Initially, the term ‘‘market myopia’’ was floated by the Theodor Levitt in the marketing paper. It was published in the ‘‘Harvard Business Review’’ in 1960, where he said that business can do better than just selling their products. His main contention was that the marketer should also focus on customer’s needs & satisfaction, not sales and stuffing customers with their …
Whether you are a small business owner or manager who is engaged in buying and selling of goods and services, you must keep in mind that a manufacturer can’t sell all of his products directly to end customers, therefore, he uses different channels of distribution to deliver the products to their target market. In this article we will discuss wholesale …
What is an Intrapreneurship? Intrapreneurship is a system and a process which allows its employees to develop their entrepreneurial skill & mindset and act like an entrepreneur by working within the company. Intrapreneurship is very close to entrepreneurship where people can learn and polish their skills by working within the company, and then they can start their own business later. …
What is Market Research Definition. Market research is the process of gathering, analyzing and interpreting information about the market, products, and services, consumers and competitors to have a bird’s-eye view and make a more informed decision. It is considered necessary for successful business planning. Business conduct market research for different reasons, for example, looking for new markets and prospects, testing …
What is a Sale A sale is an activity that generates profit or revenue for every business which consequently covers all the costs and expenses. Sale is very important for every organization. However, there are many ways to achieve the sale, easy and difficult both, they vary from business to business. What is a Sales Analysis? As the name implies …
What is Brand Promotion? Brand promotion is the marketing communication strategy to inform, persuade, convince, and influence the decision making process of buyers when they choose a particular brand. It is done with the purpose of promoting brand awareness to create consumer’s interest. So they could make sale and convert them into loyal customer. Brand promotion is required because of …
What is Business Decision Making Process? Whether it’s a sole proprietorship, partnership, SME or large corporation; the success of every business depends on the quality of decision its management is making. However, when we talk about decision, it’s a step by step process which allows business people to take calculated risks by weighing different alternative and contrasting among various opportunities. …
What is Pricing Strategy? Pricing strategy is an activity or a process which any small businesses do to set the prices for their products or services. There are many things to be considered while setting up the prices and these are as follows; Input or raw cost of the product Variable cost Production & distribution cost Trade margin Segment account …
An Overview of Tobacco Industry The global tobacco industry is being majorly dominated by five companies which produce more than 80% of tobacco volume to be sold. The production of cigarettes being produced on an annual basis has increased by 5.7 trillion in 2002 to that of 6.3 trillion cigarettes in 2011. On the other side, cigarette production per person …
