Some examples of monopolistic competition include restaurant chains and cereal brands. In monopolistic competition, many producers sell differentiated products that are not exactly alike.
Many examples of monopolistic competition exist, such as food shops, coffee stores and pizza businesses. In monopolistic competition, products are non-homogeneous. Monopolistic competition firms act like monopolies in the short run, but the differentiation of products decreases with greater competition. Demand decreases and average total cost increases, resulting in zero economic profit. Depending on consumer rationality, monopolistic competition can lead to either perfect competition if benefits of differentiation decrease or the other extreme of natural monopoly.Learn More
Telesales is essentially the act of sales representatives contacting people via the telephone to directly promote and sell products. Telesales involves making initial contact with potential clients for the purpose of making direct sales. Telesales is sometimes used as a synonymous term with telemarketing, although telemarketing involves making initial contact then following up with clients through repeat contact.Full Answer >
Some examples of relationship marketing are sending birthday cards to clients, offering reward plans to customers and creating web pages and forums for clients to find the answers to their questions and to become better informed. Making a change based on customer requests is also a relationship marketing technique.Full Answer >
Sales management refers to the efforts of a business to maximize the benefits a company and its customers receive from its sales force. A sales manager establishes goals, meets quotas and hires a staff of the best sales people possible.Full Answer >
Digital marketing is a typeÂ of marketing that involves the promotion of products through electronic media, such as mobile phones, email and the Internet. Digital marketing methods allows companies to assess campaigns and know what is working and what is not working in realÂ time.Full Answer >