Segmentation of Market (Market Segmentation) is concerned with dividing the total heterogeneous population into smaller homogeneous groups of customers who share similar needs and wants. Through market segmentation organizations identify different groups of customers in the market that can be targeted effectively with specific products and services and through aRead More →
Consumer research just like market research follows a series of steps for better decision making. Consumer research is carried out to understand how customers respond to various sales offers and advertising appeals, changes in consumer perceptions and attitude and forecasting future needs, taste & preferences of a consumer. Consumer researchRead More →
Business Statistics Formula Handbook Table of Contents Measures of Central Tendency Measures of Dispersion Correlation Regression Sampling Test of Hypothesis Chi-Square Test Index Numbers Interpolation Extrapolation Measures of Central Tendency – MEAN, MEDIAN, MODE MEAN – It is the average of a given set of observation. Ungrouped data Grouped data DirectRead More →
Section 5(B) of Banking Regulation Act defines Banking as “Accepting, for the purpose of investing or lending, deposits of money from the public, repayable on demand or otherwise” The term bank is derived from an Italian word ‘banca’ and from a French word ‘banque’ both meaning a Bench or MoneyRead More →
The Various Cultural and Social Factors that affect the decision making process for a consumer are: Culture Sub-culture Social Class Reference Group Opinion Leaders Family (1) Culture refers to the way of living of a group of people. It includes knowledge, belief, traditions, morals, values, customs and other such habitsRead More →
To understand Family influence on consumer behaviour lets first understand the important elements of a family. A family is an important element that affects the consumption and disposal of products by an individual. A family may be defined as two or more people living together, related by blood or marriageRead More →
In a Market, different consumers have different needs. As all consumers are unique they exhibit different behaviour while making a purchase decision due to various factors influencing consumer behaviour. Therefore it is important to understand the various factors influencing consumer behaviour. Factors Influencing Consumer Behaviour The Various factors influencing ConsumerRead More →
Consumer Decision Making Process Consumer Decision making is a process through which the customer selects the most appropriate product out the several alternatives. The Consumer decision making process consists of a series of steps that a buyer goes through in order to solve a problem or satisfy a need. They areRead More →
National income is the sum total of money value of all the final goods and services produced within the domestic territory of a country in an accounting year plus the net factor in come from abroad. National Income = Value of Goods + Value of Service + Net Factor IncomeRead More →
A director is the member of the Board of Directors. “Director means a director appointed to the board of a company” sec 2(34) According to the companies act states the board of directors in relation to a company refers to a collective body of the directors of the company. SecRead More →
The term ‘Macro’ has been derived from a Greek word ‘Macros’ meaning ‘large’. Thus, Macro Economics is the study and analysis of an economy as a whole. Macro Economics involves the study of: the behaviour of an economic system as a whole aggregates and averages covering the entire economy behaviourRead More →
Meaning of Company Secretary According to the Companies Act, a company secretary means a company secretary as defined in sec 2(1)(c) of the company secretaries Act, 1980, who is appointed by a company to perform the functions of a company secretary under this Act (sec 2(24)). According to sec 2(1)(c)Read More →