A product champion is someone who sees value in a product, and creates and develops the product in a systematic fashion. The product champion entices decision makers to invest, sell or promote the product. The product champion also keeps the product in consumer’s minds. So what kind of…

Areas are zoned for commercial or residential use. To ensure your project complies with state and local building codes, a certificate of inspection is issued. Basically, an existing building or a newly erected structure is eligible for inspection but have not yet been approved for residency or business…

When a customer makes an order with your store, their experience doesn’t end there. Your company is basically accountable to that customer for every minute that passes until that order arrives on their front doorstep. If you take a week longer to deliver the item than you advertised,…

What is Consumer Goods Marketing? Plain and simple it’s the promotion of your products aimed directly at the public. Rather than promoting your product to organizations that sell the product for you, marketing is directed to the individual buyer. With consumer goods marketing, your strategy will be different…

Vendor management is a complex task. It can also have far-reaching implications. A good relationship with your vendors can mean on-time delivery and efficient inventory management. On the flip side, a poor vendor management system can lead to bottlenecking and other inefficiencies. Vendor management comes down to a…

Sometimes referred to as your sales funnel, or “money that is on the way”, pipeline management is simply a way of managing potential sales by cultivating relationships with consistent follow up and keeping those potential customers aware of product updates until they are ready to make a purchase.…

Imperfect competition describes a market in which the conditions that characterize a perfect competition are not present. To understand imperfect competition you must first understand economics of it and each aspect it entails; the production, distribution and consumption of products and services. With that said, an imperfect competition…

A mutual agency relationship is just like a marriage, it binds each partner to one another, for better or worse. If one fails, everyone fails. Mutual agency is the right of all partners to represent the company’s normal business operations and the authority to bind it to mutual…

Penetration pricing is usually the method that is used when a business introduces a new product. This technique allows a business to introduce a product at a lower price point in hopes of attracting new customers. This is a good strategy for business owners to use if they…

According to a study by William Sherrard, professor of information and decision systems at San Diego State, retailers and e-tailers have almost universally liberalized their return merchandise policies. Many retailers have adopted a policy that the customer is always right and, therefore, if the customer doesn’t want what…