"Time Line" watch manufacturing company is a renowned company in marketting watches. 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 company in procurring repeat sales orders.
a) Name the concept related to the activities mentioned in the above paragraph.
b) Explain any two features of the concept identified in part a) .