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 …
Being famous is equally important as creating a value-added product or service in today’s world. Corporations spend hefty budgets on their marketing strategies in the form of sponsorships, advertisements, social events, etc. But, these are paid forms of marketing. One extremely important objective of devising marketing strategies is to strengthen public relations. Talking about public relations, companies often go for …
What is the fastest way to reach a customer directly? Generally, some of the quickest channels for businesses to reach out to their customers or potential customers are fax, telephone, or internet. These types of practices have been in business for a long time, and they had their fair share of controversies. But, apart from this minor element, this mode …
Do you ever get annoyed when commercial ads interrupt your favorite TV show? Or your social media account is bombarded by different promotional ads? Well, this is a common thing nowadays. With fearsome competition among brands, every business is trying to promote its brand identity at all possible channels. However, this often irritates your target audience if you just keep …
