Penetration pricing is the market concept adopted for a new product to be launched in a market with low prices so that it may penetrate the market and can gain its position amongst the rivals. This strategy is implemented by the marketers for achieving the high ratio of sales for their new product by keeping […]
What Is Consumer Adoption Process? Describe Its Stages and Factors
The Consumer Adoption Process is a 5 step mental process by which all the customers/consumers go through while adopting a product from learning about a new product to becoming a happy loyal user of that product or to decline/reject the product completely. The process of a consumer of moving from a cognitive state toward the […]
How to make Customer Segmentation Strategy?
Customer segmentation basically deals with the exercise of making groups and further subgroups of the customers depending upon their different needs. It is the making of sections of consumers based on their specific behavior and needs so that we could easily target them. The objective behind the customer segmentation strategy is to integrate the market […]
What Is Product Positioning? What are its types & strategies?
Before moving towards the different types of product positioning and its strategies, it is important to know the product positioning definition? Product positioning can be defined as the position or place a product resides in the consumer’s mind with respect to the competing product. It is a process used by marketers to determine the best […]
What is Supply Chain Management?
Supply Chain Management (SCM) is very critical to the success of any business organization. It involves the management of the movement of products or services of business organizations. It begins with the accumulation of raw materials, then moves towards required processing on materials to convert them into finished goods and further it involves making the […]
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