Market targeting is the process through which a marketer identifies and evaluates various segments in the market and decides the number and type of segments to be targeted. It essentially involves identifying customer groups who are likely to buy a specific product or service. Basis for Market Targeting Factor toRead More →
The term marketing mix was first coined by James Culliton and was described as 4P`s by Professor Jerome McCarthy. Since then the terms ‘marketing mix’ and ‘4P`s’ have been used synonymously. Marketing Mix refers to the set of controllable factors that a firm can use to influence the buyer’s responseRead More →
STP stands for Market Segmentation, Targeting and Positioning. Most companies use a simple two-step process to formulate its marketing strategy i.e. Target Marketing (STP) Assembling the Marketing Mix 4 Ps Companies develop different marketing strategies to satisfy different consumer groups. The process of selecting the right customer groups for aRead More →
A company’s marketing environment consists of all the factors and forces outside marketing that affect management’s ability to develop and maintain successful transactions with its target customers – Kotler and Armstrong Marketing Environment involves forces that directly or indirectly influence an organisation’s capability to market its product successfully. Factors affectingRead More →
Marketing concepts or philosophies refer to a general thought or idea, which is used by firms to effectively and efficiently achieve their goals through identification and satisfaction of consumer needs and wants. Traditional Marketing Concepts Exchange concept – Under exchange marketing concept the exchange of a product between buyer andRead More →
Marketing is the process of satisfying the needs of a consumer. It starts with the identification of needs and wants of a market and continues till the needs and wants are satisfied. Market – A market is an actual or nominal place where buyers and seller meet to trade goodsRead More →
Micro Economics is a branch of economic analysis that studies the economic behaviour of an individual unit, it may be a person, household or a firm. Managerial Economics refers to integration of economic theory with business practices and application of economic tools for management of a business. According to SpencerRead More →
The economic effects of taxation can be studied under heads. They are: Production Distribution Inflation Depression Consumption Employment According to Dalton, “The best taxation from economic point of view is that which has best or the least bad economic effects” While the classical economists considered tax as a source ofRead More →
Incidence of tax refers to the final resting place of tax payment. It is concerned with the analysis to determine on whom the money burden falls or rests. The person who directly pays the tax to the government, feels the impact of tax. Hence, impact of tax is concerned withRead More →
Performance Budgeting refers to a budget in terms of functions, programmes and performance units (functions, activities and projects) reflecting the revenues and expenditures of an Organization or Government. Performance Budgeting refers to a budget in terms of functions, programmes and performance units (functions, activities and projects) reflecting the revenues andRead More →
Meaning of Deficit Financing Deficit Financing may be simply defined as the excess of expenditure over and above the total income of the Government. The term “Budgetary deficit” can be defined in two ways. – One from the perspective of advanced countries like USA – Budgetary deficit is the loan financing ofRead More →
Taxation refers to the act of levying taxes on the citizens of a country through a well-defined tax structure developed by the government of the country. A Tax is a compulsory payment made by the citizens of a country to the government to meet expenditures of public authorities and for theRead More →