by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing
What is Manufacturer’s Suggested Retail Price?The Manufacturer’s Suggested Retail Price (MSRP), also known simply as the list price, is the price at which a manufacturer recommends that a particular product be sold in retail outlets. The MSRP is also...
by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing
What is a Warranty?A warranty is an assurance or guarantee that a manufacturer or a seller of a product would repair or change the product purchased by a buyer if it breaks or malfunctions during the warranty period. Here are the key points to note about warranties:...
by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing
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...
by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing
What is an A-B Split?The A-B split is a test method where specific markets campaigns or elements performance is monitored. In this method of marketing, users are randomly divided into two groups, one representing a control group, and the other one representing a test...
by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing
What is the Buying Power Index?The Buying Power Index is a tool used by retailers to assess the purchase power or buying power of a region over another. When retailers have the opportunity of selling their products in different locations, before selecting which...
by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing
What is Brand Potential Index?The brand potential index (BPI) refers to the relationship between a brands development index, and it’s market development index for a particular market. Users of BPI use it to forecast the future sales and to also organize for...
