Direct Marketing

Direct marketing is a database-driven process of directly communicating with targeted customers or prospects using any medium to obtain a measurable response or transaction via one or multiple channels. Direct marketing involves direct contact with the customer, but to achieve that, companies must invest in updated databases and must maintain measurable responses from customers. Thus, […]

Management Information System

Management Information System (MIS) is a system by which information is collect¬≠ed, processed and presented to management with a view to improve the quality of decisions. The emphasis of MIS is on information for decision-making. Though MIS was originally developed for large businesses, it has application in all types of organisations. Management Information System (MIS) […]

Demand Forecasting

Demand forecasting is the task of projecting the future demand of a firm. The demand forecast indicates how much of a product is likely to be sold during a specified future period in a specified market, at specified prices. Demand forecasting serves as the starting point for practically each and every activity. It enables the […]

Integrated Marketing Communication

Integrated Marketing Communications (IMC) is a process for managing customer relationships that drive brand value primarily through communication efforts. Such efforts often include cross-functional processes that create and nourish profitable relationships with customers and other stakeholders by strategically controlling or influencing all messages sent to these groups and encouraging data-driven, purposeful dialog with them. IMC […]

Types of Advertising Media

There are many choices available to the advertiser for the media. Effectively mixing these media is an important part of designing quality advertising. To do so the advantages and disadvantages of each individual medium should be understood so that the advertising campaign features successful combinations. ¬† Some of the types of advertising media are:- 1. […]

Collective Bargaining

Collective Bargaining is the process whereby workers organize collectively and bargain with employers regarding the workplace. In various national labour and employment law contexts collective bargaining takes on a more specific legal meaning. In a broad sense, however, it is the coming together of workers to negotiate their employment. Collective bargaining is specifically an industrial […]

Marketing Concept

Marketing concept is customer orientation backed by integrated marketing aimed at generating customer satisfaction as the key to satisfying organisational goals”. “The marketing concept is a corporate state of – mind that insists on the integration and co-ordination of all marketing functions, which in turn are welded with all the other corporate functions, for the […]

Market Segmentation

Market segmentation is the process of partitioning markets into groups of potential customers with similar needs or characteristics who are likely to exhibit similar purchase behaviour. Market segmentation represents an important recent advance in marketing thinking and strategy. In earlier years many business firms saw the key to profits to be in the development of […]

Marketing Environment

The market environment is a marketing term and refers to factors and forces that affect a firm’s ability to build and maintain successful relationships with customers. Three levels of the environment are – [a] Micro (internal) environment – small forces within the company that affect its ability to serve its customers, [b] Meso environment – […]

Employee Counselling

Counselling has been defined as a process which takes place in one-to-one relationship between an individual beset by problems with he cannot cope alone and a professional worker whose training and experience have qualified him to help other reach solutions to various types of personal difficulties. Counselling refers to the provision of professional assistance and […]

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