Calculation of Interest:
Banking business mainly consists of accepting deposits and lending. Bank pays interest to the depositors, on lending to customers; the bank charges a certain interest at a specified rate. The interest is payable either at periodic intervals or at the end of a loan period. Interest calculation can be Simple interest or compound interest.Read More »
The marketing function of a business entity includes many activities which includes the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services, to create exchanges that satisfy individual and organizational objectives and systematic management of the process of collecting, evaluating and disseminating market information.Read More »
Promotion is that part of the marketing mix where the producer or seller communicating
about the products or brands they sell, its utility, benefit etc with the customers. Marketing communications are the means by which firm’s attempts to inform, persuade and remind consumers directly or indirectly about the products and brands they sell. The ultimate success of the marketing endeavors is dependent on how effective the promotion strategy has been in reaching the market and influencing the consumers appropriatelyRead More »
One of the four Ps of marketing mix is “Place” or “Distribution”. In the economic terms, any product, being capable of giving customer satisfaction needs to have “place” and “time”‘ utility. All endeavors of production will come to nought, if the products do not reach the consumers for consumption.Read More »
Price is the second major element of marketing mix. Price is the only one that generates
revenue, while other elements incur cost. Price is the amount of money paid for a product by the consumer and charged by the manufacturer. Prices can be determined by negotiation between the parties or by the forces of demand and supply.
There could be a system of fixed prices or dynamic prices.Read More »
Philip Kotler has defined a product as “anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need”. Products have a personality which include the core features, associated features, Brand name and logo case, package and label (example SB account of a Bank)Read More »
Any individual who purchases goods and services from the market for his/her end-use is called a consumer. In simpler words a consumer is one who consumes goods and services available in the market. Every customer shows inclination towards particular products and services. Consumer interest is nothing but willingness of consumers to purchase products and services as per their taste and need.
Consumer Behaviour is a branch which deals with the various stages a consumer goes through before purchasing products or services for his end use.
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Social Marketing / Networking:
People of all ages tend to find social networking sites that deal with the subject of their interest and follow the conversations happening there. Internet being a global phenomenon, you will find people from all over the world coming together to talk and share information about their particular topic of interest. It had never been easier that this to make friends and socializing over the internet. Marketers can learn a lot and get real feedback about their product and experiences from the customers online and besides initiate interest in others who are watching and following the topic.Read More »