Retail is the process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit. Retailers satisfy demand identified through a supply chain. The term "retailer" is typically applied where a service provider fills the small orders of many individuals who are end-users, rather than large orders of a small number of wholesale, corporate or government clientele. Shopping generally refers to the act of buying products. Sometimes this is done to obtain final goods, including necessities such as food and clothing; sometimes it takes place as a recreational activity. Recreational shopping often involves window shopping and browsing: it does not always result in a purchase.
Pricing is the process whereby a business sets the price at which it will sell its products and services, and may be part of the business's marketing plan. In setting prices, the business will take into account the price at which it could acquire the goods, the manufacturing cost, the marketplace, competition, market condition, brand, and quality of product.
Marketing Communications refers to the use of different marketing channels and tools in combination. Marketing communication channels focus on any way a business communicates a message to its desired market, or the market in general. A marketing communication tool can be anything from: advertising, personal selling, direct marketing, sponsorship, communication, social media and promotion to public relations.
Online shopping is a form of electronic commerce which allows consumers to directly buy goods or services from a seller over the Internet using a web browser or a mobile app. Consumers find a product of interest by visiting the website of the retailer directly or by searching among alternative vendors using a shopping search engine, which displays the same product's availability and pricing at different e-retailers. As of 2020, customers can shop online using a range of different computers and devices, including desktop computers, laptops, tablet computers and smartphones.
Hilary Hinton "Zig" Ziglar was an American author, salesman, and motivational speaker.
Lis Wiehl is a New York Times bestselling American author of fiction and nonfiction books, and a legal analyst. She is the author of nineteen books, including, most recently, the second in a trilogy called The Hunting Series — Hunting the Unabomber: The FBI, Ted Kaczynski, and the Capture of America's Most Notorious Domestic Terrorist, published by Thomas Nelson/HarperCollins.
A business can use a variety of pricing strategies when selling a product or service. To determine the most effective pricing strategy for a company, senior executives need to first identify the company's pricing position, pricing segment, pricing capability and their competitive pricing reaction strategy. Pricing strategies and tactics vary from company to company, and also differ across countries, cultures, industries and over time, with the maturing of industries and markets and changes in wider economic conditions.
Upselling is a sales technique where a seller invites the customer to purchase more expensive items, upgrades, or other add-ons to generate more revenue. While it usually involves marketing more profitable services or products, it can be simply exposing the customer to other options that were perhaps not considered. In practice, large businesses usually combine upselling and cross-selling to maximize revenue.
Marcus Wilfrid Buckingham is an English author, motivational speaker and business consultant based in California.
The following outline is provided as an overview of and topical guide to marketing:
Kenneth Hartley Blanchard is an American author, business consultant and motivational speaker. His writing career includes 60+ published books, most of which are co-authored books. His most successful book, The One Minute Manager, has sold over 15 million copies and been translated into many languages.
A brand is a name, term, design, symbol or any other feature that identifies one seller's good or service as distinct from those of other sellers. Brands are used in business, marketing, and advertising for recognition and, importantly, to create and store value as brand equity for the object identified, to the benefit of the brand's customers, its owners and shareholders. Name brands are sometimes distinguished from generic or store brands.
Sales process engineering is the engineering of better sales processes. It is intended to design better ways of selling, making salespeople's efforts more productive. It has been described as "the systematic application of scientific and mathematical principles to achieve the practical goals of a particular sales process". Paul Selden pointed out that in this context, sales referred to the output of a process involving a variety of functions across an organization, and not that of a "sales department" alone. Primary areas of application span functions including sales, marketing, and customer service.
Paul Cherry is an American author, professional speaker, and business trainer, who writes and lectures internationally on sales effectiveness, customer-relationship management, and sales leadership. His book, Questions That Sell – The Powerful Process for Discovering What Your Customer Really Wants, made it to BookAuthority’s “Best Sales Books of All Time.” He lives in Wilmington, Delaware, outside of Philadelphia.
Psychological manipulation is a type of social influence that aims to change the behavior or perception of others through indirect, deceptive, or underhanded tactics. By advancing the interests of the manipulator, often at another's expense, such methods could be considered exploitative and devious.
Profit risk is a risk management tool that focuses on understanding concentrations within the income statement and assessing the risk associated with those concentrations from a net income perspective.
Goals of a product strategy:
Brian Tracy is a Canadian-American motivational public speaker and self-development author. He is the author of over eighty books that have been translated into dozens of languages. His popular books are Earn What You're Really Worth, Eat That Frog!, No Excuses! The Power of Self-Discipline and The Psychology of Achievement.
Jim Cathcart is an American entrepreneur, speaker and author.
Jack Mitchell is an American businessperson, author, and motivational speaker. He is the chairman of the Mitchells Family of Stores. In 2005, he was included on Inc. magazine's list of 26 Most Fascinating Entrepreneurs.
