The Consumer Protection Act 1986 is one of the most beneficent legislation of recent times and it is intended to promote and protect the interest of consumers. This Act is designed to safeguard consumers’ lawful interests against traders, suppliers, and other entities. Its primary objective is to ensure businesses provide adequate protection to consumers.
Personal selling is a highly distinctive word and the only form of direct sales promotion involving face-to-face relationships between sellers and potential customers. Personal selling is a flexible and extremely effective but costly form of sales promotion. It is a two-way communication or mutual communication.
Channel management is essential for a company to reach its distribution goals. By strategically coordinating, building relationships, and optimizing performance, businesses can use their distribution channels effectively to fuel growth and success.
Marketing intermediaries are essential in getting products and services from producers to consumers. They act as a bridge between the two, ensuring that products and information flow seamlessly.
The difference between advertising and personal selling lies in their approach and means of communication. While advertising addresses a broad audience through mass media, personal selling involves one-on-one interactions between sales representatives and potential customers.
Public relations practice is planned and sustained effort to establish and maintain goodwill and mutual understanding between an organisation and its public.
Marketing channels refer to the intermediaries involved in the distribution process. These intermediaries can include wholesalers, retailers, agents and even online media.
In the business world, product pricing is an important factor that deserves detailed attention. Determining the right price for a product is a multifaceted task that demands a strategic approach. Striking the perfect balance between profitability and customer satisfaction is of great importance. It ensures that the set price remains competitive and fair.
Sales Promotion plays an important role within the marketing communications mix. It serves as a direct and immediate incentive, adding extra value to the product. This added value encourages both dealers and consumers to make a purchase.
Diffusion of innovation is the process by which the use of an innovation is spread within a market group over time and various categories of adopters. The concept of diffusion of innovation describes how a product typically is adopted by the marketplace and what factors can influence the rate (how fast) or level (how widespread) of adoption.