Definition: Differential pricing, also known as dual pricing is a two-price system or segmented price system in which the seller charges different prices for the same product for different buyers. With respect to demand and supply in the market, this system sets us a free market system. The basic concept of this system is that it is a fluctuating price system, i.e., some … [Read more...] about Differential Pricing
Marketing Research
Definition: Marketing research is a system of identifying and analyzing the information related to the techniques and problems of marketing. It is a study of the market such as consumer, buyer and seller’s behaviour about the prices, their purchasing power, brand loyalty and many other marketing activities. It helps the marketers in determining the contribution of various … [Read more...] about Marketing Research
Departmental Accounting
Definition: Departmental accounting is an accounting system used by organizations to manage the accounts of their various departments in separate books, i.e., for every department separate trial balance and profit and loss account is prepared, and at the end of the year balances of each department gets transferred to general profit and loss account, prepared to find out the … [Read more...] about Departmental Accounting
Bridge Loan
Definition: Bridge loan is a short-term financing facility provided by the financial institutions to the individuals or the company in case of immediate cash requirement before a long-term or regular loan is approved by the bank. However, whenever the regular loan gets approved, this bridge loan amount must be repaid to the bank along with the interest amount for the time it … [Read more...] about Bridge Loan
Induction Training
Definition: Induction training implies providing training to the newly recruited employees in the organization so that they will act as a productive asset for them. These training programmes are conducted by the companies according to the complexity level of the work allotted to the employees and the size of the business. The time period of such training programmes also … [Read more...] about Induction Training
Sunk Cost
Definition: Sunk cost is the cost that has already been aroused in the past and cannot be recovered at any cost. Thus it is also known as historical cost. It is the written down value of the plant after reducing the reclaim value of the plant. However, this cost is not relevant for making the decisions as it has already been incurred and cannot be refrained by taking decisions … [Read more...] about Sunk Cost
Internal Control
Definition: Internal Control system is the arrangement of controls by the enterprise in the interest of the business of the organization in an organized and productive manner. It ensures obedience to management policies, protect assets and ensure the integrity and efficiency of the records as far as possible. The specific components or elements of an Internal control system … [Read more...] about Internal Control
Inventory Valuation
Definition: Inventory valuation or stock valuation is the method of identifying the actual value of the inventories at the end of the year. The foremost step of valuation is to ascertain the physical inventories of the company, i.e., raw material, work in progress goods, and finished goods. The main objective behind the valuation of inventory is to determine the true income … [Read more...] about Inventory Valuation
National Income
Definition: National Income or (NNPfc) is a sum of factor income earned by the nation in the form of monetary value from the economic activities such as income from the production of final goods or providing services in a financial year. The level of national income can determine the level of aggregate demand for goods and services. In the above definition, economic … [Read more...] about National Income
Social Marketing
Definition: The word “Social Marketing” was introduced in 1971 to specify the increasing use of marketing tools and techniques to advertise social belief, objectives and actions. It has developed into a social reform management technology associating outline, application and management of programs designed for raising the prominence of social idea, purpose or application amidst … [Read more...] about Social Marketing