Cross elasticity of demand is defined as the ratio of proportionate change in the quantity of the goods demanded when there is a change in the price of goods demanded in related goods.
Marketing management articles
7 Types Of Customers based on Consumer Behavior
Customers are an essential part of any business. No business in the world can survive without customers. Only customers are in control of the actual success of any business. Therefore, they are the
The Objectives Of Marketing Explained in Detail
Marketing is all about making the potential customers aware of all the products and services that you offer as an organization. It is one of the essential elements in any organization and paying
What is Dynamic Pricing? Examples, Importance, Advantages and Disadvantages
Dynamic pricing is basically that business strategy in which the entities (companies) set up prices for both the product and the services provided by them which are quite flexible in nature. This is
How to Appreciate Customers? 10 Ways To Show Appreciation to Customers
Personal attention is a great way in showing your appreciation to a customer. Listening attentively, showing concern are sure signs of caring that brings the customers back again and again. It is reflected
What is a Sound Logo? How to Create a Sound Logo?
The Sound Logo or the audio mnemonic can be defined as one of the tools of sound branding, along with the jingle, brand music, and the overall theme of the brand. It is
What is Business Environment? Understanding Business Environment
In today’s fast-paced business environment, it is very important that you have a sound understanding of your immediate business environment. In order to shake up the industry, you need to see the competitive
How to Establish Customer Goodwill and Its Importance?
The relation which the customers develop with the company via their products develops Goodwill. It is long lasting, based entirely on the basis of product or service or any other offering of the
What is Customer Experience Management and its Importance?
Customer experience can be defined as a collection of interaction or experience of the customer while buying the product or availing the service from customers’ point of view. It could be reaction or
10 Ways To Approach A Customer In Retail
Can a retail business survive without its customers? No, I don’t think so. They are an integral part of this enterprise and some even consider them their lifeblood. So how are you going
What are Customer Insights? Importance of Customer Insights
Today’s market has become more customer-centric than it was ever before. Gone are the days when products used to define the markets. Now it’s the customers who run the market and servicing customers
What is Procurement Cycle?
The Procurement Cycle can be defined as the cyclical process of key steps when procuring goods or services for the organization. This interactive tool is strategically developed to guide and enlighten the members
What is Product Demonstration? Types of Product Demonstration
A product demonstration or demo, in short, is a kind of promotion for the potential customers and prospects in order to achieve the sale. The primary goal of product demonstration is to get
What is Portfolio Analysis?
A financial term Portfolio Analysis, is primarily the study of certain portfolio regarding its performance, ROI and associated risks. The study or analysis is conducted with two objectives viz minimizing the risks and
What is Customer Intimacy?
The concept of Customer Intimacy can be defined as the marketing strategy where the company or the supplier of a product or a service, wants to get closer to the customer to understand
What is Global Marketing?
Marketing of products is done regularly by companies locally. But since ages, foreign products have constantly been introduced in other markets and the sellers or modern-day term would be marketers have tweaked, changed