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Definition Marketing logistics (often called physical distribution or part of supply chain management) is the set of activities, systems, and decisions that move products and related information from producers to customers in the right quantity, at the right place, at the right time, and at the lowest total cost consistent with required service levels. It … Read more
Strategies To Manage Channel Conflict Before managing channel conflict, let’s first understand what it is. Channel conflict refers to any disagreement between two or more channel partners. For smooth business operation, agreement between these channel partners is essential. However, due to various reasons conflicts arise in businesses between these partners. Below are some reasons for … Read more
Objectives of Pricing In marketing, the objectives of pricing include three – profit-oriented objective, sales-oriented objective, and status-quo objective. Let’s define and understand each of them: Profit Oriented Objectives Profit-oriented objectives of pricing, as its name suggests, are set to increase the profit of the business firm. The following are the two objectives that come … Read more
Factors Affecting Product Pricing While setting the price (value) of a product, businesses have to consider various factors before coming to a pricing decision. The following are 10 key factors that affect product pricing in business: Costs Costs play a pivotal role in pricing decisions. These are the expenses a business incurs to produce and … Read more
Characteristics of Service A service is a benefit or satisfaction that we can not see but feel and can satisfy our needs. The following are the 6 key characteristics of service in marketing: Intangibility The first characteristic of service is, that it is intangible. Intangibility in services refers to their lack of physical presence. Unlike … Read more
Strategies For Packaging Packaging plays a crucial role in the marketing of products. There is no all-in-one packaging strategy that best fits all situations. Companies must strive to understand the market and adopt their product packaging strategies. Below are the 10 most-demand strategies for packaging that are likely to best perform in today’s marketing world … Read more
Definition Packaging is the design, production, and use of containers and materials to protect, contain, transport, and present a product from manufacture to end use. It includes primary packaging (the material that directly holds the product), secondary packaging (grouping of primary units for handling or display), and tertiary packaging (bulk packing for transport and storage). … Read more