NEW DELHI, Aug 5: An Indian management expert has filed for patent of a business method, which he claimes, can be used to save huge spending on advertisements and boost sales.
Sanjiv Sethi, who is in the core committees of several institutes and industry bodies like CII, Ficci and IIT has filled a patent application for ‘Trade Relationship Management’ (TRM).
“The 16 steps which I have mentioned under the TRM, will immensely help corporates to save hundreds of crores of their advertisement spendings in addition to making their retail sales bounce back multifolds from the so called slowdown,” Sethi said.
He said that his business method include spreading awareness and provide incentives to consumers about the products.
“The method is very helpful for both organised and unorganised retail sector. It is a kind of ready reckoner for the corporates on trade relations,” he added.
Sethi said that the TRM would also help in maintaining consistency of market. (PTI)
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