Posted in Marketing and Strategy Terms, Total Reads: 501
Escalation is generally a rapid increase or intensification of something. In terms of marketing, escalation can be considered for prices.
Price escalation is the difference in process arising in foreign and domestic market due to the added transportation and exporting costs. It can also be the general increase in prices of a particular product in the market caused by increasing raw material cost or manufacture cost etc.
Escalation can also be considered in terms of issues escalation for an unsatisfied customer or an employee. It is the step by step process jotted down for the consumers to be aware of whom to reach and what to do when one avenue for probably receiving complaints doesn’t help solve the problem. An escalation matrix is developed stating clearly what to do when different situation arises and how to escalate the problem.