Business Market: Characteristics, Buying Situations, Differences, Participants, Stages of Buying

What is Business Market

What is Business Market? The Business Markets include organizations that buy products on large scale either for the production of another product or for their own use. Organizations are buyers as well as sellers. Buying for Producing for Consumers Organizations buy products and add value to the same for selling to Consumers. These organizations are

Information System: Meaning, Needs, Types, Functional, Dimensions, Quality of Information, Types of Information

What is Information System

What is Information System? Information systems are “A combination of hardware, software, infrastructure, and trained personnel organized to facilitate an organization’s planning, control, coordination, and decision making. Data is a raw material for information systems. Collecting data costs money and hence one must collect necessary and sufficient data. Data is generally input to the information

MIS: Meaning, Definitions, Components, Types, Functions, Advantages, Difference

What is MIS

What is MIS? A marketing information system (MIS) is a continuing and interacting system of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute pertinent, timely, and accurate information for use by marketing decision–makers to improve their marketing planning, implementation, and control. MIS is the use of information technology, people, and business processes

Future of CRM: Role, Challenges, Benefits

Future of CRM

Future of CRM CRM has become an important component of every enterprise, from small businesses to multinational corporations. Sales and marketing teams are using CRM to optimize consumer interactions, attract and retain customers, and gain new customer-centric insights that are enhancing their businesses. Let us study the future of CRM from the banking perspective: Role

Brand Personality: Elements, Brand Personality Examples

What is Brand Personality

What is Brand Personality? Brand personality is the way a brand speaks and behaves. It means assigning human personality traits/characteristics to a brand so as to achieve differentiation. These characteristics signify brand behavior through both individuals representing the brand (i.e. its employees) as well as through advertising, packaging, etc. What Leads To Brand Personality? The

Branding: Name,Trademark, Types, Strategies, Difference Advantages and Disadvantages

What is Branding

What is a Brand? The word “brand” is a comprehensive term “A brand is a name, term, symbol, or design or a combination of them that is intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors”. What is Branding? Branding is the

New Product Development Process and Consumer Adoption Process

New Product Development Process

New Product Development Process Developing a new product is key to organizations’ survival in the ever-changing marketing environment. Some organizations set a price limit while others focus on adding value and making the existing product better than before. They do this with the price factor coming at a later stage. Depending on the organisation’s size

New Product Development: Meaning, Stages, Classification

New Product Development

What is New Product Development? By new products, we mean original products, product improvements, product modifications, and new brands that the firm develops through its own research and development efforts. A new product will be considered anything which is perceived by the consumer or with which the firm has no previous experience. From a firm’s

Product Life Cycle: Meaning, Stages, Shapes, Assumptions, Characteristics, Problems

What is Product Life Cycle

What is Product Life Cycle? The product life cycle is the process a product goes through from when it is first introduced into the market until it declines or is removed from the market. The life cycle has four stages: introduction, growth, maturity, and decline. In other words, The product life cycle is an important