Table of Contents:- Nature of Promotion The nature of promotion refers to those inherent qualities and fundamental aspects that define how promotional activities function in the marketing context. The success of promotional efforts relies on understanding the purpose, strategies, methods, and overall dynamics of a specific target audience. By understanding the nature of promotion, businesses […]
New Product Development describes all the phases and tasks in launching a new product or service in the market from the emergence of the idea to its commercialisation.
Customer service is a measure of the effectiveness of a system’s ability to generate time and place utilities for a product. Effective marketers understand the significance of customer service within the larger context of customer relationship marketing.
Labelling is the part of the product that carries information about the product and the seller. A label indicates the product’s brand name, the company logo, ingredients, promotional messages and instructions for use.
Market segmentation means breaking down the total market into self-contained and relatively homogeneous sub-groups of customers, each possessing its special requirements and characteristics.
The industrial market is where industrial buyers come into direct contact with industrial sellers. It consists of all the individuals or organisations acquiring goods and services that produce other products or services rented, sold, or supplied to others.