A common confusion that we get when conducting a market research survey is the market research questions that we should ask from the sample population. While preparing the market research questionnaire, the type of questions you prepare is very important. These questions can be the difference between precise answers or deep insight into the customer's mind. If you were to … [Read more...] about Types of Market Research Questions
Marketing management articles
Various parties to the production and distribution of goods play a pivotal role in any economy keeping the robust volume of trade and commerce flowing through the market, leading a nation to prosperity. One of the important participants in the distribution network is the retailer. There are many functions of retailing which have to be taken care of by the retailer. Before we go … [Read more...] about What are the Functions of Retailing?
A correct Distribution channel is the backbone of a sales strategy. Without a proper distribution channel, it is unlikely that the brand will be able to get its products to the end customer. Distribution channels are especially important in case of products which are newly launched, or products which are innovative or are service heavy. Due to the companies already established … [Read more...] about How to Choose Distribution channel in marketing?
Word of mouth marketing is one of the oldest, and currently the strongest marketing tactic for any marketer. A newly launched product or service can become a hit or a flop due to word of mouth marketing. As the popularity and penetration of internet and social media rises, word of mouth marketing is becoming more and more important for all brands. Word of mouth marketing … [Read more...] about What is Word of mouth Marketing?
What is a By-Product? Many times, a production process results in the creation of Leftover products. These leftover products may not be as valuable as the main product, but they too have some economic value. Thus, these leftover products, known as by-products can be sold off as independent products in the market. The revenue generated from the sale of this product can be used … [Read more...] about By-Products & By-product pricing explained
Inventory management is one of the crucial aspects that contribute towards business success. Inventory management ensures smooth flow of business activity. In order to carry out all the manufacturing as well as retailing operations successfully, it is imperative that adequate amount of inventory is estimated, ordered, a track on its movement is kept and it is reordered at the … [Read more...] about What is Cycle Count & What is Cycle Count Process
Retail is an industry which is at war right now. There are many products of different kinds being sold from various type of retail outlets. Naturally, due to so much competition and so much saturation, each retailer wants to stand out and differentiate themselves. This can be done by retailers if they focus on the different type of retail categories retail services that they … [Read more...] about 4 Different types of Retail Categories – What services do retailers provide?
There are 4 different types of productions which are most commonly used. Which type of production should be used by the company depends on the type of product being manufactured, the demand of the product as well as the supply of raw materials. Taking these factors into consideration, below are the 4 types of Production. 1) Unit or Job type of production This type of … [Read more...] about Four types of production
When the marketing era began, companies started realizing that they could attract customers with differentiated offers. One such industry where differentiation was bought at the store level was Retail. Just like we have seen the rise of E-commerce, Retailing was similarly rising rapidly back in the 80’s and 90’s and it is still rising in the developing and underdeveloped … [Read more...] about 10 Types of Retail Stores – 10 Types of Retail Outlets
We recently had a look at the different kinds of retail services that exist. A general definition of retail is the use of a retail space to display products and sell. We look at various retail outlets in our day to day life when we visit malls, supermarkets or hypermarkets. However, if there is no retail space to sell, and the sale is happening directly to the end customer … [Read more...] about Non-Store Retailing
Advertising is one of the most creative fields and is a part of Marketing. In fact, Advertising has become so big that many people get confused about the differences between marketing and advertising. Nonetheless, the objectives of Advertising are completely different from Marketing. In summary, it is the objective of advertising to carry out communications between the brand … [Read more...] about 11 Objectives of Advertising – What are Advertising Objectives?
The difference between marketing and advertising is subtle and marketing managers, as well as marketing students, should know the difference. There is much confusion between marketing vs advertising. The same confusion is not observed between marketing vs selling. This is because the procedure of sales is very different from advertising. Sales and advertising both are subsets … [Read more...] about Difference between Marketing and Advertising
Segmentation is an integral part of marketing strategy of any organization for any product. It is important to know the different segments that exist in the possible target customers to ensure that a product is positioned to the right segment of people. It actually means dividing a market into sub-segments and each segment have something in common. It helps in identifying a … [Read more...] about Lifestyle Segmentation
In the field of marketing, Brand Equity means the value of a brand. The concept of the value of a brand is very interesting and deeper than what it looks like. The generally accepted notion for a brand owner is that a well-known brand in the market will give more revenues and goodwill rather than the lesser known ones. There have been multiple approaches and studies happened to … [Read more...] about Aaker Brand Equity Model
For any company which is involved in distribution, distribution cost is a major bottleneck. There are many different distribution expenses which must be taken care of. Furthermore, these expenses are not consistent and may change from time to time thereby changing the distribution cost as well. Example – A company in the 1st year of its foundation might be given an X salary to … [Read more...] about Understanding Distribution cost – 11 types of Distribution expenses