What is a Private Brand?  A private brand is a product brand that's created for or by a particular store or seller. In other words, it's private to that particular outlet. You're not going to find it in other stores. Other names for private brands are dealer brands or store brands.  What do we need to know about Private Brands?  Typically, the store...

What do Marketing Managers Do?  Marketing managers generally are responsible for the following:  Planning (marketing strategy and activities), Implementing those plans (Operational Activities), and Monitoring or controlling the performance of those plans (Checking Results).  Related Topics What is Marketing? Role of Marketing in the Organization Rol...

What is Multi-Level Marketing? Multi-level marketing is an approach that direct sales firms follow for influencing their present distributors to add new distributors who receive a certain percentage of sales from their recruits. The recruits tend to be the downline for distributors who also earn money by directly selling their products to customers....

How is Data Used ins Market Segmentation? Some important ways in which we use date for market segmentation include: Customer Relationship Management - A system for organizing, sorting, tracking, and maintaining communications with specific customers.  Behaviorial Targeting - Tracking a customer's behavior (generally online) for the purposes of ident...

Back To: INSURANCE & RISK MANAGEMENT What is Cession? Cession (or to cede) applies to an insurance provider and the insurance company's insurer (re-insurer). Cession places part of certain losses on the re-insurer. An insurance risk can be transferred to the reinsurer using two methods: proportional and non-proportional reinsurance. Proportional...

What types of things Affect Consumer Decisions?  The influences that often affect or change the decision that a consumer makes, include: Economic Conditions - Economic conditions are a major factor in the decisions we make because they affect our budget - which affects what we can or cannot afford. Economic conditions also affects our confidence. Fo...

What is Advertising?  Advertising is any openly-paid, non-personal communication about a product brand or idea. So it's mass communication that we pay for in order to get our message out. Oftentimes with advertising, we target consumers who are going to actually buy our product and use it. Sometimes though we can also target what we call intermediar...

What does a Salesperson Do? Salespeople generally undertake the following marketing tasks: Lead Generation - This means identifying potential clients.  Qualify Leads - This means identifying potential clients that are actually capable and interested in purchasing a product.  Take Orders - This is the first step in the consummating the sales transact...

How does the Long-Run Average Cost Curve Affect Industry Competitors? The shape of the long-run average cost curve affects  the size and number of firms that will compete in an industry. Where the LRAC curve has a flat-bottomed area of constant returns to scale.  If the LRAC curve has a single point at the bottom, then the firms in the market will b...

Why are Ethics Important in Marketing? Marketing might consist of micro-marketing and macro-marketing. Micro-marketing is what businesses do to sell products. That's what we think of when we hear marketing. But marketing also can be thought of in terms of macro marketing, which is a system for allocating resources. While ethics in micro-marketing is...