their basic well-being.

Safety needs

Safety needs arise once physiological needs are reasonably satisfied and individuals seek stability and security in their lives. These needs span an extensive list, including a sense of environmental predictability, financial security, emotional stability, and physical safety. Being free from danger or injury and residing in a setting that makes one feel safe and secure are both aspects of physical safety. This includes having a safe home, access to healthcare, and protection from potential threats.

Emotional safety is equally significant, as it entails feeling secure in one’s relationships and expressing emotions without fear of judgment or harm. Establishing trust and building healthy boundaries in interpersonal connections contribute to fulfilling emotional safety needs. The sense of control and stability over one’s life that comes with financial security. Future angst can be alleviated by having a reliable income, savings, and investment strategy. In addition, safety needs encompass a need for routine and predictability in daily life.

Love and belongingness needs

“Love and belongingness needs” highlights the significance of human social connections and meaningful relationships. These needs are at the heart of building interpersonal bonds and feeling a sense of belonging within communities and social groups. The need for love entails seeking affection, care, and emotional support from intimate relationships, such as family and close friends. Emotional intimacy fosters feelings of acceptance, empathy, and understanding, creating a secure emotional foundation for personal growth.

‘Belonging needs’ extend beyond immediate relationships and involve fitting into larger social circles, communities, and cultural groups. Feeling accepted and valued by one’s peers and being an integral part of a community contribute to a sense of belonging and connectedness. Social interactions and forming social networks are critical components in satisfying love and belongingness needs. These connections provide emotional support, reduce feelings of isolation, and enhance overall well-being.

Esteem needs

“Esteem needs” incorporate the desire for favorable self-perception, self-worth, and recognition from others. Self-esteem, or the perception of one’s value and competence, is intimately related to these needs. A person’s sense of self-worth reflects their belief in their skills, convictions, and morals. It involves accepting oneself and acknowledging personal strengths and accomplishments. Folks with a high sense of self-worth are more able to prevail over adversities and have an optimistic perspective on life.

When we talk about external esteem, we mean the need for acceptance and applause from others. Acknowledgment of one’s achievements and contributions boosts self-confidence and reinforces positive self-regard. Success and accomplishment play a significant role in fulfilling esteem needs. Achieving goals and receiving praise from others for one’s efforts fosters a sense of competence and motivation to pursue further personal growth.

Self-actualization needs

The top rung in Maslow’s hierarchy is self-actualization, which emphasizes personal development, fulfillment, and the realization of one’s unique potential. It calls for self-awareness, innovation, and the pursuit of worthwhile objectives that are consistent with one’s ethical values. Cultivating one’s interests, drives, and strengths to pursue endeavors that provide intrinsic fulfillment and delight is an imperative phase on the path to self-actualization. Understanding one’s genuine self, abilities, and limitations requires self-awareness and introspection. It involves aligning actions and choices with personal values and beliefs. Cultivating creativity allows individuals to express themselves authentically and engage in innovative problem-solving and self-expression.

A dedication to self-improvement and a readiness to face setbacks and incertitude is vital for self-actualization, making it a lifelong process of continuous improvement and self-discovery.

Maslow’s Hierarchy of Needs illustrates that individuals progress through the levels. As each tier gets over, the focus moves on to the subsequent level. However, not all individuals reach the self-actualization stage, and the fulfillment of needs may vary from person to person.

Maslow’s expanded Hierarchy of Needs

Maslow’s expanded hierarchy of needs is an extension of his original hierarchy of needs, which proposes that human motivation is structured hierarchically, with each level building upon the previous one. In the original hierarchy, Maslow outlined five basic needs; however, he later expanded this model to include three additional layers that delve into more complex aspects of human motivation and fulfillment. Maslow’s expanded hierarchy of needs highlights the complexity and richness of human motivation and development.

Cognitive needs:

At the cognitive needs level, individuals seek knowledge, understanding, and intellectual stimulation. This goes beyond the mere satisfaction of basic survival requirements and taps into the innate human curiosity and desire for mental growth. Individuals are motivated by cognitive needs to explore, grow, and partake in activities that stretch their cognitive abilities. This might include striving for an education, resolving challenging issues, seeking out novel experiences, and attempting to comprehend the world more profoundly.

Aesthetic needs:

The aesthetic needs layer delves into the appreciation of beauty, harmony, and artistic expression. Humans possess an inherent inclination towards finding and creating beauty in various forms. This can include experiencing nature’s wonders, admiring visual art, listening to music, reading literature, and engaging in artistic pursuits. Aesthetic needs are distinct from mere sensory gratification; they encompass a profound emotional response to aesthetics, evoking feelings of wonder, inspiration, and contemplation.

Transcendence needs:

The highest level in Maslow’s expanded hierarchy is the transcendence needs level. At this stage, individuals seek to go beyond themselves and connect with something greater and more profound. Transcendence needs are about finding meaning and purpose in life beyond self-centered pursuits. This frequently entails acts that reflect compassion, altruism, and a sense of obligation to others and society as a whole. It might also involve a search for spiritual advancement, a kinship with a higher force, or a deeper comprehension of the cosmos and one’s position within it.

Also read: Best marketing jobs & careers to pursue in 2023

Growth needs vs. deficiency needs

In the realm of motivational theory, Abraham Maslow introduced the dichotomy of growth needs and deficiency needs as cardinal determinants of human behavior. These principles find representation in Maslow’s well-regarded hierarchy of needs, which elucidates the hierarchical arrangement of human necessities.

Deficiency needs, denoted as fundamental requirements, comprise the lower echelons of the hierarchy. They encompass physiological needs (sustenance, hydration, shelter), safety needs (personal security, financial stability), and social needs (affiliation, belongingness). These needs are deemed indispensable for an individual’s survival, well-being, and security. When ‘deficiency needs’ remain unfulfilled, they wield potent influence, motivating individuals to seek fulfillment and resolution. In contrast, growth needs are situated at the upper strata of Maslow’s hierarchy.

These comprise psychological and self-actualization needs, including those for self-worth, success, and fulfillment. Growth needs, as opposed to deficiency needs, emanate from a deep yearning for self-actualization, personal growth, and the realization of one’s intrinsic potential rather than from an impression of insufficiency or deprivation. As individuals satiate their deficiency needs, they become increasingly inclined to pursue growth needs. This complex and multifaceted growth needs greater introspection and self-awareness. Individuals aim for self-actualization, making an effort to realize their full potential, showcase their unique traits, and engage in worthwhile pursuits.

Comprehending the differentiation between growth needs and deficiency needs is of paramount significance across various domains, encompassing psychology, management, and education. Discerning the driving forces behind individuals’ behaviors can inform strategies for personal development, employee motivation, and the creation of enriching learning environments. By acknowledging and addressing both types of needs, individuals can endeavor to lead a more harmonious and rewarding life, fostering continuous personal growth and self-improvement.

Also read: How can MBA grads help businesses develop a sustainable competitive advantage?

Conclusion

In conclusion, Maslow’s Hierarchy of Needs Theory highlights the intricacies of human motivation and the progressive nature of fulfilling various needs. Individuals’ behavior, well-being, and pursuit of self-fulfillment and personal progress are greatly influenced by how well their physiological, safety, love, esteem, and self-actualization requirements are addressed. Individuals can have a deeper awareness of what drives them while enhancing how well they meet the needs of others in their particular social and cultural circumstances by thoroughly comprehending the importance of Maslow’s hierarchy of needs.
Also read: Online MBA from Manipal University Jaipur: Eligibility, fee, and admission process

What is Porter’s 5 forces model?

Porter’s Five Forces model, conceived by the esteemed economist Michael E. Porter, is a robust strategic framework developed in 1979. This model serves as an invaluable tool for analyzing the competitive landscape within a given industry, enabling businesses to comprehensively assess their competitive standing and make well-informed strategic choices. Organizations can gain a profound understanding of their market dynamics by identifying and scrutinizing five critical forces shaping an industry’s competitive intensity and profitability, namely:

The threat of new entrants
The bargaining power of buyers
The bargaining power of suppliers
The threat of substitute products or services
The intensity of competitive rivalry among existing players

Enterprises can accurately evaluate industry attractiveness, risks, and potential opportunities, while also discerning areas of competitive advantage through this systematic approach. Armed with such insights, businesses can craft effective strategies to fortify their market position, optimize profitability, and ensure sustained long-term success. Porter’s 5 forces model remains an enduring fixture in the realms of business and strategic management, offering a dependable means to discern industry structures and dynamics.

Also read: Why choose an MBA in Marketing?

What are Porter’s five forces?

Michael Porter’s 5 forces model is a comprehensive tool that empowers businesses to conduct a sophisticated analysis of their industry’s competitive landscape and evaluate its overall appeal for both existing incumbents and prospective entrants. The framework entails five key factors:

Competitive Rivalry: This factor scrutinizes the intensity of competition among existing firms within the industry. Factors such as market concentration, product differentiation, and exit barriers are considered to ascertain the competitive landscape’s impact on profitability and sustainability.

Bargaining Power of Suppliers: This factor gauges the leverage that suppliers possess over the industry. Factors such as supplier concentration, product differentiation, and alternative sourcing options are analyzed to comprehend the level of influence suppliers have in the market.

Bargaining Power of Buyers: This factor assesses the influence that buyers exert over pricing and product offerings. Evaluating buyer concentration, switching costs, and the availability of substitute products allows businesses to grasp the extent of control wielded by buyers in the market.

The threat of Substitutes: This factor explores the possibility of alternative products or services outside the industry that could fulfill customers’ needs. An in-depth analysis of substitutability enlightens businesses about the degree of competition they can encounter from external substitutes.

Threat of New Entrants: This factor delves into the ease with which new entities can penetrate the market and compete against established players. Examining entry barriers, capital requirements, and access to distribution channels facilitates understanding the potential impact of fresh entrants on the industry’s competitive dynamics.

Competitive rivalry

“Competitive Rivalry” evaluates the intensity of competition among existing firms within the sector. In a highly competitive rivalry scenario, companies aggressively vie for market share, leading to price-based battles and aggressive marketing campaigns. This dynamic often leads to reduced profitability for all players involved. Conversely, in a low, competitive rivalry environment, companies can enjoy higher profit margins and greater pricing power due to limited direct competition.

Example:

Let’s consider the airline industry as an example to illustrate the concept of competitive rivalry within Porter’s Five Forces framework. In the airline industry, competitive rivalry is fierce among major carriers and international players that operate in a highly commoditized market where customers often make purchasing decisions based on ticket prices and convenience. Due to the intense rivalry, airlines continually engage in price wars and extensive marketing campaigns to attract and retain customers. They also invest heavily in fleet upgrades, onboard services, and loyalty programs to differentiate themselves from their competitors.

Moreover, the industry’s high fixed costs, including aircraft, maintenance, and infrastructure, add to the pressure on profitability. This results in a challenging operating environment where airlines must carefully manage costs and pricing strategies to remain competitive and profitable. By applying Porter’s Five Forces analysis, airline companies can gain valuable insights into the dynamics of competitive rivalry, enabling them to make informed decisions about pricing, service offerings, and market positioning to achieve sustainable growth and profitability in a challenging and highly competitive industry.

Supplier power

“Supplier power” assesses the influence that suppliers hold over firms operating in the industry. When suppliers have significant power, they can dictate terms, prices, and product availability, impacting the profitability of businesses.

Example:

In the context of analysis, let’s continue with the airline industry as an example to illustrate supplier power within Porter’s Five Forces framework. The airline industry heavily relies on jet fuel suppliers, such as major oil companies. Given the specialized nature of jet fuel production and the limited number of suppliers, these companies can exert significant supplier power over airlines. The industry’s reliance on a specific fuel type with limited substitutes strengthens the position of these suppliers. As a consequence, when global oil prices rise, airlines often face higher fuel costs, which can put pressure on their profitability and operational efficiency.

Moreover, suppliers can leverage their power to negotiate long-term contracts with favorable terms, leaving airlines with less flexibility to switch to alternative fuel sources or suppliers. Airlines must engage in strategic negotiations, seeking long-term partnerships that secure stable fuel prices and mitigate volatility in the market to cope with supplier power. Diversifying fuel procurement sources and investing in energy-efficient aircraft are other measures that airlines can adopt to lessen the impact of supplier power on their operations.

Buyer power

Buyer power, as one of Porter’s Five Forces, refers to the ability of customers to influence the pricing, quality, and terms of products or services in a specific market. It assesses how much control buyers have over suppliers and whether they can drive down prices or demand better offerings. High buyer power can pose a threat to businesses as it limits their ability to set prices and affects profitability.

Example:

Consider the scenario where airlines are the buyers in this market, while aircraft manufacturers represent the suppliers. Given the substantial capital investment required to procure aircraft, airlines hold significant leverage in negotiating prices and contractual terms. In such a scenario, airlines can demand competitive pricing and enhanced product features, potentially impacting the profit margins and strategic decisions of aircraft manufacturers.

To counterbalance this buyer power, aircraft manufacturers can adopt strategies to differentiate their products, focus on technological advancements, and offer compelling after-sales support to enhance customer loyalty and reduce the risk of airlines switching to alternative suppliers. The aviation industry’s equilibrium thus heavily depends on addressing buyer power dynamics through strategic approaches and customer-centric initiatives.

Threat of substitution

“Threat of Substitution” examines the likelihood of customers switching to alternative products or services that fulfill the same need. This threat is higher when there are numerous substitutes available, putting pressure on the company’s pricing and profit margins.

Example:

In the airline industry, the threat of substitution is a crucial factor that impacts competitive dynamics. Air travel faces the risk of substitution from various transportation modes such as trains, buses, and cars, particularly for short-haul routes. High-speed rail systems and improved road infrastructure have made ground transportation increasingly viable options for travelers, presenting a formidable challenge to airlines. Additionally, advancements in communication technology and virtual conferencing have reduced the necessity for business travel, further intensifying the threat of substitution for airlines on certain routes.

As customers seek more convenient, cost-effective, and eco-friendly alternatives, the airline industry must constantly adapt, enhance service offerings, and invest in innovation to remain attractive to travelers. Faced with the risk of substitution, airlines must focus on enhancing overall travel experiences, providing exceptional service, and leveraging technology to differentiate themselves from alternative transportation modes. Moreover, industry players should closely monitor changing consumer preferences and invest in sustainable practices to address environmental concerns, mitigating the potential impact of substitution threats on their business operations.

Threat of new entry

The “Threat of New Entry” assesses the potential for new companies to enter the market and compete with existing players. This force hinges on various barriers to entry, including economies of scale, brand loyalty, access to distribution channels, and government regulations.

Example:

The threat of new entry into the aerospace industry, an intricate and capital-intensive sector, is significantly restrained by formidable barriers. Firstly, the aerospace industry requires immense financial resources for research, development, and manufacturing of technologically advanced aircraft and components. These upfront investments make it challenging for new entrants to compete effectively. Secondly, strict regulatory standards and safety certifications imposed by aviation authorities create additional hurdles.

Complying with these regulations demands significant time and expertise, further deterring potential newcomers. Furthermore, the industry’s complex supply chain and global network of suppliers have been established over time, enabling existing players to enjoy economies of scale and long-standing relationships. Thus, the aerospace industry’s high entry barriers due to substantial capital requirements, stringent regulations, and established supply chains significantly reduce the threat of new entry, allowing the established players to maintain their dominance.

Significance of Porter’s 5 forces model

The 5 forces model of Porter is an indispensable tool in strategic management, providing a sophisticated analysis of an industry’s competitive landscape. It facilitates a profound comprehension of the intricacies that shape the industry’s structure, thereby aiding top-level decision-making and strategy formulation. With this deep insight, businesses can develop ingenious strategies, strengthen their edge in the market, and arrive at intelligent choices to thrive in an intricate, constantly changing business environment.

Also read: 8 reasons why marketing could be your dream career

How to apply Porter’s 5 forces model?

The Five Forces model is a comprehensive business analysis framework used to assess the competitive environment within an industry. To apply this model, start by examining various factors that influence the industry’s competitive intensity, market attractiveness, and profitability. Evaluate the entry barriers, the influence of suppliers and buyers, the potential for substitute products or services, and the level of rivalry among existing competitors. Analyze the data and draw insights to make informed strategic decisions. Regularly revisiting this analysis will enable businesses to adapt to evolving market conditions and maintain a competitive advantage.

Also read: Best marketing jobs & careers to pursue in 2023

Improve your marketing knowledge through Online Manipal

Elevate your marketing acumen with the esteemed MBA in Marketing from Manipal University Jaipur and Manipal Academy of Higher Education offered through the platform of Online Manipal. This intellectually stimulating journey delves into the intricacies of modern marketing paradigms by leveraging the benefits of the platform of Online Manipal.

Also read: MBA marketing course syllabus

A multifaceted curriculum transcends theoretical concepts, delving into the nuances of consumer behavior analysis, cutting-edge marketing strategies, and innovative market research methodologies. Embarking on this transformative educational voyage empowers ambitious professionals to decipher complex industry challenges, cultivate refined business acumen, and foster a profound understanding of the dynamic marketing landscape, setting the stage for a thriving and accomplished marketing career.

Also read: Important concepts to learn during an MBA in Marketing

Conclusion

Porter’s Five Forces model is a widely recognized and extensively used framework in strategic planning and business analysis. Its applicability spans various industries and enables organizations to develop effective strategies to navigate the complexities of their competitive environments successfully. Regular reassessment of these forces ensures that businesses remain adaptive to evolving market conditions and maintain a sustainable edge in the ever-changing business landscape.

Explore our online Bachelor of Arts & Master of Arts in English, Political Science & Sociology programs from Sikkim Manipal University

The 4Ps of marketing mix

The 4Ps of marketing, occasionally referred to as the 4 p of marketing mix, form the essential pillars that underpin a successful marketing strategy. These four fundamental elements encompass Product, Price, Promotion, and Place. Each ‘P’ represents a critical aspect that businesses must carefully analyze and optimize to achieve their marketing objectives.

By thoughtfully aligning and optimizing these four elements, businesses can create a compelling marketing mix that enhances their market position, drives customer engagement, and fosters sustained business success. The 4Ps of marketing remain a timeless framework, guiding marketers in navigating the ever-evolving landscape of consumer behavior and preferences.

Also read: Best marketing jobs & careers to pursue in 2023

What are the 4Ps of marketing?

The 4Ps of marketing are vital tenets that form the basis of dominant marketing initiatives. Each “P” represents a critical aspect that businesses must consider to succeed in the market.

Product: It entails comprehending and adjusting the offering to satisfy the target customers’ unique demands and preferences.

Price: Adopting the appropriate pricing is vital to accomplish profitability while ensuring consumer satisfaction.

Place: Also known as distribution, this “P” involves deciding how and where the product will be made available to the customers.

Promotion: This element focuses on communication and promotion activities aimed at creating awareness and driving demand for the product.

The extended version of this idea, referred to as the 7Ps of marketing, adds three more dimensions besides the original 4Ps of marketing:

People: This highlights the importance of the individuals that are part of the marketing process, such as employees, sales agents, and customer service representatives.

Process: The process dimension deals with the operational aspects of delivering the product to customers.

Physical Evidence: This pertains to the tangible elements that support the product or service offering. It includes factors like branding, packaging, store atmosphere, and any tangible evidence of the product’s value.

Detailed explanation of the 4PS of marketing with examples

Product

In the realm of marketing, the first and paramount “P” signifies the concept of “Product.” This pivotal aspect pertains to the tangible or intangible offerings that a business presents to its discerning clientele, catering to their specific needs and desires. It encompasses not only the physical attributes but also the intangible elements like brand identity, perceived value, and customer experience.

Example: Taking the example of a smartphone, it represents a sophisticated product that seamlessly integrates diverse functionalities. This device not only facilitates communication but also provides internet access, multimedia entertainment, and numerous applications for enhanced convenience. The product goes through extensive design and development, blending innovative technology, svelte aesthetics, and user-friendly interfaces to draw in clients.

Additionally, ongoing research and development projects are carried out to develop new ideas, add new features, and enhance performance while being responsive to the perpetually shifting market demands. By understanding consumer preferences and positioning the product strategically, companies can effectively market it to a wide audience, fostering brand loyalty and staying ahead in the highly competitive business landscape. In essence, the success of any marketing endeavor hinges on the appeal, utility, and innovation of the product being offered.

Price

Price is the monetary evaluation bestowed upon a product or service, based on consumer behavior and market dynamics. The intricacies of pricing strategy are multifarious, necessitating an intricate interplay of supply-side considerations, demand elasticity, competitor analysis, and brand positioning.

Example: Illustrious and premium smartphone brands known for their innovative technology and superior craftsmanship, set a higher price to maintain an aura of exclusivity and allure to discerning customers seeking status and sophistication. Conversely, budget-friendly smartphone brands opt for more competitive pricing to cater to a broader audience, especially those who seek exceptional value within a more economical range. To enhance customer appeal and boost sales, strategic pricing tactics like limited-time discounts, bundled offerings, and financing options are employed.

Moreover, pricing flexibility over the product’s lifecycle and market dynamics ensures adaptability and market competitiveness. By astutely assessing market conditions, understanding consumer preferences, and carefully aligning pricing strategies with broader marketing objectives, smartphone companies can leverage the power of price to optimize profitability, solidify brand positioning, and establish a distinctive market presence.

Place

The “Place” aspect in marketing refers to the distribution or the place where the goods or services become accessible to the target demographic. It comprises the strategic choices implemented by businesses to ensure that the right clients receive their offers at the right moment and in the most feasible way.

Example: A leading smartphone company that designs cutting-edge devices with innovative features employ a multi-channel approach to effectively distribute their smartphones. Firstly, they establish their flagship stores and retail outlets in major cities and shopping centers, providing customers with hands-on experience and personalized assistance. Additionally, they collaborate with prominent telecommunications carriers to offer their smartphones through contract deals, making them more affordable and accessible to a broader audience.

The business collaborates with e-commerce platforms and online marketplaces to further extend its reach, making it simple and convenient for clients in far-off places to buy cell phones. Additionally, the brand exhibits its latest models to interested customers and tech experts at trade exhibitions and other events. This creates a buzz around their products and builds anticipation among the tech-savvy audience. By adopting such a comprehensive “Place” strategy, the smartphone company can effectively cater to diverse customer segments, offering a seamless experience across different touchpoints.

Promotion

The term “Promotion” in marketing refers to a wide range of strategies and initiatives adopted by businesses to foster consumer interest in, raise awareness of, and demand for their goods and services. This crucial aspect tries to convey to the target audience the distinctive value proposition of a brand and its offers.

Example: In the context of smartphones, promotion can encompass a variety of activities, such as advertising, public relations, sales promotions, and social media marketing. For instance, a smartphone company may launch a comprehensive advertising campaign across different media platforms, showcasing the unique features and capabilities of their latest smartphone model. They might collaborate with influencers or tech bloggers to review and endorse the product, generating organic buzz and word-of-mouth marketing.

The business could also provide time-limited discounts, trade-in offers, or integrated amenities to encourage prospective clients to make a purchase. Social media platforms could be used to interact with the audience, run competitions, and share user-generated material to foster an aura of community around the brand. The smartphone firm can successfully use these promotional techniques to boost brand awareness, draw in new clients, and ultimately enhance revenue, resulting in a profitable product launch and ongoing market success.

Other marketing mix models

Below mentioned alternative marketing mix models provide valuable perspectives for businesses to create comprehensive and customer-oriented marketing strategies that can lead to better customer engagement and overall business success.

7Ps of Marketing:

The 7Ps model extends the traditional 4Ps model by including three additional elements that are crucial for service-based businesses. In addition to Product, Price, Place, and Promotion, the 7Ps model adds:

People (referring to the staff and personnel)
Process (the procedures and systems involved in service delivery)
Physical evidence (the tangible aspects that support the service)

This model helps companies better understand the complexities involved in delivering services and highlights the importance of customer experience.

Also read: The 7 Ps of marketing model mix

4As of Marketing:

The 4As model focuses on understanding and meeting customer needs and desires effectively. It stands for:

Acceptability (ensuring the product/service meets customer needs)
Affordability (considering pricing that aligns with customers’ budgets)
Accessibility (ensuring the product/service is easily available to customers)
Awareness (creating awareness and communicating the benefits of the product/service to the target audience)

By prioritizing customer-centric elements, this model helps companies build strong connections with their customers and gain a competitive advantage.

4Cs of Marketing:

The 4Cs model shifts the focus from product-centric to customer-centric. It stands for:

Customer (understanding the needs and preferences of the target customers)
Cost (considering the total cost of ownership for customers),
Convenience (making the buying process easy and accessible for customers)
Communication (delivering marketing messages in ways that resonate with the target audience)

This model encourages businesses to tailor their marketing efforts to create a more customer-focused approach, ultimately enhancing customer satisfaction and loyalty.

Learn key marketing skills sitting at home with Online Manipal

The online MBA in Marketing offered by Manipal University Jaipur and Manipal Academy of Higher Education through Online Manipal helps aspiring marketers to embark on a transformative journey. MUJ and MAHE stand as beacons of educational prowess, imparting a multifaceted curriculum in MBA in Marketing that encompasses key marketing concepts and topics.

Embracing the power of technology, the platform of Online Manipal grants students the privilege of immersive learning, honing their analytical and creative skills from the comfort of their homes. Graduates emerge as proficient marketers, poised to drive innovation, create impactful campaigns, and tackle the challenges of an ever-evolving global marketplace with dexterity.

Also read: Important concepts to learn during an MBA in Marketing

Why pursue an online MBA?

An online MBA pursued through Online Manipal presents an array of compelling advantages that cater to the evolving needs of modern professionals. The foremost benefit lies in the flexibility it offers, empowering individuals to harmonize their academic pursuits with personal and professional responsibilities seamlessly. The online platform transcends geographical barriers, fostering a diverse and multicultural learning environment that enriches the exchange of ideas and perspectives.

Esteemed faculty members bring their expertise to the virtual classroom, ensuring a high-quality educational experience. Interactive sessions and collaborative projects enable active engagement and create networking avenues for students worldwide. Moreover, the digital infrastructure provides convenient access to an abundance of learning resources, making the online MBA an economically viable and ecologically conscious choice for ambitious individuals seeking career advancement.

Also read: Why choose an MBA in Marketing?

Conclusion

Mastering the 4Ps of Marketing is essential for any business looking to succeed in today’s competitive landscape. By understanding the significance of Product, Price, Place, and Promotion, marketers can create cohesive strategies that resonate with their target audience and drive meaningful results. We hope this guide has equipped you with the knowledge to develop professional and polished marketing plans that propel your business toward success. Remember, continually adapting and refining your strategies is critical to staying ahead in an ever-evolving market.

Also read: 8 reasons why marketing could be your dream career

How to start a career in performance marketing

Performance marketing is a type of marketing that focuses on using data-driven techniques to optimize marketing campaigns and drive measurable results. It offers many benefits for businesses and advertisers, including improved ROI, greater accountability, and the ability to reach and engage target audiences in real time. To succeed in a career in performance marketing, it is essential to have a strong understanding of digital marketing, a willingness to continuously learn and stay up-to-date with industry trends, and hands-on experience in the field.

Steps to start a career in performance marketing

To start a career in performance marketing, you need to get the basics right and also enhance your knowledge and skills to further excel in this domain. Here are the steps to start a career in performance marketing.

Learn performance marketing strategy

Familiarize yourself with the concepts and best practices of digital marketing, including performance marketing, search engine optimization (SEO), search engine marketing (SEM), data analysis, email marketing, and more.

Acquire the right skills

To become a performance marketer, you need to gain key skills like SEO, analytical skills, creativity, and social media marketing. These skills will help you build a lucrative career in digital marketing.

Get hands-on experience

Once you have learned the basics, you need to work on real-time projects and apply your knowledge practically. You can take up internships or any opportunity that will give you experience in this field.

Keep pace with trends

The field of performance marketing is constantly evolving, so it is essential to continuously learn and stay informed of new developments and best practices.

Apply to jobs and prepare for interviews

Once you have the right knowledge and skills, you can start applying for jobs based on your interest and profile. Look up for possible interview questions and make sure you are well prepared to answer them.

Also read: Top digital marketing interview questions

Learn to use digital marketing tools

Learning Google Analytics as a digital marketer is a must. However, apart from Google Analytics, you must learn other tools. Tools allow you to find trends and meaningful reports to management or clients.

Importance of performance marketing

Performance marketing career prospects are enormous. One should have a good understanding of digital marketing concepts and a solid foundation in data analysis and measurement foundation to get into it. Familiarity with performance marketing tools and platforms, such as Google Analytics, and a willingness to continuously learn and adapt to new technologies are also essential. To help you better understand the field, here are some significant benefits of performance marketing.

Measurable results

Performance marketing provides a clear and quantifiable measure of success, allowing advertisers to accurately track their return on investment (ROI).

Targeted audience

Performance marketing enables advertisers to reach their target audience more effectively, as campaigns can be optimized and refined based on real-time data.

Real-time optimization

Performance marketing allows for real-time optimization and refinement of campaigns, which helps maximize return on investment.

Increased efficiency

Performance marketing skills automate many aspects of the advertising process, leading to increased efficiency and reduced costs.

Improved customer experience

Performance marketing certification allows advertisers to tailor their messaging and offerings to the specific needs and interests of their target audience, leading to a better customer experience.

Data-driven decision-making

Performance marketing provides advertisers with valuable data and insights about their target audience, which can inform future marketing strategies and business decisions.

Cost-effectiveness

Performance marketing is typically based on a cost-per-action (CPA) model, meaning advertisers only pay for actual results and avoid paying for exposure.

Versatility

Performance marketing can be applied across various industries and business models, making it a versatile and practical marketing approach.

What are performance marketing channels?

The following is a list of effective performance marketing channels.

Search engine marketing

Search engine marketing (SEM) employs paid advertisements that display on search engine results pages (SERPs). Advertisers compensate for keywords that individuals input into search engines while seeking a business, product, or service. These advertisements are referred to as pay-per-click ads, resembling performance marketing, where payment occurs solely upon a user’s interaction via clicking the ad.

Affiliate marketing

Affiliate marketing is among the most efficient performance marketing channels to boost user growth and engagement. This channel involves partnering with other websites to promote a product or service, with the affiliate being compensated for each sale or lead generated.

Cost-per-action (CPA) advertising

This channel involves paying for specific actions, such as sales or leads, rather than just exposure to a marketing message.

Influencer marketing

This channel involves partnering with social media influencers to promote a product or service to their followers. With the advent of technology and social media, influencer marketing has proven to pave the way for lead generation.

Email marketing

This channel uses email to promote a product or service and drive conversions.

Each of these channels has its own unique strengths and best practices, and the choice of the channel will depend on the specific goals and needs of the advertiser. To maximize the effectiveness of performance marketing, advertisers often use a combination of channels to reach their target audience and achieve their desired results.

Also read: How to get a job in the marketing sector

Pursue an online MBA in marketing from the renowned Manipal University Jaipur

The marketing domain offers a wide range of job opportunities, and pursuing an online MBA in marketing from a renowned university such as Manipal University Jaipur, can help you further your career in this field. With an MBA in marketing, you will gain a comprehensive understanding of marketing concepts, theories, and best practices, as well as practical experience in applying these skills to real-world marketing challenges.

Additionally, focusing on marketing electives within your MBA program can help you gain a deeper understanding of the most important marketing concepts, including performance marketing, consumer behavior, and data analysis. These skills will be invaluable in a career in marketing, as they will help you make data-driven decisions and effectively reach and engage your target audience.

Overall, an online MBA in marketing from Manipal University Jaipur, can provide you with the skills, knowledge, and experience you need to succeed in a career in marketing and make a significant impact in the industry.

Conclusion

Performance marketing is a valuable and growing field within the marketing industry that offers numerous benefits to businesses and advertisers. To establish a career in performance marketing, it is essential to develop a strong understanding of digital marketing, gain experience, stay up-to-date with industry trends, and network with other professionals in the field.

Pursuing an online MBA in marketing from Manipal University Jaipur, can provide a comprehensive education in marketing and business as well as the opportunity to specialize in marketing and gain valuable skills and experience. Whether you are just starting in your career or looking to make a change, performance marketing offers a promising and rewarding path for those with a passion for marketing and a drive to succeed.

Advance your career in operations management with an online MBA

In today’s continuously changing business world, operations management is critical to an organization’s success and efficiency. Operations managers are in charge of managing the manufacturing process, maintaining seamless supply chain operations, and optimizing resources to meet the company’s goals. Individuals with outstanding problem-solving abilities, attention to detail, and a passion for process optimization might find a fulfilling career in operations management.

Obtaining a Master of Business Administration (MBA) with an emphasis on operations management is one of the most efficient strategies to improve your chances in this area. This article discusses how an online MBA in operations management may greatly boost your career and prepare you to flourish in this competitive market.

Also read: Job roles in MBA Operations Management

Why choose a career in operations management?

There are several compelling reasons to consider a career in operations management:

Dynamic industry: Operations management offers a fast-paced and ever-evolving work environment, making it suitable for individuals who seek variety and excitement in their careers.

Job growth: The demand for skilled operations managers continues to rise, especially in sectors like manufacturing, logistics, healthcare, and technology.

Diverse opportunities: Operations management professionals can find employment across a wide range of industries, from retail and finance to transportation and consulting.

Impactful role: Operations managers have a direct impact on a company’s productivity, cost efficiency, and customer satisfaction, making their roles highly influential within the organization.

Problem-solving: If you enjoy tackling complex challenges and finding innovative solutions, operations management offers ample opportunities to showcase your problem-solving abilities.

Leadership Development: Working in operations management provides the chance to develop leadership skills and manage teams to achieve common goals.

How an MBA in operations management helps advance your career

Pursuing an MBA with a focus on operations management can be a game-changer for your career advancement. Here are some ways it can help:

Specialized knowledge: An MBA program specializing in operations management equips you with comprehensive knowledge of supply chain management, quality control, process optimization, project management, and more. This expertise makes you a valuable asset to any organization.

Decision-making skills: Through case studies and real-world simulations, an MBA hones your critical thinking and decision-making abilities, allowing you to make strategic choices that drive operational efficiency.

Networking opportunities: Online MBA programs offer excellent networking opportunities, allowing you to connect with industry professionals, potential employers, and fellow students, leading to valuable collaborations and career prospects.

Operations leadership training: Aspiring operations managers will benefit from courses tailored to enhance leadership skills, team management, and communication, which are essential for leading teams effectively.

Global perspective: An online MBA in operations management often offers a global perspective, exposing you to international business practices and cross-cultural management, which is vital in today’s interconnected world.

Career advancement: Many organizations prefer promoting employees with advanced degrees such as an MBA, making it a catalyst for career growth and increased earning potential.

Also read: How will an MBA in Operations Management benefit engineers?

What do you learn in an MBA in operations management course?

In an MBA program specializing in operations management, you can expect to learn a variety of concepts and skills, including:

Supply chain management: Understanding how to manage the flow of goods and services from production to distribution, optimizing efficiency, and reducing costs.

Process improvement: Learning various methodologies like Six Sigma and Lean Management to identify and eliminate inefficiencies in processes, leading to enhanced productivity.

Project management: Acquiring skills to plan, execute, and monitor projects effectively, ensuring they are completed on time and within budget.

Quality control: Studying techniques to maintain and improve product and service quality, ensuring customer satisfaction and loyalty.

Inventory management: Learning strategies to manage inventory levels efficiently, preventing stock outs while minimizing carrying costs.

Data analytics: Gaining proficiency in using data analytics tools to analyze operational data and make data-driven decisions.

Risk management: Understanding how to identify potential risks in operations and developing strategies to mitigate them effectively.

Also read: Important concepts to learn during an MBA in Operations Management

Level up your career in operations management with Manipal University Jaipur’s online MBA

Manipal University Jaipur’s online MBA in operations management offers a well-rounded curriculum designed to empower aspiring operations managers. The program provides the flexibility to study at your own pace, allowing you to balance work, personal commitments, and education seamlessly. With experienced faculty and industry-relevant coursework, students gain practical insights into the latest trends and best practices in operations management.

Also read: How to become an Operations Manager?

Through interactive virtual classrooms and collaborative projects, you will have the opportunity to develop essential leadership and team management skills, fostering a strong sense of adaptability and resourcefulness. The program’s emphasis on real-world applications ensures that you can immediately apply the knowledge and skills acquired during your studies to your current job or any future managerial role.

Additionally, Online Manipal provides a conducive environment to cultivate a global perspective by connecting with students and professionals from various cultural backgrounds and industries. As a student of Manipal University Jaipur’s online MBA program, you will also have access to a range of career support services, including resume-building, skill development programs, mock interviews, and placement drives. The university’s vast alumni network across different sectors, can further facilitate valuable mentorship and career guidance.

Conclusion

An online MBA in operations management can serve as a stepping stone to a successful and fulfilling career in the field. The specialized knowledge, leadership training, and networking opportunities provided by an MBA program equip you to tackle the challenges of the modern business landscape. As the demand for skilled operations managers continues to grow, earning an online MBA can significantly enhance your career prospects and open doors to exciting opportunities in diverse industries. So, if you aspire to lead teams, optimize processes, and make a significant impact on an organization’s success, consider advancing your career in operations management with an online MBA.

Also read: Operations Manager job role interview questions

Curating a career in marketing

Upskilling to stay updated

Realising dreams

“Reading books created an inquisitiveness about spirituality”

“Monkhood introduced me to a disciplined lifestyle”

“Going back to materialistic life was not very easy”

“I used my existing skills to build on my career”

“I was losing opportunities because I didn’t have a degree”

“I chose Online Manipal for the brand value”

Wrapping up

Key subjects you will learn in MBA in Marketing

Core subjects in MBA Marketing

General subjects in MBA Marketing

Critical topics one needs to learn during an MBA in Marketing

Retail marketing

Brand equity

Digital marketing

Consumer behavior

Search engine marketing (SEM)

Advertising and sales promotion

7 Ps of marketing

Data analytics

AIDA model

Careers after MBA in Marketing

Product Manager

Brand Manager

Sales Manager

Business Development Manager

Digital Marketing Manager

Elevate your marketing career with Online Manipal

What is marketing analytics?

Benefits of marketing analytics

Understanding consumer behavior

Making informed decisions

Integrating marketing data for comprehensive analysis

Enhancing brand awareness

Staying ahead of competition

Application of marketing analytics with examples

Use of marketing analytics to improve its website

Using marketing analytics to make content recommendations

Customer insights

Marketing analytics skills

Data analysis

Analytics tools

Spreadsheet skills

Data visualization

Careers in marketing analytics

Marketing analytics tools

Google Analytics

Semrush

MixPanel

Heap Analytics

Cyfe

How does marketing analytics help businesses?

Bottom line

Understanding the BCG Growth-Share Matrix

The 4 quadrants on BCG Growth Share Matrix

Benefits of a BCG matrix

Maslow’s Hierarchy of Needs theory

Physiological needs

Safety needs

Love and belongingness needs

Esteem needs

Self-actualization needs

Maslow’s expanded Hierarchy of Needs

Growth needs vs. deficiency needs

Conclusion

What are Porter’s five forces?

Competitive rivalry

Supplier power

Buyer power

Threat of substitution

Threat of new entry

Significance of Porter’s 5 forces model

How to apply Porter’s 5 forces model?

Improve your marketing knowledge through Online Manipal

Conclusion

What are the 4Ps of marketing?

Detailed explanation of the 4PS of marketing with examples

Product