The sequences of various steps in planning are in such a way that they lead to the translation of an idea into action by reaching to the state of establishing of sequences of activities. Each stage contributes to plan formulation in the following ways:
Features of Planning
Planning is an essential element for the success of any business establishment. Most of the renowned businesses that have been able to succeed in their…
Mission of a company – What is mission?
While the essence of vision is a forward looking view of what an organization wishes to become, mission is what an organization is and why…
Vision
Aspirations, expressed as strategic intent, should lead to an end; otherwise they would just be castles in the air. That end is the vision of…
What is Prestige Pricing? A Complete Guide with Definition & Real-Life Examples
In the world of business, pricing strategies can make or break a company’s success. Prestige pricing, for instance, is a fascinating approach. This method works…
What is Product Life Cycle? Definition, Stages & Examples
The product life cycle is the depiction of different stages a particular product goes through, from being introduced to the consumers (called Introduction) to being…
A Study on McDonald’s Arch Deluxe Burger Brand Failure
As well as the McLibel Trial, McDonald’s has also experienced a number of more conventional marketing problems in recent years. Most of these problems have…
Sales Forecasting
Sales forecasting is a difficult area of management. Most managers believe they are good at forecasting. However, forecasts made usually turn out to be wrong!…
What is Pricing? Definition, Types, Strategies & Examples
Pricing is a price-fixing process that businesses use to fix the price value that a manufacturer will receive for offering its products or services. An…
Pricing Strategies
The only time when price setting is not a problem is when you are a “price-taker” and have to set prices at the going rate,…
Business Mission
A strategic marketing plan starts with a clearly defined business mission. Mintzberg defines a mission as follows: “A business mission describes the organization’s basic function in…
Marketing Strategy of Zara – Zara Marketing Strategy
Handling 7000+ stores across the world and successfully popularising 8 fashion retail brands globally under its umbrella brand architecture has helped Inditex (parent company of…
SWOT Analysis of McDonalds (Updated 2025)
Let’s examine the SWOT analysis of McDonald’s as a global leader in fast food to understand its strengths, weaknesses, opportunities, and threats. Established in 1940…
Advantages of Decentralized Sales Force
A decentralized sales force constitutes of people placed at various strategic points across locations. These strategic points might be across a region, across a state…
Product Concept: Definition, Types, Importance & Example
What is a Product Concept? A product concept is the description of the characteristics, quality, and performance of a product at the initial stage in…
