Every piece of data that is analyzed will exhibit varying degrees of variation. Even if we try our best, we can never achieve identical results in every situation. Variation is a type of numerical value that shows how widely people in a group are affected by different factors. The concept of variance is a type of numerical measure that shows how the data is distributed across various points in a given area. If you get a variance of zero, it means that your results are exactly the same as the expected value. On the other hand, a high variance indicates ... Read More

Agile project management has been quite popular among project managers over the past several years. The extensive use of Agile is not unexpected given that it closes numerous gaps left by conventional project management techniques and aids businesses in meeting challenging customer expectations. Additionally, Agile practically eliminates the possibility of a project failure. When it comes to implementing Agile in business, numerous methodologies are accessible. In this tutorial, we will learn about the top 10 Agile methodologies that every business should incorporate. What is Agile? Agile project management is an iterative method of carrying out tasks. Due to ... Read More

In today’s market, the only thing that sells is what's on the shelf. Companies have to advertise their products or services to consumers. As it is, there are thousands of brands offering similar, identical, or substitute products to consumers. The point of difference for the companies could be how they advertise their products or services. Advertisements help the consumer know the brand, its products, and its benefits. Companies can run advertisements through various channels − Newspaper articles Magazines articles Television advertisements Radio shows social media platforms and others. A good advertisement can always steal customers. It assists ... 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 market, where we see 10 new brands coming up every hour, it is difficult to grab the attention of the consumer and keep them associated with the company and its products. A company needs to advertise its product in order to ensure sales. Product advertisements − Create awareness among consumers about the existence of the product. Helps consumers make their purchase decisions. Helps the company acquire new consumers. Advertising ensures brand familiarity, among other things. Sales, or revenue, is the only thing that will keep the company running. No matter how excellent the product is, it ... Read More

Companies must survive and thrive in the "red ocean" market. The red ocean signifies the cutthroat marketing environment that we are in. For companies to thrive, they must ensure that they are marketing their products to consumers and society as a whole. Marketing, in simple terms, means selling products that satisfy consumers. The five different concepts in marketing are Production Concept Product Concept Selling Concept The holistic concept or the societal concept Marketing concept These concepts help us a lot in understanding how the firm operates and what they are targeting. Societal Concept of Marketing Management Firms primarily ... Read More

Change is the only constant. The market is always evolving, both in terms of the products and services that firms offer and in their ways of selling those products and services. If we had to list the various stages of market evolution, it would be − Production Concept − Here the focus is on the number of goods being produced or the number of customers being served. Product Concept − Here the entire focus is on product improvisation. Selling Concept − Here the entire focus is on aggressively selling the product or service to the consumers or customers. Salespeople ... Read More

Businesses operate on different strategies to survive in the cutthroat marketing environment. Some aim at improving the quality of their product or services, some aim at advertising their product in the best manner possible, some aim at providing maximum consumer satisfaction, some aim at an enhanced public image, and some aim at increasing the production of goods and services. The majority of firms try to inculcate two or more of these strategies to get an edge over their competitors. We have the entire evolution of marketing management based on the five major goals listed above. The five basic concepts of ... Read More