Bait

Posted in Marketing and Strategy Terms, Total Reads: 1077
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Definition: Bait

The dictionary meaning of bait says it to be something that is used as a luring substance whereas in business terms it can be thought of something which can be used to entice the customers and create the hype.

Its utility can be seen especially before the new product launches where small news serve as bait to entice the customers.

Example:

As an example we can see the TATA Nano’s news of being the cheapest 1 Lac car served as bait which created the all important buzz and kept the customers waiting which eventually led to it being oversubscribed.




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