Definition: The Product Life Cycle means the sequence of stages that every product progresses through until it reaches the stage where it is finally abandoned or discontinued from the market. In other words, the life of a product is finite and advances through several stages i.e. from the introduction to growth, maturity and decline which are associated with the changes in … [Read more...] about Product Life Cycle
Promotional Planning Process
Definition: The Promotional Planning is a process of optimizing the utilization of marketing tools, strategies, resources to promote a product and service with the intent to generate demand and meet the set objectives. Promotional Planning Process The Sales Promotional Planning Process is comprised of following steps: Problem Definition: First of all, the management … [Read more...] about Promotional Planning Process
Kinds of Promotion
Definition: The Promotion is a mode of communication that companies use to create awareness among the prospective customers about the product, product line, brand and the company with an objective to generate sales and create a brand loyalty. The companies having different objectives choose different kinds of promotion. These are: Informative Promotion: … [Read more...] about Kinds of Promotion
Product Promotion
Definition: The Product Promotion means disseminating the information about the product, product line, brand and company to the prospective buyers with the intent to generate sales and develop a brand loyalty. The Promotion is the fourth element of the marketing mix (Viz. Product, price, place, promotion) which is considered as a mode of communication that business adopts … [Read more...] about Product Promotion
Factors Affecting Promotion Mix
Definition: The Promotion Mix is the blend of several promotional activities (Advertising, personal selling, sales promotion, public relations, direct marketing) used by business to create, maintain and increase the demand for a product. The management must consider the following factors in determining the promotion mix, these are: Nature of Product: The different … [Read more...] about Factors Affecting Promotion Mix
Residuary Non-Banking Company
Definition: The Residuary Non-Banking Company is yet another form of a financial institution engaged in the principal business of accepting deposits, under any scheme or arrangement or in any other form and not being asset financing, investment, loan company. Simply, the Residuary Non-Banking Company primarily deal in accepting deposits in any form and investing these in the … [Read more...] about Residuary Non-Banking Company
Chit Fund Company
Definition: The Chit Fund Company is a financial institution engaged in the principal business of managing, conducting and supervising the chit scheme. The “Chit” is the financial arrangement wherein a certain number of persons/subscribers enter into an agreement that subscribes to a certain sum of money by way of installments over a definite period of time. Each subscriber … [Read more...] about Chit Fund Company
Housing Finance Company
Definition: The Housing Finance Company is yet another form of non-banking financial company which is engaged in the principal business of financing of acquisition or construction of houses that includes the development of plots of lands for the construction of new houses. The Housing Finance Company is regulated by the National Housing Bank. Any non-banking finance company … [Read more...] about Housing Finance Company
Non-Banking Financial Company-Factors
Definition: The Non-Banking Financial Company-Factors (NBFC-Factors) is yet another financial company that deals in the principal business of Factoring. The Factoring is a financial transaction wherein the company sells its bills receivables i.e. invoices to a third party called as “factor” at a discount. As per the RBI, the company can be registered as a non-banking … [Read more...] about Non-Banking Financial Company-Factors
Systematically Important Core Investment Company
Definition: The Systematically Important Core Investment Company (CIC-ND-SI) is a financial company that is principally engaged in the business of acquisition of shares and securities. As per the RBI guidelines, the non-banking financial company is recognized as a systematically important core investment company if it satisfies the following conditions: At least 90% of … [Read more...] about Systematically Important Core Investment Company