Time Line' watch manufacturing company is a renowned company marketing wateches. It performs various activities like, market analysis, product designing or merchandising, packaging, warehousing, branding, pricing, promotion and selling. The company maintains good customer relations through various follow up activities. This helps the compnay in procuring repeat sales orders.
(a) Name the concept related to the activities mentioned in the above paragraph.
(b) Explaina any two features of the concept identified in part(a)