Sales Concept The concept of sales has been termed by Philip Kotler as sales-orientation. In this situation, instead of lack of goods, lack of customers was felt. Advertising budgets increased, sales power expanded, branding, packaging and sales promotion became important...

Meaning and Definition of Consumers Behavior In the present age of complex competition, marketing without studying consumer behavior is unprofitable, as consumer behavior affects the quality and price of the product or service. Consumer behavior refers to the behavior of...

Meaning and Definition of the Product Modification Each product has its own life-cycle, that is, every product must at some point of time reach its degradation state and become obsolete, but every producer wants that the life-cycle of his product...

Meaning and Definition of Packaging Nowadays packaging is of great importance. For this reason, consumers find goods in the market packed in paper boxes, beautiful shaped vials and tin or plastic boxes. Packaging is the art by which goods are...

Concepts of Marketing Marketing in general terms refers to the buying and selling of goods, but in the present time it is used in a broader sense. It includes both the pre- and post-purchase activities. According to some scholars, in...

Meaning and Definition of Marketing Strategy From time to time some new competitors enter the market or some competitors leave the market. Some competitors keep on changing their marketing strategy. In such a situation, there are two options before the...

Meaning and Definition of Consumers Behavior Consumer behavior refers to the study of purchasing habits, buying tendencies, buying patterns and purchasing motivations of consumers or customers. Therefore, under consumer behavior, the following four things are ascertained that (1) When do consumers...

Meaning of Product Innovation Such changes made in a product that completely replace the product and present it in a new form is called product innovation, such as the radio and transistor maker gave birth to television. In other words,...

The object life-cycle is similar to that of human life. Just as human life cannot survive indefinitely, in the same way the life of every thing is also limited and that too cannot be sold indefinitely without making necessary...

Answer: Different price policies are adopted at different stages of the life cycle of a commodity. Their description is given below. I. Pricing at Presentation Stage Creating a demand for a new commodity by inventing it and bringing it in...