Marketing is the most familiar term in the business sphere. It involves essential strategies to improve sales and business operational performance. On this article, we will take a look at the definition of marketing and…
What Are Different Types of Retail Training?
Retail training is part of your efforts to improve your retail operation and performance. It is a strategy to attract and convince shoppers to purchase your brand’s products from your salesperson. There are several key…
What Is Market Research and Its Types?
Market research refers to the process of gathering information from potential consumers upon the viability of a new product or service. By this method, organizations or businesses select their target market, collect information from them,…
What Are Different Market Forecasting Methods?
Any business owners from various industries will eventually need to make a prediction about market trends and demand to develop better strategies for their businesses. An accurate prediction helps to effectively improve operational performance and…
How Many Types of Retail Audits Are There?
The Retail audit is of a company’s efforts to understand its operational performance. It requires the company’s representatives to collect data on the brand’s products in the retail stores. Furthermore, it ensures that retailers are…
How to Check In-Store Visibility through Auditing?
In-store visibility is part of the important factors that drive sales in the retail sector. Moreover, how your products are displayed and whether they are attractive to consumers or not are part of in-store visibility…
What Are Primary, Secondary, and Tertiary Sales?
In the supply chain, before a product reaches to end customers, it will first reach at least three stakeholders: a manufacturing company or a national supplier, distributor, and retailer. The sales transactions from each level…
What is a Loyalty Program? How Does a…
What Is a Loyalty Program? A loyalty program has become very common these days as part of the marketing strategies. It means to encourage customers to return to the store and make purchase frequently. It…
What Are Focus Groups? How to Set Up…
When conducting market research, researchers need to understand their target market’s opinions, needs, and problems. In order to accomplish this, market research can set up a focus group discussions. They help to provide information that…
Socio-Economic Classification
The Socio-Economic Classification (SEC) was created in 1988 and ratified by the Market Research Society of India (MRSI). It refers to the classification of Indian consumers according to the two parameters: occupation and education of…