Definition: The Sales Audit is the comprehensive, systematic, periodic, analysis, evaluation and interpretation of business environment, objectives, strategies, principles to determine the areas of problem or opportunities and recommending the plan of action to improve the sales performance. The sales audit is performed by the sales auditor, who can be from within the … [Read more...] about Sales Audit
Promotion Mix
Definition: The Promotion Mix refers to the blend of several promotional tools used by the business to create, maintain and increase the demand for goods and services. The fourth element of the 4 P’s of Marketing Mix is the promotion; that focuses on creating the awareness and persuading the customers to initiate the purchase. The several tools that facilitate the promotion … [Read more...] about Promotion Mix
Guerrilla Marketing
Definition: The Guerrilla Marketing is the strategy adopted by the firms to push their products in the market by using both the conventional and nonconventional means, with the intention to harass or demoralize the competitor. The guerrilla marketing is the low-cost or no cost, strategy that can reap greater benefits if applied correctly. The companies adopt this strategy to … [Read more...] about Guerrilla Marketing
Electronic Retailing
Definition: The Electronic Retailing also called as e-tailing or internet retailing, is the process of selling the goods and services through electronic media, particularly the internet. Simply, the sale of retail goods and services online is called as electronic retailing. It follows the B2C business model wherein the business interacts directly with the customers without … [Read more...] about Electronic Retailing
Marketing Audit
Definition: The Marketing Audit refers to the comprehensive, systematic, analysis, evaluation and the interpretation of the business marketing environment, both internal and external, its goals, objectives, strategies, principles to ascertain the areas of problem and opportunities and to recommend a plan of action to enhance the firm’s marketing performance. The marketing … [Read more...] about Marketing Audit
International Marketing
Definition: The International Marketing is the application of marketing principles to satisfy the varied needs and wants of different people residing across the national borders. Simply, the International Marketing is to undertake the marketing activities in more than one nation. It is often called as Global Marketing, i.e. designing the marketing mix (viz. Product, price, … [Read more...] about International Marketing
Relationship Marketing
Definition: The Relationship Marketing refers to the activities undertaken by the firm to establish and maintain the profitability and the long-term relationship with the customers. The Relationship marketing differs from the Traditional marketing in the sense that the former rely heavily on the customer retention and their satisfaction, that results in the long term … [Read more...] about Relationship Marketing
Test Marketing
Definition: The Test marketing is a tool used by the companies to check the viability of their new product or a marketing campaign before it is being launched in the market on a large scale. The market test is generally carried out to ascertain the probable market success in terms of new product’s performance, the level of acceptance of the product, customer satisfaction, … [Read more...] about Test Marketing
Sales Force Automation
Definition: The Sales Force Automation, abbreviated as SFA, refers to the technique wherein the software are used to automate the business tasks such as inventory control system, account management, process management, contact management, customer tracking, sales funnel management, sales forecasting analysis, product knowledge, sales lead tracking system, sales team performance … [Read more...] about Sales Force Automation
Buzz Marketing
Definition: The Buzz Marketing is the practice of creating an excitement among the users and the consumers about a particular product, service, brand or the company. It is one of the forms of Word- of-Mouth, wherein the users give a buzz i.e. create a hype among the consumers about a product or service they have recently experienced. The Buzz can be both online and off- … [Read more...] about Buzz Marketing