Definition: Oligopoly is defined as a market structure in which some sellers are selling similar or diversified products. In case when the company sells the same product, it is known as “pure oligopoly”. For example, industries producing petrol, steel, etc. However, when the company of an oligopolistic industry sells a diversified product, it is known as “heterogeneous … [Read more...] about Oligopoly
Marketing Planning
Definition: Marketing Planning provides the framework of the advertising and marketing efforts made for the business. It describes the role and responsibilities of a marketing manager to accomplish the objectives of the company. It gives prominence to the distribution of marketing resources pleasantly and economically and provides a creative direction for marketing … [Read more...] about Marketing Planning
Job Satisfaction
Definition: In general terms, Job Satisfaction implies the comfort level of the employee in their job. For any organization's growth, it is very important that their employees are satisfied with their work and the working environment as it encourages the employees to perform their best in their respective fields. The word “Job Satisfaction” was brought to the spotlight by … [Read more...] about Job Satisfaction
Balanced Scorecard
Definition: Balanced Scorecard method was developed by Kaplan and Norton in 1996. They state that it is a fundamental performance management model used by the companies for enhancing the focus on their strategies and outcomes of the business, considering all the priority factors. In simple words, it is a performance matrix used to provide feedback on the company's internal and … [Read more...] about Balanced Scorecard
Sales Promotion
Definition: Sales Promotion is the marketing actions excluding personal selling, advertising and promotion that provoke customer buying and dealer efficiencies like display shows, written description, trials and distinct non-current selling exercise not in the normal routine. It is one of the significant function of the marketing mix that involves coupons, discount deals, … [Read more...] about Sales Promotion
Demand Curve
Definition: Demand Curve is a precise set-up to describe the relation amidst price and quantity demanded. It is a graph representing the relationships between the price of a product and the quantity of product that customers are pleased with and ready to purchase at the given cost. Demand Curve is drawn on the presumption that all the other factors of demand indexed earlier … [Read more...] about Demand Curve
Selection
Definition: Selection is the procedure of choosing persons who have appropriate qualifications to occupy jobs in the company. The primary function is to select the persons who can favourably perform the job, from the pool of competent applicants. Usually, any selection resolution can lead to four possible outcomes. Two outcomes exert the right decisions, and two would specify … [Read more...] about Selection
Purchasing Power Parity (PPP)
Definition: Purchasing Power Parity (PPP) is a beneficial tool for determining the exchange rate. The Purchasing Power Parity among the two nation’s currencies is the nominal exchange rate at which accustomed basket of services and goods would charge the constant amount in every nation. For instance, Suppose the basket of services and goods that charges. 100 £ in the UK, … [Read more...] about Purchasing Power Parity (PPP)
Partnership
Definition: Partnership is a type of business in which two or more individuals combines their hands to perform an activity and distribute its profits and losses. It constitutes an agreement known as a partnership deed. The Indian Partnership Act,1932 regulate evolution and administration of partnership firms. As the business extends, one requires more fund and more persons … [Read more...] about Partnership
Marketing Vs Selling
Marketing and selling seem to be correlative, however, there is a huge difference between marketing and selling. Both create precise adjustments to the business. Thus, the manager is anticipated to follow the various distinctive class of strategies for the success of their business. Selling has a product target and is often manufacturer driven. It is the only operational … [Read more...] about Marketing Vs Selling