The concept of Line Filling can be defined as the business strategy where the firm plans to increase the number of products in the existing…
Mom And Pop Stores : Examples, Advantages, Disadvantages of Mom And Pop Shops Business
Mom and Pop name is popularly used for private and family-owned businesses. These stores are run by a family or a small number of employees….
Primary Industry: Meaning, Types & Example of Primary Industry Explained
Primary industry is defined as an industry that is concerned with extracting the natural resources on the earth so that they can be converted into…
Natural Monopoly: Regulation, Advantages, Disadvantages and Examples
Natural monopoly as the name suggests is a type of monopoly that exists in the industry because the infrastructural costs give the largest and in…
Multidisciplinary Team: Meaning, Tips, Characteristics, and Advantages
The multidisciplinary team is defined as a group comprised of members that have complementary skills, qualifications, and experience. Their contribution is towards particular objectives of…
Cost-Benefit Analysis: Advantages, Limitations, Examples, and Relevance
Cost-benefit analysis is defined as an approach to determine the weaknesses and strengths of action in business. It is a decision making concept employed to…
Merchandising: Types, Advantages, and Disadvantages of Merchandising
Merchandising is any practice that helps a retailer to sell his merchandise to his customers. In a retail store, the meaning of merchandising is the…
Ethics in Retail: Importance and Ethical Practice towards consumers
Ethics in business have become an essential topic of discussion. In retailing, retailers want to earn maximum profit by providing satisfaction to their customers with…
Prioritization Matrix: Features, Benefits and How to use a Prioritizing Matrix
A prioritization matrix is an analysis tool used for business analysis. It is also a software application for time management so that a person can…
Needs Assessment: Meaning, Steps, Benefits and Limitations
Needs assessment is defined as a powerful tool for addressing the needs between current as well as desired wants. It is used by organizations for…
Inbound logistics: How to improve it & the Importance of Inbound logistics
Inbound logistics focuses on the processes in the supply chain that bring materials into a business or organization. This includes tasks such as managing suppliers,…
Social Impact: Meaning, Theory, and Different Sectors associated
What does happen when an organization’s positive or negative activities cause effects on the well being or the existence of society? It causes some sorts…
Multiple Unit Pricing: When you should use it, and the Pros and Cons
Selling a product at a price lower than that of other products of the same category is called Multiple Unit Pricing. This is true, especially…
What are Pressure Groups? Definition and Role of Pressure group
A pressure group is a group that consists of like-minded people who work together to influence or to persuade a government or people in authority…
Price Competition: Meaning, 6 Types, Advantages, and Disadvantages
Price competition is a form of competition by which a product or service can compete with other products or services in the market only on…
Loss Leader: Characteristics, Examples, Advantages, and Disadvantages
A loss leader is classified as a pricing strategy where the product is sold at a lower price than the existing market price in order…
What is Product Launch – Examples, Types, Advantages
A product launch is an event which is organized to launch a product in the market. The product can be completely new or can be…
Sales Canvassing: Meaning, Strategy, Tips, Advantages, & Disadvantages
. Sales canvassing can be defined as a sales activity where you make the first contact with the prospect without prior appointment. Sales canvassing can…
Marginal Product: Definition and Examples of Marginal Product Explained
The marginal product, according to economics, is defined as the change in the output, which is a result of increasing one more unit of relevant…
What is Trade Show Marketing? Best Practices, Steps, and Examples
Trade shows offer the opportunity to market products or services directly to potential customers, partners, and influencers. Trade show marketing is a specialized form of…
Qualitative Research: Meaning, and Features of Qualitative Research
Qualitative research is defined as a method in which scientific method is used to collect non-numerical data, to determine and understand attributes and behavior of…
Strategic Alliance: 4 Types, Examples, Advantages, and Disadvantages
A strategics alliance can be defined as an agreement between two or more companies to achieve common business goals by sharing their strengths and resources….
What are the Different Types of Goods? The Most Comprehensive List
Goods are the things that people use to satisfy their needs or wants. Goods can be of different types and can be produced through different…
Types of Listening: What it is, and 18 Different Type of Listening
Listening can be defined as a process of receiving information in the form of sounds or action and reacting or responding to that information through…
Break-even Point: Meaning, Advantages, Disadvantages and Examples
The breakeven point is defined as the point where both total expenses and total revenues are equal to each other. It is the production level…
Technical Specifications: Importance & How to write Technical Specification
A technical specification is an important document of every business project which contains detailed information for the technical requirements. A project manager needs to get…
Types of eCommerce & different types of eCommerce Businesses Platform
Ecommerce is a term used for selling and buying products and services over the internet platform. It also referred to as electronic commerce or internet…
What are Trade Shows? Best Trade Fairs, Exhibitions & Shows in 2023
Trade shows are events where businesses from different industries meet to showcase their products and services, network with potential customers and partners, collect customer feedback,…
Competition in Marketing : Meaning, and the Types of Market Competition
Businesses vying for the attention of the same customers are known as competition in marketing; it’s a fierce race to demonstrate value and stand out…
Marketing Communication: Meaning & Types of Marketing Communication
What are Marketing Communications? Marketing communications, or MarCom, are essential for engaging and informing potential customers about a brand’s offers. MarCom is comprised of a…
13 Types of Learning and many sub types
Learning is an important part of human life. Learning starts as soon as a person is born, and a person keeps learning until he died….
Pareto Analysis – Definition, Principle, Applications, Chart and Examples
Definition Pareto analysis is defined as a tool that is used for decision making in which multiple courses of action are competing to gain attention….
Importance of Management For Every Business Organisation
Management has an important role to play in an organization, and it plays an important role in the success of the organization. In this article,…
Business Model of Groupon and How Does Groupon Make Money?
Founded in the year 2008, Groupon is an American Company that offers Online Deal Marketplace. The business model of Groupon revolves around connecting local consumers…
Business Model of IBM and How does IBM Make Money?
Founded in the year 1911, IBM is multilingual IT Company based in America. The business model of IBM or International Business Machines Corporation revolves around…
Asynchronous Communication: Examples & Benefits
Asynchronous communication refers to a type of communication where one person shares information and then waits for a delayed response from the recipients. To put…
What is Business Structure? Common Business Structures Explained
Business structure is defined as an organizational framework for carrying out commercial activities. It is a legally recognized structure that is characterized by its category….
Capacity Utilization Rate – Definition, Meaning, Importance
Capacity utilization is defined as the extent to which the manufacturing and productive capacities of a country, plant, or business entity are utilized in generating…
Economic Order Quantity: Meaning, Formula, Assumptions, & Advantages
Economic order quantity is also popularly known as EOQ. It is defined as a production scheduling concept as it is used to determine the frequency…
Feasibility Study: Meaning, Understanding, Steps, Examples, and Types
Feasibility Study is defined as the assessment of a project that has been proposed by someone. It is analysis and evaluation of a system and…
