Maximizing profit is the main objective of every business. They use various techniques and methods to increase the sale and revenue. One of the main techniques companies uses is to achieve a cost advantage. Vertical integration is one such method. Today, we’ll discuss vertical integration, its types, and pros and cons. What is Vertical Integration? Vertical integration is a business …
Different companies share their resources and make partnerships and alliances with other organizations when they have to face unexpected circumstances. Today, we’ll discuss the same topic of the joint venture, how it works, its types, advantages and disadvantages, and with examples. What is Joint Venture Strategy? A joint venture is a business agreement between two or more companies and business …
Any successful business person wants to be in charge of its business operations. Sometimes, a businessman has to play a leading role in order to get things in line. Integrations strategy is also about taking control over your business operations. Today, we’ll discuss integration strategy and its types with examples. What is Integration Strategy? Integration strategy also goes by the …
The goal of every business is to grow and be productive. A particular point comes in the product and company’s life when the industry stops growing. The management expands their business into other areas. Diversification is also about expansion and growth. What is Diversification Strategy? Diversification strategy is when a business or a company proceed with the growth and development …
We live in a world of professionalism, niche, and target marketing. Any general business can’t become successful and satisfy the needs of customers if it’s offering everything. It is because you can’t be perfect in every field. Therefore, a business or a company has to choose one area and excel in it. Today, we’re going to discuss the same thing …
Businesses and companies use different methods and techniques to stabilize their earnings. It’s also one of their goals is to grow their business and become more prosperous. They call it expansion. Today, we’ll discuss business expansion strategy and its different types in detail with examples. What is an Expansion Strategy? A business or a company follows the expansion strategy when …
We’re living in a time where businesses and companies are developing policies and organizational structures to decide what suit their interest. When a tough time hits the trades, businesses cut down the business’s redundant departments to ensure financial stability and profitability to the company. Today we’ll discuss retrenchment strategy, its meaning, and types with examples. What is Retrenchment Strategy? Retrenchment …
As we know that the world of business is full of competition and competitors. Businesses and companies always look for new opportunities and ideas to gain a competitive advantage over competitors and win the customers’ market share. Today, we’re going to discuss the concept of making the first move in terms of getting a competitive edge. What is First Mover …
Businesses and companies can’t avoid competitors and competition. It can happen at any time. They would take away your market share and database of customers. Even a small change in market share could greatly impact small businesses. Therefore, businesses should follow the defensive strategy to defend their market share. What is Defensive Strategy? A defensive strategy is a marketing tool …
It doesn’t matter whatever your field of business is, there would always be competitors. A very few companies have the advantage of monopoly. As a business person and a marketer, your plan is always to have a competitive advantage. Today, we’ll discuss offensive strategy, its types, and example. What is Offensive Strategy? An offensive strategy is when a business takes …
