The concept of Line Filling can be defined as the business strategy where the firm plans to increase the number of products in the existing product line. The main idea and intention behind
Mom And Pop Store: Examples, Advantages, and Disadvantages
Mom and Pop name is popularly used for private and family-owned businesses. These stores are run by a family or a small number of employees. These businesses generate small revenue. The term “mom
Primary Industry: Meaning, Types & Example of Primary Industry Explained
Primary industry is defined as an industry that is concerned with extracting the natural resources on the earth so that they can be converted into consumable products. It can be the mining of
Natural Monopoly: Regulation, Advantages, Disadvantages and Examples
Natural monopoly as the name suggests is a type of monopoly that exists in the industry because the infrastructural costs give the largest and in many cases, the first supplier an overwhelming advantage
Multidisciplinary Team: Meaning, Tips, Characteristics, and Advantages
The multidisciplinary team is defined as a group comprised of members that have complementary skills, qualifications, and experience. Their contribution is towards particular objectives of an organization via teamwork. Organizations have realized the
Cost-Benefit Analysis: Advantages, Limitations, Examples, and Relevance
Cost-benefit analysis is defined as an approach to determine the weaknesses and strengths of action in business. It is a decision making concept employed to understand the cost of a given transaction by
Conversion Rate Optimization: Meaning, Important Feature & Tips for CRO
The main objective of any marketing and advertising campaign is generating leads and ensuring conversions. Websites are also created to have conversions oriented traffic. Conversion Rate Optimization, i.e., CRO, is one practice that
Merchandising: Types, Advantages, and Disadvantages of Merchandising
Merchandising is any practice that helps a retailer to sell his merchandise to his customers. In a retail store, the meaning of merchandising is the varieties of products available in-store for selling purpose
Ethics in Retail: Importance and Ethical Practice towards consumers
Ethics in business have become an essential topic of discussion. In retailing, retailers want to earn maximum profit by providing satisfaction to their customers with ethical means. Some certain laws and regulations govern
Prioritization Matrix: Features, Benefits and How to use a Prioritizing Matrix
A prioritization matrix is an analysis tool used for business analysis. It is also a software application for time management so that a person can prioritize effectively. The priority matrix is supported on
Behavioral interview: The 12 Behavioral interview Questions and Answers
The behavioral interview deals in particular situations that a person has come across in real life and how he handles them. The interviewer asks questions and takes an approach that will help him
Needs Assessment: Meaning, Steps, Benefits and Limitations
Needs assessment is defined as a powerful tool for addressing the needs between current as well as desired wants. It is used by organizations for strategic planning to allocate resources, make improvements, and
Inbound logistics: How to improve it & the Importance of Inbound logistics
Inbound marketing is defined as the process of transportation of goods, their storage, and dissemination. On the other hand, the goods that are being exported are referred to as outbound logistics. Concept and
Social Impact: Meaning, Theory, and Different Sectors associated
What does happen when an organization’s positive or negative activities cause effects on the well being or the existence of society? It causes some sorts of social impact; positive or negative, based upon
Multiple Unit Pricing: When you should use it, and the Pros and Cons
Selling a product at a price lower than that of other products of the same category is called Multiple Unit Pricing. This is true, especially in case of bulk orders. Let us breakdown
Pressure Group: Features, Functions, Examples, and Types Explained
A pressure group is a group which consists of like-minded people who works together to influence or to persuade a government or people in authority to change something or to do something. A
