Market structure can be categozed under four types; a) perfect competition Under perfect competition, it consist of buyers and sellers that trades in uniform goods such as wheat, rice or financial securities. Buyer or seller does not have much effect in determining the market price. For instance, if seller increases the product price, buyer can…
In order for specific industries to survive the crisis during weakening economy, initially they need to identify, analyse and established and thereafter plan the company’s capacity requirement. Before the business can do this they need to know where the company stands ie industriess need to establish the gap between its current capacity standing and the…
Before a potential seller decides to open run a bussiness, he or she need to critically analyse its surrounding or other factors. This can be achieved by critically analyse its surrounding using PEST analysis. PEST is the acronym for Political, Economic, Social and Technological factors. Through PEST analysis, one can understand overall situation of the…
Marketing challenges can be in term of communication, the coming of the new media, in profiling the customer, political developments and legal barriers, pressure on accountability and Evolving organizational role. These can be explained as follows; Communication In marketing, communication it self can be a challenge. In the 80s there were only few TV channels.…
The basic role for marketing research is getting to know your customer. Market research involves in analyzing the consumer behavior. Through the analysis, marketing people will be able to get the into the details of who buy it, what they buy, where they bought, and why they bought. Through this research, managers will able to…
Data Collection is the main core activity to any type of research study. Inaccurate data collection can impair the finding of a study. Ultimately it will lead to invalid results. Data collection can be classified in two types, quantitative and qualitative. The Quantitative data collection methods, it rely on random sampling and structured data collection…
For millions of people, Facebook has become an integral part of daily life. For some, it is even an integral part of their jobs, or day to day business. Premier Websites have made it possible for businesses to develop their contact lists, handle their relationships and created the ideas of viral marketing. It is because Shopping and social…
No matter what aspect of your life you are talking about, goal setting is a crucial factor. Goals and objectives provide us a blueprint that determines a course of action and aids them in preparing for future changes. Especially it becomes more important if you want to be a successful home business owner. Each step you make…
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