Telemarketing is a form of direct marketing in which businesses and organizations make unsolicited sales calls to consumers. It is a commonly used sales tactic…
The 6 Steps of Disciplinary Procedure
A disciplinary procedure is defined as a step-by-step process that deals with the perceived misconduct of an employee. It includes written rules and regulations that…
Diversity Training – Definition, Meaning, Process and Objectives
Diversity training is defined as a training program that encourages positive interactions between a group to minimize discrimination and prejudice. It is a gradual process…
What Is Fill Rate? Definition, Meaning, Formula, Examples
Fill Rate is associated with measuring the ability of an inventory in meeting the demand of the customers. So, the percentage of customers that can…
What is Remarketing and How do these ads work?
If you want to convert those people who visit your site but don’t make a purchase from your website or don’t perform the favorable action,…
Media Planning – Definition, Forms, Importance, Process and Benefits
Media planning is the process of identifying and selecting media outlets like television, newspapers, radio, magazines, etc., on which paid advertisements can be done. The…
Materials Management – Definition, Types, Benefits, and Objectives
Material Management is an important component of any successful business. It involves planning, controlling, and monitoring the movement of materials from suppliers to manufacturers and…
10 Steps of a Meaningful Self Evaluation to Increase Performance
As appraisals are right around the corner, your company might be asking you to fill in the self-evaluation form. Self-evaluation is one of the best…
What is Prosumer? Definition, Examples & Consumers vs Prosumers
A prosumer is someone who both produces and consumes goods and services. This term is most commonly associated with technology-savvy consumers who are using new…
Price Discrimination – Definition, Types, Objectives & Examples
Companies use various pricing strategies to generate profit by selling the same product. price discrimination is popularly used pricing strategy by companies to generate profit….
Rate Card: Meaning, Definition, Terms and Advantages
Definition A Rate card is a pricing chart that helps outline the expenses for clients or businesses looking to place advertisements or utilize media services….
What is Statement of Work? Meaning, Format, Tips & Other Details
A statement of work or sow is an integral part of contract and project management that guarantees completion of project work as per the set…
What is Trade Fair? Definition and Importance of Trade Fairs
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 2025
Lead Management is best described as a customer acquisition funnel that starts with finding new customers and finishes with closing transactions. Every organization requires an…
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….
Staff Turnover – Definition, Meaning, Types, Causes, Benefits
Staff turnover is defined as the rate at which the staff in an organization leave the firm at a specific time. The term staff turnover…
Operations Research – Types, Advantages, Disadvantages
Operations research, popularly known as OR, is a scientific research method or a mathematical technique to determine the right decision for a problem. Operations research…
What is Interactive Marketing with Definition & 5 Best Examples?
Interactive marketing is a two-way approach to marketing focused on interaction and collaboration as per the reaction and inclination of the customers. It is also…
Market Development – 4 Steps and 5 Types Of Market Development
Market development is a strategy for growth that organizations use to develop new markets or new market segments for existing products. The primary targets of…
Labour Relations – Components, Importance, Purpose
Labour relations incorporate the processes involved in between Management & Union or Employers & Workforce for making effective decisions and channelising an organisation. With the…
What is Quality Assurance (QA)?
Quality Assurance (QA) is the practice of assuring that the quality of a product or service throughout its life cycle, from design to delivery meets…
What is Product Quality? 7 Steps of Products Quality Management
In simple terms, you can understand product quality as a characteristic that is a further conglomeration of different features for fulfilling the customer needs and…
Training Needs Analysis – Features, Components, Levels and Benefits
Training Needs Analysis is the process of identifying the training and development needs of the workforce, so they can perform their jobs more effectively to…
Quality Audit – Definition, Meaning, Types, Advantages
Definition Quality audit is a process of examination and verification of procedures, records, and activities of a quality system that is carried out by an…
Recency Effect – Meaning, Examples and Role
As per many psychological theories, when you will be asked to recall the items in any order from a list, there are brighter chances that…
Strategic Groups Definition – Meaning And Examples
Definition Strategic groups can be defined as a group of companies within a particular industry that follows a similar strategy or similar business model. The…
Value Based Pricing – Definition, Advantages, Disadvantages
Has this ever occurred to you how companies decide the price of their products? Do they pick a number randomly? Do they consider essential factors…
Master Brand – Definition, Benefits, Strategy
The name of the brand is essential for a company. The image of the brand of a company impacts the sales of products and profit…
