Promotion is the publicizing of a product, organization, or venture so as to increase sales or public awareness. Companies/firms promote their business and product in order to introduce a new product onto the market or increase sales of an existing ...
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Product Life Cycle
anusheAlike anything a product also has a life cycle. A product life cycle has five stages, introduction, growth, maturity, saturation and decline. Introduction is the most difficult and expensive stage. It is when the product has to launch itself and ...
Marketing Mix: 4Ps of Marketing.
anusheA marketing mix is the combination of product, price, place and promotion in order to make a perfect product. In order to start a business, the producer needs to create a product, which fits the needs the needs and wants ...
Market Research: Primary Research and Secondary Research.
anusheMarket research is the systematic gathering and interpretation of information about individuals or organisations using statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision making. There are two types of market research; ...
Communication: Effective communication and barriers.
anusheCommunication can be defined as the process by which a message is exchanged from a sender to a receiver. It can be either internal or external. Internal communication is the one one done within the business, and external is the ...
E-Commerce: Benefits and Drawbacks.
anusheE-Commerce is a digital market where goods and services are sold. It has many benefits and drawbacks too. It is an easier and convenient way, and people use it to save time and energy. People can also compare prices, instantly, ...
The Break-even Chart
yaebizA break-even chart is a line graph used in break-even analysis to estimate when the total sales revenue will be equal to the total costs, or the point where loss will end and profit will begin to accumulate. Usually, the ...
The 4P’s of Marketing
yaebizThe marketing mix is a business tool used in marketing and by marketers. The marketing mix is often crucial when determining a product or brand’s offer, and is often associated with the four Ps: ▪️ Price: What the price of ...
Equilibrium Price, Equilibrium in the Market
yaebizThe equilibrium price is where the supply of goods matches demand or the price at which the quantity of a product offered is equal to the quantity of the product in demand. Equilibrium is the state in which market supply ...
Methods of measuring a business
yaebizFollowing are the methods of measuring a business: ▪️ Amount of sales turnover ▪️ Amount of profit ▪️ Capital employed ▪️ Stock market valuation ▪️ Number of employees ▪️ Number of shops/offices These methods however are not always completely accurate ...
E-Commerce
yaebizE-commerce (electronic commerce) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the Internet. These business transactions occur either business-to-business, business-to-consumer, consumer-to-consumer or consumer-to-business. E-commerce allows consumers to ...
Entrepreneurs
yaebizEntrepreneurs occupy a central position in a market economy. Entrepreneurs seek disequilibrium, a gap between the wants and needs of customers and the products and services that are currently available. The entrepreneur then brings together the factors of production necessary ...
Joint Ventures
yaebizA business arrangement in which two or more parties agree to pool their resources for the purpose of accomplishing a specific task. This task can be a new project or any other business activity. In a joint venture each of ...
Franchise Businesses
yaebizA franchise is a business system in which private entrepreneurs purchase the rights to open and run a location of a larger company. The franchising company, or franchiser, signs a contractual agreement with the franchisee, explaining in detail the company’s ...
Limited Companies
yaebizA limited company is an organisation that someone can set up to run their business, it’s responsible in its own right for everything it does and its finances are separate to the owners’ personal finances. Any profit it makes is ...
Business Partnerships
yaebizA partnership is a single business where two or more people share ownership. Each partner contributes to all aspects of the business, including money, property, labor or skill. In return, each partner shares in the profits and losses of the ...
Problems with Business Growth.
anusheMajorly, the purpose of a business is to gain profit, hence expansion is inevitable. However, while expanding a business might face many problems. Usually, businesses try to expand as quickly as possible, and face diseconomies of Scale, which are the ...
Ways to Grow a Business
anusheThe growth of a business is either internal or external. Internal growth occurs when a business expands its existing operations, however external growth is when a business takes over or merges with another business. An example of internal growth would ...
Sectors Of Business Activity.
anusheA business is divided between three sectors; primary, secondary and tertiary. Each sector deals with a section of a business. The primary sector is smallest one, dealing with the extraction of natural resources, e.g mining. However, the secondary sector deals ...
Needs, Wants, Scarcity
yaebizAs you probably know, we all have needs and wants. Needs are things we require to live, like water. I’m sure you can live without a Rolex for as long as you live but you can’t live without water for ...
The Purpose Of Business Activity
yaebizBasically, as humans we all have needs and wants. Needs are the things we can’t live without while desires are things we can live without. We as humans have unlimited wants. Business activity exists to satisfy these needs and wants.
Should developing countries pay more attention towards education or improving business standards?
zaheer1Country’s fundamental structure stands on its literacy rate, in other means you can say that its education which is the backbone of a country’s growth. For developing countries, they should put more efforts and extra money on their education sectors ...