Definition: Global MarketingBusinesses often market their products locally. However, foreign items have been regularly launched in various markets throughout history. Salespeople have modified, updated, or revised their techniques to establish themselves in the local market.Global marketing is defined as "marketing on a global scale, in different nations, reconciling or taking economic advantage of global operational differences, similarities, and possibilities in order to fulfil global objectives." In simple words, when a company sells the same products worldwide, it is called Global Marketing.Examples - The Samsung Galaxy S series is an excellent example of global marketing because it is distributed internationally and ... Read More

The American Management Association defines government markets as, “…one which includes purchases by governmental units-federal, state, and local-that procure or rent goods and services in carrying out the main functions of the government.” Likewise, institutional markets can be defined as, “…a market consisting of schools, universities, hospitals, charities, clubs, and similar organisations which buy goods and services for use in the production of their own goods and services.”Institutional and government markets constitute a not-for-profit market with the primary objective of the general welfare of the people. Low budgets and captive patrons characterize such markets. Companies catering to institutional markets, establish ... Read More

What is Social Impact Marketing?Social impact marketing is a strategy where businesses play an active role in the community, above and beyond their core mission as a business. In social impact marketing, a company/brand actively advocates for change, or to advance a specific cause. At this point, the brand functions as a member of society and not just as a provider of products and services.Social impact marketing is linked to the idea of corporate social responsibility. Simply put, before a company can credibly work for change, it must first embrace its principles in its whole business. For example, a popular ... Read More

What is Marketing?The American Marketing Association (AMA) defines marketing as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society. Over the years, marketing has transformed from being print and TV media-dependent to relying more on the internet because of the reach and scope of the latter. The primary objective of marketing is to take a product or service, identify the ideal/target customers or consumers, and draw their attention towards the product/service.The overall marketing strategy depends on consumers’ perception or understanding of the product, quality, durability, availability, ... Read More

Definition: Marketing MixThe Harvard Business Review defines marketing mix as, “the tool kit that marketers use to do their job, and it has four elements.” Marketing Mix combines four crucial pillars of any marketing strategy, which includes Product, Price, Place, and Promotion. Larger companies need to implement this concept, and, perhaps with a little more importance, the smaller companies need to do the same.What are the 4 Ps in Marketing Mix?The 4 Ps in Marketing Mix-Price, Promotion, Product and Place-to develop an effective marketing strategy was first introduced by Prof. E. Jerome McCarthy in 1960. Based on the industry and ... Read More

What is a Demand in Market?Demand is an economic principle that refers to the desire of consumers to buy a product or avail a service from the market by paying a price. In simpler words, market demand is the demand or need for a product or service in the market. The more the demand for a product, the more is its supply The more a product generates revenue, the more is its demand in marketing.However, there is no direct connection between the price of a product and its demand. A product’s price is determined by the elasticity of demand, the ... Read More

What is Marketing?The American Marketing Association (AMA) defines marketing as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society. Over the years, marketing has transformed from being print and TV media-dependent to relying more on the internet because of the reach and scope of the latter. The primary objective of marketing is to take a product or service, identify the ideal/target customers or consumers, and draw their attention towards the product/service.The overall marketing strategy depends on consumers’ perception or understanding of the product, quality, durability, availability, ... Read More

Numerous performance management solutions have been created to make the process easier and more effective. Key Performance Indicators (KPIs) and metrics enable organizations, business units, initiatives, and people to assess their performance concerning their strategic goals and objectives.Metrics and Key Performance Indicators (KPIS)The main benefit of any KPI is to allow rich data-driven performance dialogues and improved decision-making. A good KPI should necessarily act in such a way that it shows whether an organization is taking the right path toward its strategic goals or not.Listed below are a few of the most often used tools −Evaluations of PerformancePerformance assessments and ... Read More

Majority of the organizations are never satisfied with their performance management system, and hence, they constantly update their approaches to reach their goals in an effective manner.Performance management solutions may benefit organizations significantly by assisting them in aligning and tracking quantifiable objectives, creating continuing feedback loops for coaching, and increasing engagement via recognition. However, ineffective performance management initiatives may severely affect the company.Below are a few ways this can unfortunately happen -Employee DisengagementIneffective performance management schemes may rapidly erode employee engagement. When you have skilled personnel, it is up to managers to identify areas for improvement. Among the development options, ... Read More

Defining performance targets can be quite beneficial since it establishes the expectations for how well a person will work. It is significantly more beneficial to have written down and verifiable objectives. It is even better if the objectives are SMART, which stands for Specific, Measurable, Achievable, Realistic, and Time-bound. Many businesses use a formal method known as Management by Objectives (MBO) to create goals and objectives.Basically, these parameters help to ensure that our objectives are attainable within a certain time frame. The SMART approach eradicates generalities and guesswork, sets a transparent timeline, and makes it feasible for us to track ... Read More