Found 459 Articles for Business

Difference between Obamacare and Romneycare

Vineet Nanda
Updated on 27-Jan-2023 10:49:43
According to Barak Obama, the Affordable Care Act (aka Obamacare) borrows heavily from similar state-level legislation (aka Romneycare) implemented in Massachusetts in 2006 and passed by then-governor Mitt Romney. The ACA exchanges' less-than- smooth launch, combined with recent revelations that many people who buy health insurance on the individual market are receiving cancellation notices, has some Americans wondering if the new law will work. President Barack Obama cites the success of Massachusetts' health-care reform as proof that, despite a rocky start, the law will work to provide nearly universal coverage to all Americans. What is Obamacare? At the national and ... Read More

Common Cause Variation Vs. Special Cause Variation

Gargi Tomar
Updated on 23-Jan-2023 10:36:36
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

Top 10 Agile Methodologies Every Business Should Incorporate

Shiwanshi Pandey
Updated on 20-Jan-2023 16:17:04
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

What are False and Misleading Advertisements?

Akshaya Daga
Updated on 20-Jan-2023 12:04:12
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

Murray's psychogenic needs and Consumer Behavior

Akshaya Daga
Updated on 20-Jan-2023 11:49:45
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

How Do Consumers Make Purchase Decisions?

Akshaya Daga
Updated on 20-Jan-2023 11:44:23
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

How Can Companies Promote a Social Cause with Their Advertising Strategies?

Akshaya Daga
Updated on 20-Jan-2023 11:35:24
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

Why are Brands Moving to Native Advertising?

Akshaya Daga
Updated on 19-Jan-2023 15:04:49
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

What is the Societal Concept of Marketing Management?

Akshaya Daga
Updated on 19-Jan-2023 15:01:07
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

What is the Selling Concept of Marketing Management?

Akshaya Daga
Updated on 19-Jan-2023 14:56:56
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
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