Definition: Warehousing can be defined as the systematic process of storing and preserving goods on a large scale in a warehouse, godown and facility from the moment goods are produced, and making them available when they are demanded, i.e. for sale, distribution and consumption. Warehousing encompasses making proper arrangements so as to keep the goods safe, i.e. in an … [Read more...] about Warehousing
Types of Consumer Behavior
Definition: Consumer Behaviour is the sum total of the decision taken by the consumers concerning the search, selection, purchase, usage, evaluation and disposal of the product and service, which are expected to satisfy their needs. In simple words, consumer behaviour can be defined as the conduct of the individual directly concerned with making decisions as to the investing … [Read more...] about Types of Consumer Behavior
Prospecting
Definition: In the process of sales, prospecting accounts for the first step that involves finding out promising customers, i.e. prospects, from the pool of leads, so as to locate the qualified potential buyer. It aims at creating a directory of potential customers and communicating with them in an orderly manner, so as to convert them into actual customers. Basically, … [Read more...] about Prospecting
Media Planning
Definition: Media Planning can be defined as the systematic process of deciding a course of action, with regard to the advertising time, media and space, selected to achieve the marketing objectives. In this, the marketer ascertains when, which, where, and how frequently, an advertisement will be aired, so as to increase customer engagement and return on investment. Media … [Read more...] about Media Planning
Trade Show
Definition: Trade show is a sort of business exhibition wherein members of the industry, or a particular segment of the industry, showcase, and discuss, their brand new products and services which are ready to launch in the market. These are sponsored by the trade associations of the concerned industry, in an attempt to create excitement in the market, regarding the new … [Read more...] about Trade Show
Product Positioning
Definition: Product Positioning, as the name suggests, entails selecting the position in the target market (its niche), that the product or service, attempts to occupy. It is how the ultimate consumer views or perceives, a product, in relation to its competitors. Basically, it's a process of setting the locus of the product in the minds of the target audience. Therefore, the … [Read more...] about Product Positioning
Cross-Selling
Definition: Cross-Selling can be understood as the selling method intended to increase the sales by encouraging a customer to buy more items which are related, connected or complementary to the main product, which is just bought by the customer. It is probably, one of the best marketing strategies of time, which has helped in adding revenue to the business, by pushing … [Read more...] about Cross-Selling
Niche Market
Definition: Niche Market can be defined as that particular segment or subset of a bigger market, which caters to a specific group of people having common likings and demand. The market has its own distinctive set of needs, preferences or identity, making it unrelated from the traditional market. Basically, a niche market is made up of that segment of consumers within the … [Read more...] about Niche Market
Green Marketing
Definition: Green Marketing is a relatively new concept, which involves the promotion of products and services which are safe for the environment. It involves development, manufacturing, promotion, distribution, consumption, and disposal of the products and services in a sustainable fashion so that least damage is caused to nature. In this way, the marketing of the company's … [Read more...] about Green Marketing
Bill of Lading
Definition: Bill of Lading is an important document, required to ship goods from one point to another. The carrier generates and issues a bill of lading to the shipper of the goods, acknowledging the receipt of goods for shipment in acceptable condition. In simple words, the bill of lading is written evidence of a contract between shipper and carrier for the carriage and … [Read more...] about Bill of Lading