Can you just make a product without any research and start selling it? Technically, you can, but it is only possible if you are offering something people consume on a regular basis, such as FMCGs, eatables, etc. All you have to do is give them “good taste,” advertise your business effectively, and things will start moving. However, can you do …
Interestingly, not many of us know what precisely the business is. Yes, we all hear this term daily, yet it seems difficult for us actually to define or explain it. That is why we are going to discuss what is business? Its concept, types, forms, and much more. So stay tuned if you are up for learning something new today. …
The importance of customer satisfaction is simply undeniable in any business. But is customer satisfaction enough for a company to achieve its business or corporate goals? Yes, customers are the backbone of your business, but you cannot thrive in a market if you don’t have enough sales volume to achieve your financial goals. In fact, even if you have happy …
When you’re developing a business strategy, then it requires you to analyze various internal and external factors that are impacting the company. The internal analysis especially allows you to find out the growing areas and gain a competitive advantage. You have to know the in-depth knowledge and inner-functionality of the company while conducting the internal analysis. Today, we’ll discuss what …
The external analysis allows businesses to make changes in the product, services, and strategies in order to meet the needs and wants of customers. It doesn’t matter whether you’re a financial analyst, marketer, or business owner, the external analysis would help your business to grow and proliferate. Therefore, it’s significant to comprehend the component and benefits of the review. Today, …
A single-product business may find it easier to advertise or market its product. In fact, even if a brand is selling two or three products, marketing will be a little easier because the think tank will have to focus on one product or service. On the contrary, what if a business is selling multiple products of different types? What if …
Marketing is not a business practice where you just start “bombarding” your customers with those “pointless” funny commercials or flashy ads. It is a complete process that goes step-by-step to achieve tangible results. So how do you market your business? Of course, you can only do it by planning and moving things in order. In other words, you market your …
How do you achieve your yearly organizational goals? Do you just set an annual figure and start chasing it blindly? Or, do you set semi-annually, monthly, weekly, or even daily milestones? Which one is the right way to achieve your long-term goals? Obviously, setting short-term goals is a better approach to achieve bigger targets. Moreover, you also need a strategy …
Businesses and companies use various strategies to attack their competitors, where the attacking company actively targets the defender company. It often happens when a company enters the market. Today, we’ll discuss the frontal attack strategy; its types, pros, and cons, and examples. What is Frontal Attack Strategy? A frontal attack strategy is when a company directly targets the market leader/s. …
When a company’s performance, market conditions, or country’s economy are in the declining phase, then businesses employ various strategies to minimize its impact. Turnaround strategy is among one of them. Today, we’ll discuss what is turnaround strategy, its types, and various stages with real-life examples. What is Turnaround Strategy? A turnaround strategy is a form of retrenchment strategy when a …
