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

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

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

Definition: The Marketing Information System refers to the systematic collection, analysis, interpretation, storage and dissemination of the market information, from both the internal and external sources, to the marketers on a regular, continuous basis. The marketing information system distributes the relevant information to the marketers who can make the efficient … [Read more...] about Marketing Information System

Definition: The Marketing Research is the systematic collection, analysis, and interpretation of data pertaining to the marketing conditions. The basic reason for carrying out the marketing research is to find out the change in the consumer behavior due to the change in the elements of the marketing mix (product, price, place, promotion). The marketers need to know about … [Read more...] about Marketing Research

Definition: The Marketing Communication refers to the means adopted by the companies to convey messages about the products and the brands they sell, either directly or indirectly to the customers with the intention to persuade them to purchase. In other words, the different medium that company adopts to exchange the information about their goods and services to the customers … [Read more...] about Marketing Communication

Definition: M-Commerce also called as Mobile Commerce involves the online transactions through the wireless handheld devices such as mobile phone, laptop, palmtop, tablet, or any other personal digital assistant. It does not require the user to sit at the computer that is plugged in and perform the commercial transactions. Through M-Commerce, people can perform several … [Read more...] about M-Commerce

Definition: The Channel Conflict arises when the channel partners such as manufacturer, wholesaler, distributor, retailer, etc. compete against each other for the common sale with the same brand. In other words, there is a conflict among the channel partners when one prevents the other from achieving its objective. It results in a huge loss for all the partners in the … [Read more...] about Channel Conflict Management

Definition: The Pricing Methods are the ways in which the price of goods and services can be calculated by considering all the factors such as the product/service, competition, target audience, product’s life cycle, firm’s vision of expansion, etc. influencing the pricing strategy as a whole. The pricing methods can be broadly classified into two parts: Cost Oriented … [Read more...] about Pricing Methods

Definition: Pricing is the method of determining the value a producer will get in the exchange of goods and services. Simply, pricing method is used to set the price of producer’s offerings relevant to both the producer and the customer. Every business operates with the primary objective of earning profits, and the same can be realized through the Pricing methods adopted by … [Read more...] about Pricing in Marketing