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 …
Communication is the process of delivering a message between two or more parties to create a shared understanding. It comes from the Latin word “communis,” which means to share. Communication can happen in many ways, such as speaking with someone, texting, or showing emotions like a smile or frown. It is essential in everyday life …
Planning is thinking about how to achieve a goal. It can be formal or informal. Informal planning involves discussions and decisions, while formal planning is organized and written. Planning is a key management function. It determines when, how, and who will work to achieve objectives. It is a time-consuming process and is the first step …