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The goal of every business is to sell. Selling goods and services ensure profit and revenue for the company. Profit is necessary for the survival of the business in both the long term and the short term. Firms can sell their products to consumers in two ways− Ensure that the price of the product is low and that it is easily accessible to the consumers so that they can make impulsive purchases, known as transactional-based marketing. Create strong and healthy customer relationships to ensure that the consumer chooses the company's product or service regardless of price or availability. ... Read More
Consumers go through the decision-making journey for a product or service when they feel the need for it. Henry Murray has beautifully explained the different needs of consumers that, in turn, guide their behavior and develop their personalities. Firms can target particular personalities by creating relevant advertisements and products to fulfill their needs. In this article, we will learn aboutWhat are the different types of needs. According to Murray, what are the five basic psychogenic needs? How do these needs create different personalities? How can the firms target the different needs of the consumers as well as what they have ... Read More
The end goal of any company is to sell its product and service to the consumer. Sales are the only part of the business that brings in revenue for the company. All the other wings or activities are cost-bearing activities for the business. Hence, it is important for firms and their sales and marketing executives to understand the consumer’s decision-making process. The consumer decision-making process may seem like a subjective and mysterious thing, but we can divide it into five broad steps. These are the general steps that every consumer delves into before making a purchase decision. Consumers’ Decision-making ... Read More
We are a generation of people who believe in a sustainable future. For us, growing together is the only growth that matters. Hence, it is critical for businesses to be sustainable. Businesses today are not only focused on profits and customer satisfaction but also on community happiness. Businesses today have corporate social responsibility because they are working and thriving in a common space shared by all. Part of the profits of the firm and its manpower is being utilized on different social causes that they believe in. In this article, we will be taking a look at the concept of ... Read More
In this tutorial, we are going to learn about how to create a JSON representation of a Line object using FabricJS. A Line element is one of the basic elements provided in FabricJS. It is used for creating straight lines. Because line elements are geometrically one-dimensional and do not contain an interior, they are never filled. We can create a line object by creating an instance of fabric.Line, specifying the x and y coordinates of the line and adding it to the canvas. In order to create a JSON representation of a Line object, we use the toJSON method. Syntax ... Read More
The attrition rate in India has surged from 6% in 2020 to 20.3% in 2022. The attrition rate refers to the number of people who have left the organization in the current period. Attrition rate = (total number of people leaving the organization voluntarily + total number of people leaving involuntarily) / {(total number of employees at the start of the year + the total number of employees at the conclusion period of the year) / 2} The attrition rate in India is supposed to increase in 2023 as well. As a result, it is critical for employers to look ... Read More
The world has opened up, as have the number of issues affecting an individual and their lifestyle. Employee satisfaction has suffered greatly in recent years as we have transitioned to digital infrastructure and a more technologically advanced setup. With the pandemic, lockdown, war in Ukraine, and growth rate of inflation, to name a few, employees have become more detached from their work and the company. The work-from-home model has myriad benefits, but at the same time, it has also created the problem of job switching. Companies now struggle with the retention of employees. There is always another company willing ... Read More
We live in an era where connecting with global talent could not have been easier. Companies can hire talent from across the globe at minimal cost, and individuals can search for and apply for jobs of their interest from across the globe at almost no cost. Hiring today happens with applications like LinkedIn, Naukri, Monster.com, Hirst, Flex C, Facebook, Blue Learning, Freelancer.com, and a thousand other websites and applications. This is also known as "hiring through social media." In this article, we will be understanding some of the tactics so that the candidates can have a better ranking in these ... Read More
Today, we no longer depend upon the big traditional media channels for our content consumption. Gone are the days when we used to wait for our radio slots, news show timings, or the morning newspapers for content. We create and consume content on a real-time basis. For us, a minute late is old news today, and content is unlimited; this is where the concept of the "creator economy" comes into play. In this article, we will be deeply diving into the concept of the "creator economy, " when it bloomed, and how it affects business today. The Concept of the ... Read More
The 4 Ps (product, price, place, and promotion) of marketing dictate the behavior of every producer in the market. These four factors help the producer decide the basic layout of the business. What do they want to produce? Where do they want to sell the product? What price do they want to charge for the product? How do they want to advertise the product? It is time that we take a deeper look at the concept of pricing the product. The pricing factor is of utmost importance for the business because this is the only branch that brings ... Read More