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…
Marketing Category
The Marketing category has detailed articles, concepts and How-tos to help students and professionals learn the concepts and applications.
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….
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…
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…
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…
Break-Even Price: Definition, Examples, and How To Calculate It (Updated 2026)
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…
Physical Evidence in Marketing Mix
If you have read the service marketing mix, then you would know that physical evidence is one of the additional 3 Ps (extended marketing mix)…
Types of Sales Organization: A Complete Guide about Sales Team Structures
If sound practices are followed in setting up the sales department, the resulting structure takes on features of one or more of four basic types…
Pricing Decisions: Examples, Objectives & Factors to Consider
Businesses make pricing decisions when determining the prices for their products or services. For example, a business that sells ladies’ bags may decide to charge…
8 steps to create a strong sales pipeline
Sales is a continuous process and the timelines are such, that you are needed to prospect and close customers again and again. The sales process…
Marketing Information System – Types, Tips and Examples
Definition Marketing Information System regularly gathers, analyzes, interprets, stores, and distributes internal and external market data. Marketing information systems include CRM, market research, competitive intelligence,…
Qualities of highly effective salesperson
What qualities should an effective salesperson possess? It is difficult to list “success” qualification. Sales executives jobs cover a gamut of products, markets, and marketing…
International marketing – Scope and challenges
What is International Marketing? International marketing is the process of marketing goods or services to customers in more than one country. This process can be…
AIDAS theory of selling
AIDAS stands for Attention, Interest, Desire, Action, and Satisfaction. The AIDAS model states that a prospect goes through five different stages before finally responding satisfactorily…
Channel Levels – Consumer and industrial marketing channels
Channel levels consist of consumer marketing channels or the industrial marketing channels. A factor common among both channel levels is that both include the producer…
Functions of channel members
There are numerous functions of channel members. All of these function utilize scarce resources of the organization. Furthermore, these functions can be better performed through…
What is Service Perishability?
What is Service Perishability? Service perishability is a term used to describe the finite nature of services because, unlike goods that can be stored and…
Heterogeneity in service marketing
Each and every service is different in nature. That’s the simple meaning of heterogeneity in service marketing. Imagine 2 restaurants. Even if they have the…
5 sales myth which have to be ignored in today’s sales environment
There are many sales myths associated with joining a sales profile in a company. Many management executives want to become finance heads, marketing heads and…
Intangibility of services
Products are tangible and Services are intangible in nature. Intangibility of services is derived from the fact that you cannot see or touch a service….
What is New Product Development? Stages, Examples & Best Tips to Improve NPD
New product development is a process of idea generation, creation, designing, validation, and launching of a product that is completely new to the market. Examples…
Benefits and limitations of Product life cycle
The product life cycle is an excellent tool which can be used by Business managers, strategists and marketing managers to come up with product strategies….
Marketing Decision: Definition and Types
What is Marketing Decision? Marketing Decision is a crucial step in the marketing process. The decision-making process helps to make effective marketing strategies and plans…
Positioning Process – Steps involved in Positioning
The positioning process is important to be identified and followed by any organization which wants to implement its marketing strategy soundly. It is a difficult…
Effective Positioning
According to the basic principles of marketing, products and services are created to solve customer “problems” (i.e., to satisfy needs and wants) and provide benefits….
Offensive Marketing – Strategy and examples
When multiple businesses in a market sell the same product, the offensive marketing approach is used; as a result, each business only gets a portion…
7 Detailed Steps to Find Your Target Market
Finding your target market is different from choosing your target market. If you were a wolf, you can’t choose to sell apples in your neighbourhood…
What is the Need for Market Segmentation? Key Practices & Benefits
Understanding the need for market segmentation is an important step for any business. Segmenting the market involves dividing a large group of potential customers into…
Target Market Selection – Importance and Strategies
Target market selection is the process of selecting your target market by choosing a specific group of consumers to whom you will promote your new…
Reference Groups: Definition, Types, Importance & Examples
What are Reference Groups? Reference groups are social groups that are used ‘as the yardstick’ for self-assessment or team comparison and ‘as a standard or…
Factors Influencing Consumer Buying Behavior
When it comes to consumer buying behavior, there are many factors at play. Factors like brand loyalty, media influences, environmental influences, and even the time…
What is Brand ladder and how to use it for brand building?
Multiple qualities of the brand can influence consumer decision making. Brand ladder refers to the marketing tool used by marketers, to communicate all the benefits…
Classification of services
In order to be able to make a clear and relevant classification of services, we would first need to understand the concept of the word…
What is a Brand Community and How to Build a Successful One?
What is a brand community? A brand community is a functional group or platform that brings together all the loyal buyers, users, and employees in…
Value Delivery: Definition, Process, and Preparation
Value Delivery is the process of providing value to customers by means of a product or service. This involves developing the product, packaging it, promoting…
Customer Retention Strategies
Customer retention is an essential goal for any business aiming to succeed. The longer you can maintain customer loyalty, the more likely they are to…
Product Management – Example, Types and Career
To be effective in product management, you must comprehensively grasp the customer’s requirements and guarantee that the product fulfills them. Good communication skills and strategic…
Direct marketing – Definition, Types, Steps and Examples
What Is Direct Marketing? Direct marketing is a type of marketing and advertising where organizations communicate directly to customers through various channels, including brochures, email,…
10 factors which determine a good sales personality
Being a sales man or a sales personality in your field is one of the most tough job nowadays due to the number of rejections…
Beginners guide to Market Segmentation
This is a comprehensive guide on Market segmentation which lists out the different types of segmentation, role of segmentation in marketing, the advantages of segmenting…
