Marketing and Sales Questions

Internal marketing is the process of motivating and empowering the employees of a company to work as a team for the overall well-being of the customers and thereby the company itself. This is actually the core to succes of a company. A harmonised effort  within the company is an utmost necessity to provide customers with services at a desired level. If a firm doesn't deliver the service it promises in its marketing campaign, it will fail for sure. And it only can keep that promise when all of its employees at all levels realise what actually it is going to deliver. 

Benchmarking is the process of comparing one's business proceses and performance metrics to industry bests or best practices from other industries. Dimensions typically measured are quality, time and cost.

Innovation is generally considered a process that brings together various novel ideas in a way that they have an impact on society. It differs from invention in that innovation refers to the use of a better and, as a result, novel idea or method, whereas invention refers more directly to the creation of the idea or method itself. Innovation differs from improvement in that innovation refers to the notion of doing something different rather than doing the same thing better.

The supply curve slopes upward because for reflecting the higher price needed to cover the higher marginal cost of production. 

A Product Roadmap is a plan that matches short-term and long-term business goals with specific technology solutions to help meet those goals. It is a high-level visual summary that maps out the vision and direction of your product offering over time.

1. A product roadmap communicates the why and what behind what you're building.

2. It's a guiding strategic document as well as a plan for executing the strategy.

3. Roadmapping is the exercise of building a product roadmap. Roadmaps can apply to new products or services or existing offerings.

Price and quantity supplied move in the same direction. As the price decreases, quantity supplied also decreases and viceversa.