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
Marketing Information System
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
Marketing Research
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
Marketing Communication
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
M-Commerce
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