Self Improvement is the enhancement of one’s knowledge, education, personality, status by making conscious efforts. Self-Improvement is one’s journey to achieve their personal goals. Definition…
Loyalty Program – Definition, Importance and Types of Loyalty Programs
Companies use various marketing strategies to retain their customers and to encourage customers to spend more money. It is less expensive for a company to…
Job Shadowing – Benefits and TypesOf Job Shadowing
Job shadowing is an excellent method through which you can gain professional experience and understand the responsibilities of another employee. It helps you in better…
Customer Centric – Definition, Meaning, Characteristics, Advantages
Definition Customer Centric is defined as a process which starts and ends with only one thought, and that is customer satisfaction. It is neither a…
Job Enrichment – Definition, Characteristics, Advantages, Disadvantages
Job enrichment is a technique adopted by management to motivate the employees and to provide job satisfaction to them. Job enrichment technique is also referred…
Material Handling: Definition, Objectives, Importance, Types
People moving material and final goods from one place to another is a common sight in a company which produces some physical products. Raw material…
Quota Sampling – Definition, Meaning, Advantages, Disadvantages
Definition Quota sampling can be defined as a sampling method where a sample of respondents, with specific characteristics and traits, for research is selected from…
PDCA Cycle – Plan-Do-Check-Act Cycle Explained
PDCA cycle stands for the Plan-Do-Check-Act cycle and is a tool commonly used for project planning and continuous improvement. Walter Shewhart first introduced the PDCA…
What is Lead Management? Definition & Best Software & Tools in 2024
Lead Management is best described as a customer acquisition funnel that starts with finding new customers and finishes with closing transactions. Every organization requires an…
Bullwhip Effect – Example, Causes, Analysis and Consequences
The bullwhip effect is a supply chain phenomenon in which there are inefficiencies in forecast and supply chain. The bullwhip effect refers to the fluctuating…
Yield Management – Definition, Calculation, Examples and Strategy
Yield management is a pricing strategy through which you can maximize your revenue. It is a famous variable pricing strategy that is primarily based on…
Retention Bonus – Definition, Steps, Advantages, Disadvantages
Definition A retention bonus is defined as a one-time payment that is used as a financial incentive to keep a valuable employee in the organization….
Staff Turnover – Definition, Meaning, Types, Causes, Benefits
Staff turnover is defined as the rate at which the staff in an organization leave the firm at a specific time. The term staff turnover…
Operations Research – Types, Advantages, Disadvantages
Operations research, popularly known as OR, is a scientific research method or a mathematical technique to determine the right decision for a problem. Operations research…
Outdoor Advertising – Definition, Importance, Types and Examples
Outdoor Advertising Definition: Outdoor advertising refers to advertising that is displayed in outdoor locations and targets consumers when they are away from their homes. Examples…
What is Interactive Marketing with Definition & 5 Best Examples?
Interactive marketing is a two-way approach to marketing focused on interaction and collaboration as per the reaction and inclination of the customers. It is also…
Market Development – 4 Steps and 5 Types Of Market Development
Market development is a strategy for growth that organizations use to develop new markets or new market segments for existing products. The primary targets of…
Labour Relations – Components, Importance, Purpose
Labour relations incorporate the processes involved in between Management & Union or Employers & Workforce for making effective decisions and channelising an organisation. With the…
Unit Price – Definition, Examples and Calculations
You must have faced situations when you are supposed to compare prices of items that are not sold in equal quantities. If it has confused…
What is Quality Assurance (QA)?
Quality Assurance (QA) is the practice of assuring that the quality of a product or service throughout its life cycle, from design to delivery meets…
What is Product Quality? 7 Steps of Products Quality Management
In simple terms, you can understand product quality as a characteristic that is a further conglomeration of different features for fulfilling the customer needs and…
Training Needs Analysis – Features, Components, Levels and Benefits
Training Needs Analysis is the process of identifying the training and development needs of the workforce, so they can perform their jobs more effectively to…
Quality Audit – Definition, Meaning, Types, Advantages
Definition Quality audit is a process of examination and verification of procedures, records, and activities of a quality system that is carried out by an…
Recency Effect – Meaning, Examples and Role
As per many psychological theories, when you will be asked to recall the items in any order from a list, there are brighter chances that…
What are Marketing Intermediaries? Definition, Types & Examples
A marketing intermediary is an individual or organization that helps facilitate the distribution process of goods and services from the manufacturer to the customer. It…
Strategic Groups Definition – Meaning And Examples
Definition Strategic groups can be defined as a group of companies within a particular industry that follows a similar strategy or similar business model. The…
Value Based Pricing – Definition, Advantages, Disadvantages
Has this ever occurred to you how companies decide the price of their products? Do they pick a number randomly? Do they consider essential factors…
Master Brand – Definition, Benefits, Strategy
The name of the brand is essential for a company. The image of the brand of a company impacts the sales of products and profit…
Organisational Commitment – Definition, Meaning, Components
Definition Organisational commitment is described as the psychological attachment of an employee for the company he works. It plays a crucial role in assessing the…
Visual Merchandising – Definition, Elements, Objectives
Retailers use different strategies and methods to attract customers and to boost their sales. Visual merchandising is one of those methods that are used by…
Market Space – Definition, Meaning, Characteristics, Components
The market space in marketing is defined as a virtual market place in the commercial world, where the limitations of physical boundaries are not applicable….
Premium Pricing – Definition, Strategy And Market Advantages
Pricing of a product plays an essential role in deciding the value of a product in the market. Companies use different pricing strategies to introduce…
Production Planning – Definition, Objectives, Need, Types, Importance
Definition Production planning is defined as the planning of production models in an organization or an industry. To serve different customers, it makes use of…
What is a Pyramid Scheme? Meaning and Examples
A business model that recruits members with the promise of payments for recruiting other members in the same scheme is called a pyramid scheme. As…
22 Types of Incentives – Financial And Non-Financial
In the competitive business era, companies do everything possible to stay ahead in business. Incentives are also an essential part of their efforts. The success…
Soft Launch Vs. Hard Launch – Goals and Intentions
A soft launch is a step that is taken to release a service, app, product or any business before the actual release or full start…
What is Rural Marketing? Features, Challenges, Potential and Examples
Rural marketing is the practice of applying the various principles and strategies of marketing to the rural markets. Rural marketing is pretty similar to conventional…
Advertising Appeals: Definition and 15 Types
What are Advertising Appeals? Advertising appeals in Marketing are strategies for grabbing the attention of people to persuade them to purchase your product or service….
What is Direct-to-Consumer? DTC Marketing Model Explained
Direct-to-consumer or D2C business model is when you sell your products and services directly to your end consumers without selling them via a wholesaler, retailer,…
Horizontal Communication – Definition, Meaning, Types, Features
Horizontal Communication happens when in an organization, communication and flow of messages occur amongst teams, groups or individuals who are at the same hierarchical level….
