Definition: Marketing control refers to the measurement of the company's marketing performance in terms of the sales revenue generated, market share captured, and profit earned. Here, the actual result is compared with the standard set, to find out the deviation and make rectifications accordingly. Marketing is one of the crucial functions of any organization. Therefore, the … [Read more...] about Marketing Control
Marketing
Channel Conflict
Definition: Channel conflict can be explained as any dispute, difference or discord arising between two or more channel partners, where one partner's activities or operations affect the business, sales, profitability, market share or similar goal accomplishment of the other channel partner. As we know that every manufacturing company needs to plan its distribution and … [Read more...] about Channel Conflict
Theories of Selling
Definition: The theories of selling implies to the behaviour of the salesperson towards the prospect or the customer, which ensures the effective sale of goods or services. The selling theories gained significance due to the emerging role of the salesperson in marketing since in the present era a seller acts as a marketer too. Building a strong relationship with the … [Read more...] about Theories of Selling
Service Marketing
Definition: Service marketing refers to the application of a different set of tactics or strategies to anticipate the consumer's need for an intangible product and meet their requirements accordingly, to create maximum value for them from their purchase. The marketing of services is different from the marketing of products. While selling off services, convincing the … [Read more...] about Service Marketing
Wheel of Retailing
Definition: The wheel of retailing refers to a hypothesis, which depicts the life cycle of a retail organization, where it starts as a discount retail business to attract price-sensitive consumers and then gradually converts into a luxury brand store or departmental store to cater high-end consumers. Prof. Malcolm Perrine McNair proposed this theory in the year 1931. He … [Read more...] about Wheel of Retailing
Marketing Information System
Definition: The marketing information system refers to the use of technology for the arrangement of the relevant data related to the market, sales, promotion, price, competition and allocation of goods and service. This information is acquired after a proper analysis and understanding of the marketing environment to ensure effective decision making in the organization. It … [Read more...] about Marketing Information System
Global Retailing
Definition: Global retailing is the concept of selling products (i.e., goods and services) across the geographical boundaries of a country to the consumers available in the different parts of the world to attain global presence and recognition and to capture the opportunities prevailing in the potential overseas markets. The concept of global retailing is widely adopted … [Read more...] about Global Retailing
Scaling Techniques
Definition: Scaling technique is a method of placing respondents in continuation of gradual change in the pre-assigned values, symbols or numbers based on the features of a particular object as per the defined rules. All the scaling techniques are based on four pillars, i.e., order, description, distance and origin. The marketing research is highly dependable upon the … [Read more...] about Scaling Techniques
E-commerce
Definition: E-commerce or electronic commerce is an intangible business platform which enables the individuals, business entities and companies to sell their products or services and carry out various commercial activities, through an electronic network. E-commerce has gained immense popularity among the customers who find it convenient to browse the products and services … [Read more...] about E-commerce
Rural Marketing Strategy
Definition: A rural marketing strategy refers to the planning of adequate supply of consumer goods and agricultural input to the villages at an affordable price to fulfil the needs of the consumers residing in these rural areas. Rural markets have a high potential and can generate huge sales volume for the companies which manufacture cost-efficient products and have active … [Read more...] about Rural Marketing Strategy