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Marketing Terms – Basic Terms of Marketing

By Reading Time: 4 mins
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Marketing Terms

Where it is important to know about the marketing terms, here definition is marketing is also important to know. Marketing can be defined as “The set of activities that facilitates creation, promotion or provision of goods. Also services from point of manufacturing to final consumers is referred to as marketing”. Definition of marketing can be “the process of planning and executing design, promotion, pricing and distribution of goods, services. Also ideas to make exchanges that satisfy objectives of individuals as well as organizations”. Marketers are regarded as Managers of Demand. So it is necessary for them to have knowledge about various aspects, not simply about their own product.

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Price Discrimination

By Reading Time: 4 mins
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Price Discrimination

Need to learn about perfect price discrimination and how it is apply? Companies often experiment with different pricing policies to determine those optimal conditions which can generate maximum profit for the enterprise. Furthermore, testing with different systems also gives them an idea of the policy which can give them more control over product pricing and to get the most out of it. Some companies charge by the quality difference of the same product, while some charge different customers with different prices even for the same services and products.

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Measure Marketing Communication Plan

By Reading Time: 4 mins
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Measure Marketing Communication

Measure marketing communication plan is the process of creating a positive impact on the targeted audience by successfully carrying out or executing all the important elements of the marketing mix. In pretty simple words the Communication Plan is setting objectives to change people’s awareness, knowledge, attitudes or behaviors about the product. So managing all the aspects of the promotional mix (advertising, sales promotion, public relations, and direct marketing) in the Communication Plan.

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Sales Forecasting | Estimate Future Sales of a Product

By Reading Time: 3 mins
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Sales Forecasting

Sales forecasting is an essential step in budgeting. It is an essential act for a sustainable management of your company. Otherwise, you will navigate by sight following the currents without knowing where you are heading. In other words: blind! Which, if one wants to be professional, is totally incongruous? Sales forecasting of a product plunges you into a world of high-flying: the world of forecasts.

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Market Penetration – Types of Market Penetration Strategies

By Reading Time: 4 mins
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Market Penetration

Market Penetration occurs by increasing the sale/consumption of a product or service to current segments in a given market without changing the product. So the growth in sales is usually due to improvement in marketing mix i.e. improved design, enhanced distribution efforts. Along with reduced price or aggressive marketing campaigns. Market Penetration Strategies helps in determining the effectiveness of the successful business model and efficacy of the marketing strategy.

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