What is product mix in marketing exactly! Let’s understand this concept with the help of definition, meaning, elements and examples. Definition of Product Mix This is the set of all products and items a particular seller or manufacturer or marketer offers to the market (Consumer). It is also called as Read more…
Mercantilism theory of international trade is the oldest theory of trade. This theory states that “the holdings of a country’s treasure primarily in the form of gold constituted its wealth”. The main period of the concept of Mercantilism is from 1500 to 1800. Key Points of Mercantilism Theory First and Read more…
The evolution or History of Materials Management starts with the US and World War I. Before the 1st World war, people were unaware of the importance of Materials Management, Inventory Control and Supply chain Management. The concept of Material Management was strengthened with the research papers published by Harvard University. Read more…
Importance of Distribution channels is growing day by day with increased awareness and trust about eCommerce. Distribution or Marketing channels are an important part of any organization to deliver their products and services to consumer properly. This is a set of interdependent organizations or parties involved in the process of Read more…
Wholesalers, Distributors, Agents and Retailers are an important part of any business. Many times they act as a catalyst to manage a sales force, improve promotion, analyse market demand and manage supply according to it. This post covers the need and importance of wholesalers to the manufacturers, retailers, consumers, society Read more…
Distribution Channels also referred to as Marketing Channels or Place. A place can be a location where the product can be purchased by consumer/customer. The distribution channel helps to distribute or move product from one place (generally manufacturer) to another place (Consumer or end-user or customer etc.). Synonyms to Distribution Read more…
There are 5 M’s of Advertising Decisions which helps the marketer to develop better marketing strategies for the organization. Advertising is an important element of the communication mix. Communication mix is an essential part of the 4Ps of marketing mix which plays an important role in marketing decisions. So, we Read more…
This post will give you an idea about the major functions of Distribution Channels in marketing. It is also known as Marketing channels or Physical distribution channels. Distribution channels, whether physical or digital, plays a very important role in the growth of the business and hence understanding of functions is Read more…
Below said are the 7 important Steps in Designing an Advertising Campaign. The marketer must understand these steps to design an effective and full proof advertising campaign to attract more customers. Lets identify and understand various steps involved in the advertising campaign design: Identify the target audience SEC Grid i.e. Read more…
Wholesalers play a crucial role in the marketing supply chain which adds value to the product. Wholesalers can be divided into different types or categories based on their roles. Below said are the Types of Wholesalers. The basis for the classification: Wholesalers play a very important role in the supply Read more…
We have provided a simple definition of marketing mix with their meaning & examples. The marketing mix is the combination of the four marketing mix elements such as product, price, place, and promotion. In case of service, we can mention 3 extended p’s – Physical Evidence, Process, and People. Along Read more…