Commodification is the process of turning various things into commodities that can be traded. It refers to the act or process of treating something as…
Marketing Category
The Marketing category has detailed articles, concepts and How-tos to help students and professionals learn the concepts and applications.
What Is Affinity Marketing? Definition and Strategies for Success (Updated 2025)
Affinity marketing is an integral part of a solid and successful marketing strategy. This is when two or more businesses work together to promote their…
What are Business Goals? Definition, Examples, and Steps
Business goals are the desired results that a company aims to achieve. They help define the business’s success and can also serve as a source…
What is Prestige Pricing? A Complete Guide with Definition & Real-Life Examples
In the world of business, pricing strategies can make or break a company’s success. Prestige pricing, for instance, is a fascinating approach. This method works…
What is Product Life Cycle? Definition, Stages & Examples
The product life cycle is the depiction of different stages a particular product goes through, from being introduced to the consumers (called Introduction) to being…
A Study on McDonald’s Arch Deluxe Burger Brand Failure
As well as the McLibel Trial, McDonald’s has also experienced a number of more conventional marketing problems in recent years. Most of these problems have…
Sales Forecasting
Sales forecasting is a difficult area of management. Most managers believe they are good at forecasting. However, forecasts made usually turn out to be wrong!…
What is Pricing? Definition, Types, Strategies & Examples
Pricing is a price-fixing process that businesses use to fix the price value that a manufacturer will receive for offering its products or services. An…
Pricing Strategies
The only time when price setting is not a problem is when you are a “price-taker” and have to set prices at the going rate,…
Advantages of Decentralized Sales Force
A decentralized sales force constitutes of people placed at various strategic points across locations. These strategic points might be across a region, across a state…
Product Concept: Definition, Types, Importance & Example
What is a Product Concept? A product concept is the description of the characteristics, quality, and performance of a product at the initial stage in…
Internal Customers – Definition, Examples and Characteristics
Definition: An internal customer is defined as a customer who works in the organization and does not pay for using the company’s product or service….
Difference between Selling and Marketing
The difference between Selling and Marketing is associated with the roles and responsibilities of sales and marketing teams. Selling focuses on the process of getting…
Societal Marketing Concept – Definition, Importance and Examples
The societal marketing concept is defined as a philosophy that calls for marketing strategies to preserve or enhance individual and societal welfare. The Societal Marketing…
Selling concept – Definition, Examples, Pros and Cons
During WWII world industry geared up for accelerated wartime production. When the war was over this stimulated industrial machine turned to producing consumer goods. By…
What is Production concept?
When the production concept was found, a production oriented business dominated the market. This was from the beginning of Capitalism to the mid 1950’s. During the…
Internal Branding – Definition, Importance, Strategy and Benefits
Internal branding is making the employees know about the brand precisely, especially the company goals and external branding. In other words, it is the meeting…
Adaptation Level Theory
Adaption level theory, also known as AL Theory is a Psychological concept which explains that the basis of an individual’s judgment on a stimulus depends…
Product adaptation: Definition, Types and Importance
Product adaptation is the product modification process of an existing product so that it is made suitable for various markets and customers. With the right…
How to analyse consumer behavior by asking these 12 simple questions?
Analysing consumer behavior is difficult because there are many factors which influence consumer’s behavior. However, if you ask these 12 basic questions, then the going…
What is Relationship Marketing? Definition, Types and Examples
What is Relationship Marketing? Definition: Relationship Marketing is a subset of Customer relationship management and focuses on building long-term meaningful relationships with customers rather then…
Selective attention & importance of capturing customer’s attention in marketing
Most people would get the logic of selective attention through a simple example. You are going through a boring lecture on finance, and a hot…
Service Marketing Mix – 7 P’s of marketing
What is Service Marketing Mix? The service marketing mix is also known as an extended marketing mix and is an integral part of a service…
What is a Market? Definition and Types of Markets
The market is an essential part of the economy, as it allows people to buy and sell products and get a fair price for them….
Coca Cola Brand Failure
Think of a brand success story, and you may well think of Coca-Cola. Indeed, with nearly 1 billion Coca-Cola drinks sold every single day, it…
Recruitment and selection of sales personnel
Companies always need employees to help them in realising their goals and objectives as far as operations are concerned. It is the desire of every…
What is Customer Orientation? Definition, Skills & Examples
Customer-oriented companies are always in tune with the wants and needs of their customers, providing comprehensive policies tailored to ensure satisfaction. Customer orientation emphasizes offering…
The Influence of Culture on consumer behavior
The influence of culture on consumer behavior is profound, and if misunderstood or taken lightly, then the product might fail in the new cultural market….
Target marketing explained
Target marketing, also sometimes known as niche marketing is the art of marketing only to a desired target market. Thus target marketing mainly involves two…
How to improve product quality? A guide for Business managers
Out of the many tasks given to the marketing department, one of them involves improving product quality. This is a job more precisely for the…
What is Conjoint Analysis? Types & How to Use It
Conjoint analysis might sound a bit intimidating, but it’s just a fancy term for a method that helps us understand how people make decisions. Ever…
What is Psychographic Segmentation? A Complete Guide with Examples and Types
Beliefs, values, lifestyle, social position, views, and hobbies are just a few of the factors that may be used in psychographic segmentation to divide your…
Types of Sales Organizations – Committee Sales Organization
In committee sales organization the committee is never the sole basis for organizing a sales department. It is a method organizing the executive group for…
Competitive Pricing: Definition, Strategy & Advantages
Competitive pricing is a pricing strategy that enables a business to offer goods or services at a lower or the same price as its rivals….
What are Activities, Interests, and Opinions (AIO)?
What Are Activities, Interests, and Opinions (AIO)? Activities, Interests, and Opinions (AIO) are characteristics of a person which are used by market researchers for psychographic…
Total Customer Satisfaction – What it is and how to achieve it?
There are various ways to define total customer satisfaction. However, the underlining fact is very clear – You need to try to make your customer…
Vals – Values attitude lifestyle
Vals which is also known as values attitude and lifestyle is one of the primary ways to perform psychographic segmentation. All three terms are intangible…
Types of Sales Organization – Functional Sales Organization
Some sales departments use Functional sales organization. This type, derived from the management theory developed by Frederick W. Taylor, is based upon the premise that each…
Break-Even Price: Definition, Examples, and How To Calculate It (Updated 2025)
What Is a Break-Even Price? The break-even price is the price a company must charge to cover direct manufacturing expenses and make a profit. It…
Types of Sales organization – Line and Staff Sales Organization
The line and staff sales organization is often found in large and medium sized firms, employing substantial numbers of sales personnel, and selling diversified product lines…
