What is Public Relations? Public relations (PR) refers to a field that is concerned with the management of how information about an individual or a company is spelled out to the public. Individuals or business entities which operate in the public are subject to having their information and details disseminated to members of the general public. Altho...

What is Brand Recognition? Brand recognition refers to the magnitude at which a product or service can be instantly identified by the consumers using its attributes. These attributes include the products logo, slogans, colors packaging, tag line, and its advertising strategy. Brand recognition is also known as an aided brand. It is rendered successf...

Why are Sales Relationships Important?  Building an maintaining professional relationships is important for salespeople for the following reasons: Assisting Intermediaries (Distributors, Retailers, etc.) in making sales Providing Tech Support to those purchasing the product Building Trust among B2B customers and consumers Increasing Customer Retenti...

What is Constructive Receipt? Constructive receipt is a doctrine used by the Internal Revenue Service (IRS) that requires individuals and businesses to pay income taxes on their earnings even if the earnings have not been received. When the IRS applies the constructive receipt, whether an individual or business possesses the income does not matter, ...

What is an Elasticity Coefficient? Price elasticity or elasticity coefficient is an economic term that shows the percentage change in quantity demanded due to a change in the price of goods and services. Back to: RESEARCH, ANALYSIS, & DECISION SCIENCE How is  Elasticity Coefficient Used?  Price elasticity is simply percentage change in quantity ...

What is Cross-Selling? Cross-selling refers to the act of offering customers complementary products and services, particularly to those who have been making purchases. The idea behind cross-selling is to enrich the shopping experience of customers by proposing items that would completely satisfy their overall purchase. How does Cross-Selling Work? C...

Why is Price Fixing Harmful?  Price fixing, as as discussed in our article What is Price Fixing?, is collusion between sellers to maintain a certain price level to increase profits and to limit competition. in the meantime. So why is this a bad thing? First, it means that the market interference. In other words, the normal rules of supply and demand...

What is Influencer Marketing? Influencer marketing is a way of marketing that focuses on influential people instead of a targeted market using social media. It recognizes people who have influence over prospective customers and adjusts marketing actions around those specific influencers. How does  Influencer Marketing Work?  Influencer marketing ent...

What is Back Door Selling? Back door selling is defined as a strategy used by sales personnel to extract information about a company in order to have an edge over other investors. This is a dishonest tactic and it is regarded illegal. Sellers use this strategy to cleverly extract information that the buyer might ordinarily not want to disclose. Thro...

What is Social Listening?  People increasingly use social media as a source of learning about products and brands. Organizations try to keep up with what all is being said or written on social media.  Social listening is technically tracking mentions of an organization its brand, its products, or its competitors, on social media. In other words it's...