The term ‘prospecting’ relates to locating and qualifying new customers. Prospecting is necessary because - i. Finding customers is a business compulsion for a new and existing product, ii. There is a decline in the existing customer base as customers are taken away by competitors, and iii. It helps in strengthening the existing customer base. Learn about:- 1. Meaning of [...]
The types of pricing strategies can be studied under the following heads: 1. Cost-Oriented Pricing Strategies 2. Demand-Oriented Pricing Strategies 3. Competition-Oriented Pricing Strategies 4. Other Pricing Strategies. The various strategies that can be used to determine the price of the product are:- 1. Premium Pricing 2. Penetration Pricing 3. Economy Pricing 4. Price Skimming 5. Psychological Pricing 6. Product [...]
Brand Personality is the ultimate step towards the brand connect with the consumer. Brand Personality adds a dimension to enhance the visual communication for a brand. The consumer while making the purchase decision looks at how the brand fits into their personality. Brand personality is an outcome of brand identity and brand image, which helps us associate attributes of the [...]