Consumers today have several options to choose from, be it a product or a service. Whether you want to buy a product or book a hotel room, there are several brands out there waiting to serve you. As a result, firms use innovative marketing strategies to help consumers make a decision. Key Concepts Before understanding […]
Blog
The railway children by Edith Nesbit
The railway children by Edith Nesbit: Summary, Questions and Answers. The Railway Children is actually a children’s book written by E Nesbit, and is nicely demonstrates the importance of a family and having a safety net. In the story, the father is falsely arrested for being a spy, and the loss of income of the […]
Public Relations: Tool of the Communication Mix
Public Relations: Tool of the Communication Mix. Public relations is a management activity that attempts to shape the attitudes and opinions held by an organisation’s stakeholders. It attempts to identify its own policies with the interests of its stakeholders and formulates and executes a programme of action to develop mutual goodwill and understanding. Through this […]
Pricing Concepts (Marketing Mix)
Despite the increasing significance of non-price factors in modern marketing, pricing remains an important element of the marketing mix and the only element that generates revenue; the others elements produce costs for the firm. Here we take a look at price and its relationship with costs, quality, and value. We’ll understand the various approaches to […]
Industry or Product Life Cycle
Every new product goes through a product life cycle and the various stages in the life cycle impacts the marketing strategy and the marketing mix, and management decisions within the firm. Before Porter’s famous Five Forces Model came into existence (in 1979), much of industry analysis was conducted on the basis of the product or […]
Tenali Rama and the Dream Kingdom
Tenali Rama and the Dream Kingdom is a folktale. This story is included in the Class-4 English literature syllabus for most ICSE schools. Tenali Rama and the Dream Kingdom: Summary According to folktales, Tenali Rama was a court-jester of King Krishnadeva-raya of the Vijayanagar Empire. Like Birbal, Tenali Rama was witty and intelligent who used […]
Foreign lands by Robert Louis Stevenson
Foreign lands poem by Robert Louis Stevenson. This poem is included in the Class-4 English literature syllabus for most ICSE schools. Foreign lands: Summary This poem describes what a child sees as he climbs to the top of a tree. To a grown-up person the things he sees may seem ordinary, but the child finds […]
The Hero of Haarlem (The Little Dutch Boy)
The Hero of Haarlem by Mary Mapes Dodge – Summary, question and answers. This story is included in the Class-4 English literature syllabus for most schools. ‘Netherlands’ basically means a low-lying country, where the ground is lower than the sea level. As a result, people build dykes all over the country to prevent sea water […]
Marketing Planning (& Marketing Plan)
Marketing Planning is the process of analysing marketing situations, deciding marketing objectives, and implementing various marketing strategies to achieve those objectives. Here’s more on marketing planning and its process. What is Marketing Planning? The Marketing Planning process is a methodical approach to achieve specific marketing goals. It involves several steps such as conducting a situation […]
Zappos Case Study: Training and Development
Zappos cast study as mentioned in: Noe, R. A., Hollenbeck, J. R., Gerhart, B., & Wright, P. M. (2017). Human resource management: Gaining a competitive advantage. New York, NY: McGraw-Hill Education. Questions: What challenges is Zappos facing that may derail its attempt to be the best online retailer? How can training and development help Zappos […]
Consumer Behaviour: Theories and Concepts
Consumer behaviour refers to the physiological process related to the emotions of the consumer. For Marketers, it is important to understand Consumer behaviour as it provides them with a better understanding of the buying pattern of consumers. Consumer behaviour is a key aspect of marketing and there is a considerable body of literature on the […]
Marketing Mix (4P’s and 7P’s Explained)
Marketing mix includes the “set of marketing tools that a firm can use to pursue its marketing objectives in the target segment”. Introduction to 4P’s and 7P’s Marketing Mix Marketing mix refers to activities that a firm carries out to effectively promote its products/services. This is done by adjusting the four Ps of the marketing […]
What is Strategy?
Strategy involves setting goals, determining the best course of actions and allocating resources to achieve those goals. Here’s an introduction to Strategy and Strategising. Strategy is a set of processes and activities which involves: assessing environmental changes to identify opportunities and threats, assessing internal strengths and weaknesses and ability to respond to environmental change, creation […]
Transportation and Infrastructure development in India: Geography Project
Good transportation network paves way for infrastructure development. Infrastructure development in India has contributed to modernizing industries and making her one of the fastest growing economies in the world. Different modes of transportation networks in India have gone a long way in connecting different parts of the country through various government-initiated projects and schemes. Major […]
AIDA model explained
AIDA (acronym for Attention, Interest, Desire, and Action) is an advertising effect model that identifies the various stages in a customer’s journey. It is a popular marketing model, especially for the digital medium. One of the best known classic marketing models, AIDA traces journey of a customer through Awareness, Interest, Desire and Action. Stages of […]
Country Risk Analysis
Doing business or investing in foreign markets, especially emerging countries, carry a certain element of risk. The risks could be from the government that may decide to make changes to the country’s foreign investment rules, or it could be a small buyer deciding to cancel a contract due to some economic concerns. Country risk refers […]
Types of organizations
Organizations consist of several factors such as functions, people, resources, etc. Differing organisational goals and objectives implies a varying degree of importance on each of these factors, that eventually give rise to different types and structures of organizations. Daft, Murphy and Willmott (2010) identify and discuss the differences between small and large organizations and for-profit […]
Learn Indian and World History Through Movies
Learn history through movies. Movies on Mahatma Gandhi Oct 2 is celebrated in India as Mahatma Gandhi’s birthday (known as Gandhi Jayanti), a man who changed the course of the future of India, with his ideas of non violence. Gandhi (1982) While several movies have been made on Bapu, the most successful one was Richard […]
Theory of the Firm
The theory of the firm, a microeconomic concept (in neoclassical economics), states that a company’s main goal should be to maximize profits, to create as big a gap between revenue and costs as possible by allocating resources to maximize net profits. The theory of the firm influences decision-making in several business areas, including resource allocation, […]
General Measure of Enterprise Tendency (GET) test
The General measure of Enterprising Tendency test (GET2) is a measure of enterprising tendency; developed for educational use and self assessment. The General Enterprise Tendency (GET) test measures five entrepreneurial attributes such as: Need for achievement Need for autonomy Creativity Risk taking Internal locus of control Website: http://www.get2test.net Problems with psychological testing of entrepreneurs include the varying […]
