The product planning process starts either with a recognised customer need or with a basic product idea established through market research or other sources. Regardless of the pedigree of the product idea—it may originate from a salesman, a customer, the company's advertising agents, the technical research and development department, the suggestions box or the chairman's wife— market research should be [...]
The term 'market' refers to the aggregate of all demand for a particular product or service, arising from the aggregate of all consumers, both existing and potential for the product. It means that the whole group of consumers of a particular product constitutes the 'market' for that product. Philip Kotler states, "A market consists of all the potential customers sharing [...]
Personal selling is a part of promotional- mix and it is an art of person-to-person communication for persuading prospects or consumers in the sales process. For introducing effective marketing system, balancing of other marketing elements like, product development, pricing, distribution system, advertising etc. should be organised along with implementation of personal selling methodology. "Personal selling is an ancient art. Effective [...]