Industrial Products Individuals and Organizations buy industrial products for further ultimation in the business operation or may use in other products. The main objective of industrial products is to use the products in business operation and earn profit. Following are the types of Industrial products 1. …
Consumer Decision Process Stages The are five 5 stages of buying decision process Need Recognition Information Search Evaluation of Alternatives Purchase decision Post Purchase Behavior Marketers should focus on consumer decision process rather than purchase decision. Consumers go through all the five stages of buying decision …
Types of Consumer Products Consumer products are those, which are used by the customer for consumption or for household use. Consumer products are further classified and divided in: Convenience Products Shopping Products Specialty Products Unsought Products Convenience Products The consumers have enough knowledge about such type …
Definition of Product Product can be define with two ways: Narrow Sense (Classical Approach to proudct) Broad Sense (Modern Approach to product) 1. Narrow Sense A product is a set of basic characteristic assembled in an identifiable form or product is a set of tangible, physical …
In today’s competitive business environment, customer has become very quality conscious. Most of the customer will no longer tolerate something less than high quality products and services. Companies have, therefore, been compelled to adopt total quality management. There is a very close relationship between quality …
Conventional Marketing System Conventional Marketing System comprises of an independent producer, wholesalers and retailers (2level). Each is a separate business, seeking to maximize its own profits, even if it reduces profit for the system as a whole. No channel member has complete or substantial control over …
The task of creating strong customer loyalty is called relationship marketing. It embraces all the steps that companies undertake to know and serve their valued customer better. Following five are the different levels of customer relationship building. Basic Marketing: The scales person simply sells the product. …
Companies seeking to grow their profit have to boost their sales. This requires exploring new markets and broadening their customer base. They then make vigorous effort to attract new customers. For this purpose, they do all out effort ranging from advertising in the target market to …
Marketing or Distribution Channels are sets of interdependent organizations involved in the process of making a product or service available for use or consumption. These are one of the most critical decisions. Advantages of Distribution Channels Financial help to producer Direct marketing may not be feasible. …
