Being an entrepreneur you to deal with many challenges and make small decisions, and those small decisive steps would determine the success of the organization. Like who to hire and when to share the responsibility, they may seem small steps. But they would impact maximizing your growth, sales, and pricing models. But when you have a product/service and ready to …
Personal selling was one of the leading techniques for a very long period in history. In fact, it won’t be wrong to say that it was probably the only form of product or service selling when business activities became common. However, globalization and the advent internet and social media have reduced personal selling to one of many selling and marketing …
Diversity is something fundamental in every aspect of life, let alone business. In fact, the business itself is a part of our lives. Diversity in business means if you are offering a product, how is it different from others? If you are offering services, how are they different from others? or how are your marketing tactics different from others? When …
Companies run their businesses in a market comprised of various competitors. The presence of other competitive businesses is good for your business and customers. Because healthy competition keeps you on track and customers would have more choices. Sometimes, businesses and companies join hands and share resources in order to deal with a certain situation. What is Strategic Alliance? A strategic …
One of the main objectives of many businesses and companies is to gain a competitive advantage by either removing competition or gaining an upper hand over competitors. Horizontal integration is one such strategy that helps businesses to achieve their goals. Today, we’ll discuss horizontal integration, its pros and cons, and examples. What is Horizontal Integration? Horizontal integration is a process …
Cost minimization is one core ingredient in any business’s objectives. Whether it is manufacturing cost, factory overheads, or marketing costs, businesses always look for cost-effective methods. Yes, traditional marketing strategies can consume big budgets, but there are many other inexpensive marketing strategies, such as piggyback marketing, that can help companies to convey their message cheaply. But what is piggyback marketing, …
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 …
Customer service is like a “life support system” for any business. A business does all the hard work from market research to product manufacturing, from marketing to distribution. But, if a business has weaker customer support, it not only misses out on a strong competitive advantage, but it may backfire as well. What is Customer Service? Customer service means the …
