Controlling is a key management function that ensures work is done efficiently and organizational goals are achieved. It helps managers oversee their subordinates, give clear commands, and maintain discipline. By monitoring activities, controlling ensures that organizational resources are used effectively, minimizing waste and maximizing productivity. This function operates at all levels, from top management to …
Definition: Straddle positioning is a strategy where a brand tries to position its product in two categories simultaneously. This helps create a dual product image to serve a larger audience. Brands use a mix of Point of Parity (POP) and Point of Difference (POD) to find segments and position their product. POPs are points of …
Retailing is the process of selling goods and services directly to consumers. It involves all activities that connect products or services to the end users. Unlike business-to-business (B2B) transactions, retailing is strictly business-to-consumer (B2C). To qualify as retailing, a business must sell to the end user, not another business. Retailers can be shops, online stores, …
Product promotion is a key part of product marketing that boosts product sales by increasing awareness and explaining the benefits to the audience. It helps potential customers understand why a product is valuable and how it meets their needs. Product promotion involves various strategies like advertising, sales promotions, personal selling, and public relations. It is …