Definition: Horizontal Marketing System or HMS is a distribution system wherein two or more firms join hands to combine their efforts to maximize marketing opportunities. Generally, companies set up horizontal marketing systems when they look forward to achieving synergy in marketing, production or distribution. They also use this system when they do not have sufficient … [Read more...] about Horizontal Marketing System
Vertical Marketing System
Definition: Vertical Marketing System or VMS comprises producers, wholesalers and retailers that work as a combined system. Of the various channel members, one comes out as channel captain and the rest of the members either: Agree to follow the captain in sales, delivery and service or Franchises them or Has sufficient power to convince or force other members to … [Read more...] about Vertical Marketing System
Sampling Plan
Definition: A sampling plan provides an outline based on which the researcher performs research. Also, it provides a sketch required for ensuring that the data gathered is a representation of the defined target population. It is widely used in research studies. A researcher designs a sampling plan to prove that the data collected is valid and reliable for the concerned … [Read more...] about Sampling Plan
Market Intelligence System
Definition: Market Intelligence System is an array of procedures and sources that the management uses to gain knowledge pertaining to the happenings in the marketing environment. In short, it focuses on the systematic collection and processing of information from all the relevant sources to ascertain the changing trends in the marketing environment. In this system, once the … [Read more...] about Market Intelligence System
Holistic Marketing
Definition: Holistic Marketing is a concept, that considers business as one entirety. As per this approach, the business is treated as a whole wherein all the departments viz. R&D, Marketing, Finance and HR are integrated and work as a group towards the marketing and sale of a product. As a result, it proposes a shared aim and goal for all the activities and for every … [Read more...] about Holistic Marketing
Income Tax Return (ITR)
Definition: An Income Tax Return (ITR), is a form submitted to report the annual income and taxes payable for the previous year of the taxpayer. The taxpayers file ITR with the Income Tax Department. The assessee needs to furnish the details of taxable income or loss to the Income Tax Department. Such details are conveyed by way of return of income. With this form, the … [Read more...] about Income Tax Return (ITR)
Income Tax
Definition: In the simplest sense, income tax is a tax imposed on the income of persons, earned by them in the previous year. It is a composite tax on the total of income derived from multiple sources. To compute the tax, income is classified into different slabs and tax is charged as per the rate of the concerned slab. It is majorly classified into: Personal Income Tax: … [Read more...] about Income Tax
NEFT Transaction Timings
When it comes to NEFT transaction timings there is no specific timing during the course of which you can transfer your money. This means that this facility is available round the clock. Moreover, NEFT is the easiest and most convenient way of transferring funds. This is a payment system which the country's central bank owns and operates. And apart from fund transfer, one can … [Read more...] about NEFT Transaction Timings
National Electronic Funds Transfer (NEFT)
Definition: NEFT expands to National Electronic Fund Transfer is a facility that banks provide to its customer. The central bank of India has started this online payment system in November 2005. Using this facility, a person can transfer funds online from one NEFT-enabled bank account to another. It allows near real-time transfer of funds to the beneficiary account. Also, it … [Read more...] about National Electronic Funds Transfer (NEFT)
Company Secretary (CS)
Definition: Company Secretary (CS) refers to an individual who is a member of ICSI and possesses the requisite qualifications as stated under the law. His/Her position in the organizational hierarchy is pivotal. A CS occupies a high status and position in an organization. To be specific, his/her position is almost equivalent to managing director or general manager. The … [Read more...] about Company Secretary (CS)