Marketing

Definition: The Mark-up pricing is the method of adding a certain percentage of a markup to the cost of the product to determine the selling price. In order to apply the mark-up pricing, firstly, the companies must determine the cost of a product and decide on the amount of profit to be earned over and above it and then add that much markup in the cost. Let's … [Read more...] about Mark-up Pricing

Definition: The Differential Pricing is a method of charging different prices for the same type of a product, and for the same number of quantities from different customers based on the product form, payment terms, time of delivery, customer segment, etc. The companies adopt the differential pricing method with an objective to maximize the profit of an organization. This … [Read more...] about Differential Pricing

Definition: The Market Challenger Strategies are the marketing strategies adopted by the firms, either occupying the third or runners-up position in the market, to attack the leader or the immediate competitor with the intention to capture a greater market share and earn huge revenues. Generally, the market challengers are those firms, which have a good reputation in the … [Read more...] about Market Challenger Strategies

Definition: The Straddle Positioning is one of the positioning strategy adopted by the marketers to position their product in two categories simultaneously. In other words, the positioning strategy adopted to create a dual image of the product in the minds of the customer is called as Straddle positioning. In straddle positioning, the marketers use the blend of POP … [Read more...] about Straddle Positioning

Definition: The Captive Product Pricing is the pricing strategy adopted by the marketers wherein, the price of the core product is generally kept low, whereas the captive products are highly priced. The Captive Products are the products that are specifically designed to be used with the core products, or these products are necessary for the functioning of the core … [Read more...] about Captive Product Pricing

Definition: The Channel Power refers to the ability of any one channel member to alter or modify the behavior of other members in the distribution channel, due to its relatively strong position in the market. Generally, the manufacturers are seen, dominating the behavior of other channel partners and influencing their actions according to its requirements. Types of Channel … [Read more...] about Channel Power

Definition: The Brand Resonance refers to the relationship that a consumer has with the product and how well he can relate to it. The brand resonance begins with: Brand Identification: The first and foremost step, is to ensure the brand identification with the customers, i.e. creates awareness about the product and establish an association in the minds of customers with … [Read more...] about Brand Resonance

Definition: The Mobile Marketing refers to the marketing activities undertaken to reach the consumers directly via mobile phones, connected to a ubiquitous network, to which the consumers are frequently connected. With the advent of the smartphones, well compatible with the internet connection, the companies have started to send the videos, audio clips, images of their … [Read more...] about Mobile Marketing

Definition: The Rural Marketing refers to the activities undertaken by the marketers to encourage the people, living in rural areas to convert their purchasing power into an effective demand for the goods and services and making these available in the rural areas, with the intention to improve their standard of living and achieving the company’s objective, as a whole. The … [Read more...] about Rural Marketing

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