The term 'promotional mix' is used to refer to the combination of different kinds of promotional tools used by a firm to advertise and sell its products. The main promotional tools or activities which make up promotion mix are personal selling, advertising, publicity and sales promotion. These are also known as elements of promotion mix. Philip Kotler opines, "A company's [...]
Everything you need to know about the product life cycle marketing strategies. A marketing manager has to use different strategies at different stages of the PLC to promote the product and achieve the set objectives. The product strategies are designed and implemented on the basis of product categories, the external marketing environment and market share of the product. The product [...]
Everything you need to know about relationship marketing. Relationship marketing refers to those marketing activities that are aimed at developing and managing long-term relationships with the customers. The details about the customer, his buying patterns, contacts, etc. are maintained in a sales database and an account executive is assigned to fulfill the needs of the customers and maintain the relationships [...]