Additional Mark-On What is Additional Mark-On? A mark-on is the difference between the cost of good and its selling price. It is also referred to as the mark-up price. Mark-on price is the price at which the company achieves profit, after all its production costs have been incurred. Production costs include all the fixed costs…
Add-On Sale What Is an Add-On Sale? An add-on sale refers to an ancillary item sold to a buyer of a main product or service. Depending on the business, add-on sales may represent a source of significant revenues and profits to a company. An add-on sale is generally suggested by the salesperson once the buyer has made…
Adaptive Selling What is Adaptive Selling? Adaptive selling is a custom or tailored approach to selling, which takes into account the type of customer, the sales situation and the feedback received. Identifying an individual’s social style is an important feature of adaptive selling. KEY TAKEAWAYS Adaptive selling is adapting of sales processes and terms to the…
Adaptive Marketing What is Adaptive Marketing? Adaptive Marketing is the new approach taken by marketers for strategizing marketing efforts by actively tracking and responding to consumers. It refers to changing or reforming (adapting) a firm’s marketing mix to suit to the particular geography in which the firm is operating. Adaptive marketing is an approach that…
What is Actual Value? Actual value can be defined as the total actual cost incurred in making a particular good or providing a particular service. This is incurred by the manufacturer or service provider and may differ from the amount that he gets on selling that particular good or providing that particular service. Value in…
Actual Product It is a consumable product, which can also be a service or idea that a customer is purchasing. Contrary to the overall consumer perception of a product, there are actually three different levels which include the core, actual and the augmented product. The core product is also known as an added value benefit or what…
Convenience Store What Is a Convenience Store? A convenience store is a retail outlet that sells a limited range of prepared and ready-to-eat foods, bottled and fountain beverages, household staples, tobacco products and periodicals. Convenience stores are typically small in size, are open extended hours, and, in most cases, are staffed by a relatively small team of…
What is Activity Report? Activity report is an overview of the worker’s activities over a period of time, it shows specific tasks, activities, assignments, projects, and so on that has been done. Its purpose is to provide a detailed overview of what a particular worker has been doing. The activity report can take the form of,…
Active Marketing Active Marketing Meaning Active marketing requires action on the part of the small business. Active marketing may mean networking with other businesses or working on building your referral pool. It also includes selectively advertising to drive in new business. This type of marketing is deliberate and purposeful. It takes effort. Active marketing often…
Active Listening What is Active Listening? ‘Hearing’ is an involuntary act of acknowledging a sound or noise. ‘Listening’ is a voluntary act wherein the listener makes an attempt to grasp the external sound or noise. ‘Active Listening’ is an advanced form of listening, wherein the listener not only grasps the sound or words, but also understands the…
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