Definition Trade fair is an event in which firms belonging to the same industry present their products and services in a defined setting to prospective…
What is Product Development? Definition, Meaning, Phases
Definition Product development refers to all the stages that are included in building a product from its initial idea to its release in the market. All…
Shelf Talkers – Definition, Objectives, Tips, Advantages
Retail stores have changed dramatically in the past few decades. Earlier, one retail store was dedicated to the sale of one type of product. But…
Self Improvement – Definition, Meaning, Steps, Plan, Goals & Ideas
Self Improvement is the enhancement of one’s knowledge, education, personality, status by making conscious efforts. Self-Improvement is one’s journey to achieve their personal goals. Definition…
Loyalty Program – Definition, Importance and Types of Loyalty Programs
Companies use various marketing strategies to retain their customers and to encourage customers to spend more money. It is less expensive for a company to…
Job Shadowing – Benefits and TypesOf Job Shadowing
Job shadowing is an excellent method through which you can gain professional experience and understand the responsibilities of another employee. It helps you in better…
Customer Centric – Definition, Meaning, Characteristics, Advantages
Definition Customer Centric is defined as a process which starts and ends with only one thought, and that is customer satisfaction. It is neither a…
Job Enrichment – Definition, Characteristics, Advantages, Disadvantages
Job enrichment is a technique adopted by management to motivate the employees and to provide job satisfaction to them. Job enrichment technique is also referred…
Material Handling: Definition, Objectives, Importance, Types
People moving material and final goods from one place to another is a common sight in a company which produces some physical products. Raw material…
Quota Sampling – Definition, Meaning, Advantages, Disadvantages
Definition Quota sampling can be defined as a sampling method where a sample of respondents, with specific characteristics and traits, for research is selected from…
PDCA Cycle – Plan-Do-Check-Act Cycle Explained
PDCA cycle stands for the Plan-Do-Check-Act cycle and is a tool commonly used for project planning and continuous improvement. Walter Shewhart first introduced the PDCA…
What is Lead Management? Definition & Best Software & Tools in 2023
Lead Management can be best described as a customer acquisition pipeline that begins with the identification of potential customers and extends through closing sales. Every…
Bullwhip Effect – Example, Causes, Analysis and Consequences
The bullwhip effect is a supply chain phenomenon in which there are inefficiencies in forecast and supply chain. The bullwhip effect refers to the fluctuating…
Yield Management – Definition, Calculation, Examples and Strategy
Yield management is a pricing strategy through which you can maximize your revenue. It is a famous variable pricing strategy that is primarily based on…
Retention Bonus – Definition, Steps, Advantages, Disadvantages
Definition A retention bonus is defined as a one-time payment that is used as a financial incentive to keep a valuable employee in the organization….