What is Word-of-mouth marketing? Abbreviated as WOM marketing, it is a form of marketing wherein the consumer’s interest in the company’s offering is shown in their day-to-day dialogues. More precisely, it is free of cost promotion that takes place out of customer’s experiences, when they use the product offered by the company and get more […]
Business
Test Marketing
What is Test Marketing? The best way for testing a new product is to introduce it in a full-blown test market. Test Marketing is a form of marketing the company supplies free samples to the target market. These samples are offered for sale in a limited number of stores. This will estimate the market response […]
Balanced Scorecard
What is Balanced Scorecard? Balanced Scorecard implies a strategic management tool that helps identify and level up the internal functions and their external outcomes. It is a tool of management that converts the organizational goals into a number of objectives. These objectives are gauged, analysed and changed whenever required to ensure that the organisation reaches […]
Advertising Copy
What is Advertising Copy? Advertising copy implies a branded message that attempts to convert prospects into customers. It is the key text or script which advertisers use in the advertisement, be it radio, TV, printed or digital. This will include dialogue, catchy phrases, etc. Further, an advertising copy not just specifies your brand’s message, but […]
Strategy Evaluation and Control
What is Strategy Evaluation and Control? Strategy Evaluation and Control is concerned with that facet of strategic management, with which an organization makes certain that it is attaining its objectives considered in the strategic action. If the answer is no, then what are the necessary measures needed for achieving strategic effectiveness? In short, it is […]
Advertising Agency
What is an Advertising Agency? An advertising agency refers to a team of creative experts appointed by the client (advertiser) to design, develop, produce and place advertising messages in media. For doing this work, the agency charges a commission of 15% on media bills from the media owners. Along with that, they also charge out-of-pocket […]
Profiteering
What is Profiteering? Profiteering is an unfair trade practice whereby businesses use unethical means to make excessive or unreasonable profits. It is also when businesses take undue advantage during the time of emergency so as to make more and more profit. They do so by charging high prices for essential goods. It is a form […]
Outdoor Advertising
What is Outdoor Advertising? Outdoor Advertising is one such mode of advertising that companies used in olden times, which is still prevalent today. It is a powerful device to get through the prospective customers at the point. As the name suggests, outdoor advertising involves displaying ads outside of doors. So, these may include posters, hoardings, […]
7 C’s of Effective Communication
No matter if someone is communicating in written or oral form or if someone is using the audio or visual or audio-visual mode, it is pertinent to fulfil the minimum requirements of effective communication. For this purpose, one needs to have a complete idea of the 7 C’s of communication. 7 C’s of Effective Communication […]
Job Evaluation
What is Job Evaluation? Job Evaluation refers to the process of determining the comparative worth of each job in the firm. This process aims to assess the value of each job against another job to set right the pay scale of each job. It offers important insights for grading jobs in the firm systematically and […]