Advertising, sales promotion and personal selling are the three major inter-related tools of promotion which supplement the efforts of each other. Sales promotion is regarded as one of the best tool of promotion as it helps in stimulating customer demand, supplementing advertising activities through cheaper means, facilitating personal selling andRead More →
Advertising is a creative field that acts as the backbone of businesses. Its contribution to the commercial world is huge. Advertising acts the link between the organizations that produce products and the consumers who procure the same. Advertising get the business houses their share of the market by taking theirRead More →
Financial activities of the government have a significant impact on the production, consumption, distribution and income pattern of a country. The Principle of Maximum Social Advantage is the principle that governs the operation of public finance (financial activities of the government) to maximize the economic welfare of the society asRead More →
The law of increasing state activities states that with economic growth and development a nation will experience an increase in the activities of public sector. The ratio of increase would raise the output per capita i.e. ratio of public consumption expenditure to Gross Nation Product will rise and hence GNPRead More →
Individuals in an organization form various formal and informal groups for the purpose of achieving similar goals or to simply exchange ideas, thoughts and attitude with the group members. A group is a collection of two or more individuals who interact with each other and are inter-dependent on each otherRead More →
Organizational change may be defined as “the adoption of a new idea or behaviour by an organization” Organizational Change refers to any modification or alternation in people, structure, job design or technology of an existing organization. An organization must make changes continuously in order to cope up with changes inRead More →
Planning is the conscious, systematic process of making decisions about goals and activities that an organization will pursue in the future. A plan is a pre-determined course of action. Planning is essentially a process to determine and implement actions to achieve organizational objectives. Planning involves the task of deciding inRead More →
A Marketing Budget refers to the estimation of costs required for promotion and marketing of goods and services. It involves allocation of money to different marketing and promotion activities for the future period. It is determined on the basis of – Marketing objectives of the business Competitor`s Marketing Strategies PreviousRead More →
Pricing is the marketing function that involves determination of value of a product or service in monetary terms before it is offered in the market for sale. Price is the marketing mix element that produces revenue. Price refers to the exchange value in terms of money of products and servicesRead More →
Market research refers to systematic collection, recording and analysis of data, aimed towards solving a marketing problem. It is the process of collecting information or facts relevant to the market and analysing and interpreting that information to strategize business decisions. According to Philip Kotler, “Market Research is the systematic design,Read More →
A Product is anything that is offered in a market for sale that might satisfy a need or want. It is a bundle of utilities consisting of various features and accompanying services. According to Phillip Kotler – “It is a bundle of physical services and symbolic particulars expected to yield satisfactionsRead More →
Market Positioning refers to the activities taken by a marketer to create a distinct image of a product, brand, offer or company in the minds of prospective customers or target segment. According to Philip Kotler – “Market Positioning is the act of designing the company’s offerings and image to occupyRead More →