This article throws light upon the seven main steps involved in planning and development of a new product. The steps are: 1. New Product Ideas 2. Idea Screening 3. Concept Development and Testing 4. Business Analysis 5. Product Development, Programme 6. Test Marketing 7. Commercialisation. Planning and Development: Step # 1. New Product Ideas: We visualize the detailed features of [...]
After reading this article you will learn about Sales Promotions:- 1. Meaning of Sales Promotion 2. Types of Sales Promotion. Meaning of Sales Promotion: Sales promotion includes those marketing activities, other than personal selling, advertising and publicity, that stimulate consumer purchasing and dealer enthusiasm and effectiveness, such as displays, exhibitions, shows, demonstrations, free samples, trading stamps, and various non-recurrent selling [...]
This article throws light upon the five main areas for managerial decision regarding sales force. The areas are: 1. Selection 2. Training 3. Compensation 4. Motivation 5. Supervision and Control. Area # 1. Selection: Proper selection will ensure right person for the right job. It will also facilitate training and supervision. It will reduce selling cost as we shall have [...]