The terms 'Market Research' and 'Marketing Research' are often loosely used to have the same meaning. But there is a distinction between the two. Marketing research is concerned with the entire sphere of distribution while Market Research only deals with the problem of the market in the narrow sense of the term. The essential task of Marketing Research is that [...]
"Sales management" originally referred to the designing, planning and directing sales force personnel to achieve the organizational objectives. In the words of Rachman and Romano, "Sales management includes recruiting, selecting, training, supervising, motivating and evaluating the sales force." Learn about:- 1. Introduction to Sales Management 2. Meaning of Sales Management 3. Definitions 4. Objectives 5. Importance 6. Functions 7. Role [...]
A product consists of a bundle of utilities involving various product features and accompanying services. These utilities are created by a set of tangible, physical and chemical attributes assembled in an easily identifiable form. The product has a descriptive name and a brand name for easy identity. A product can range from being a high-end customized offer like Ferrari Cars [...]
Marketing planning is the starting point of any business activity. Planning is deciding at present what is to be done in the future. It involves not only anticipating the consequences of decisions but also predicts the events that are likely to affect the business. The marketing planning, can be thought of as the practical application of your marketing strategy. It [...]
Retailing has become such an intrinsic part of our everyday lives. All developed nations has strong organized retail sector. Retailing in India is the largest industry accounting 10- 11 per cent of GDP. Organized retail is only 2-3 per cent of total retailing. India has largest number of retailers about 12 million and having around 5 million retailers. Retailing includes [...]
Branding literary means 'creating an identity'. Ranchers having hoards of cattle used to create the identity of their cattle by marking them in such a way that thieves could not remove the marks and destroy their identity. This was called branding. Normally, branding used to be done by burning the skin of cattle with a logo. Branding is the process [...]
Marketing communication involves sharing of meaning, information and concepts by the source and the receiver about products and services and about the firm selling them. Marketing communication is undertaken by marketer through the devices of promotion. We have different types of communication to accelerate the spreading over of marketing communication. Learn about:- 1. Introduction and Meaning to Marketing Communication 2. [...]
Pricing method is the method followed in determining the price of a product. Pricing method must be appropriate in achieving the pricing objectives. There are many methods of pricing and each one of them is appropriate for achieving a particular pricing objective or combination of pricing objectives. The three major categories of methods used to establish product prices are cost-oriented [...]
Marketing occupies an important position in the organisation of a business unit. As traditionally defined, “marketing consists of those efforts which effect transfers in ownership of goods and care for their physical distribution.” It is the process by which products are made available to the ultimate consumers from their point of origin. It consists of all those activities which are [...]
New Product Development is the process of designing, building, operating, and maintaining a good or device. Software and internet companies use a product development process to ensure that they are not just manufacturing a technology, but creating a product that people will want to buy and continue to use. New product development is development of altogether new product so far [...]