After reading this article you will learn about:- 1. Introduction to Promotion of a Product 2. Promotion as Communication 3. Growth of Promotion and Advertising. Introduction to Promotion of a Product: When a company develops a new product, changes an old one or simply wants to increase sales of an existing product or service, it must transmit its selling messages [...]
After reading this article you will learn about buyer’s motive and decision making process for purchasing a product. Meaning of Buying Motive: A motive is a drive or an urge for which an individual seeks satisfaction. Thus, any urge moving or prompting a person to purchase decision is called a buying motive. According to S A. Sherlekar. "A buying motive [...]
This article throws light upon the seven main steps involved in planning and development of a new product. The steps are: 1. New Product Ideas 2. Idea Screening 3. Concept Development and Testing 4. Business Analysis 5. Product Development, Programme 6. Test Marketing 7. Commercialisation. Planning and Development: Step # 1. New Product Ideas: We visualize the detailed features of [...]