Importance of PESTLE Analysis Everything is not in the control of an organization. You can control the internal elements (strengths and weaknesses) of your business but you can not control factors that are outside of your business. Conducting a pestle analysis can be of great importance to your organization in the following ways. Exploit Opportunities…
Importance of Business Environment A business environment includes all internal and external factors that have an influence on your organizational performance. Keeping a close eye on what is going on in the business environment has been a critical task for managers today. Following are some of the importance your business can get by clearly understanding…
Businesses i.e. organizations can not operate in isolation they have to regularly interact with people, customers, competitors, and other parties that have a hand in their performance. Every business is surrounded by the components of the environment it operates. They directly or indirectly have affected business performance. Here we will understand what the business environment…
Now marketing has entered the new millennium. The challenges businesses face in marketing activities have increased. There was a time when existed only a few companies where customers were influenced by companies’ products but now companies’ products are influenced by customers’ preferences. With the call of the digital era, globalization, and the emergence of a…
Since human civilization began different types of marketing have started to form. Marketing has now reached the digital form which was first started with its traditional or offline form. Since digital marketing was born in the 1990s, it has led to the development of various other forms of marketing. Now marketers can invest in many…
Companies make products, sell, and satisfy customers but they overlook society and environmental well-being. Do you think society’s well-being is important while serving the consumer’s needs and wants at the fullest level? Let’s find out what the societal marketing concept says about this. What is Societal Marketing Concept? The societal marketing concept is a philosophy…
In this 21st century, fragmented marketing is better than coordinated marketing, or coordinated marketing is better than fragmented marketing, what do you think? Is it necessary to work together all marketing components of a business to achieve marketing goals, profits, or brand image? Let’s see what the holistic marketing concept has to say about this….
Do you think product quality is the main factor people purchase products? Let’s find out what the product concept of marketing says about this. What is a Product Concept? The product concept is the marketing philosophy that believes consumers will prefer the products which have the highest quality, features, and performance at given prices. It…
Suppose you made a product – do you think it is essential to inform people about your product so that they purchase from you? Let’s what the selling concept of marketing tells about this. What is Selling Concept? The selling or sales concept is a marketing philosophy that relies on aggressive selling methods and heavy…