Marketing

Definition: The wheel of retailing refers to a hypothesis, which depicts the life cycle of a retail organization. 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 to high-end consumers. Prof. Malcolm Perrine McNair proposed this theory in the year 1931. He … [Read more...] about Wheel of Retailing

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

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

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

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

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

Definition: Rural marketing refers to the framing and application of various marketing principles and strategies along with the marketing mix by the companies to capture the potential market and satisfy the needs of the people living in the remote areas of the country. Example: One of the prominent marketing strategy adopted was Nokia's launch of affordable mobile phones … [Read more...] about Rural Marketing

Definition: Product life cycle can be defined as the analysis of the complete life span of a product. It is divided into five stages, i.e., development, introduction, growth, maturity and decline. It is an essential tool for analyzing the prospective success or potential of a new product through research and development. Just like humans, a product also has a life cycle … [Read more...] about Product Life Cycle (PLC)

The terms advertising and publicity are used interchangeably by many of us. But there is a considerable difference between the two. The critical difference between the two is that; former is a paid promotion of products done with the aim of increasing sales volume. However, the latter is an unpaid promotion through a third party aimed at creating a buzz or revealing a public … [Read more...] about Advertising Vs Publicity

Definition: Supply chain management refers to controlling the flow of raw material, product, inventory, cash and information right from the place of origin to the final consumption of the product. A supply chain involves all the activities which an organization performs for consumer satisfaction. It includes product development, finance, marketing channel, transportation, … [Read more...] about Supply Chain Management