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…
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…
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…
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…
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…
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…
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…
Inbound logistics: How to improve it & the Importance of Inbound logistics
Inbound logistics focuses on the processes in the supply chain that bring materials into a business or organization. This includes tasks such as managing suppliers,…
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…
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…
What are Pressure Groups? Definition and Role of Pressure group
A pressure group is a group that consists of like-minded people who work together to influence or to persuade a government or people in authority…
Price Competition: Meaning, 6 Types, Advantages, and Disadvantages
Price competition is a form of competition by which a product or service can compete with other products or services in the market only on…
Loss Leader: Characteristics, Examples, Advantages, and Disadvantages
A loss leader is classified as a pricing strategy where the product is sold at a lower price than the existing market price in order…
What is Product Launch – Examples, Types, Advantages
A product launch is an event which is organized to launch a product in the market. The product can be completely new or can be…
Sales Canvassing: Meaning, Strategy, Tips, Advantages, & Disadvantages
. Sales canvassing can be defined as a sales activity where you make the first contact with the prospect without prior appointment. Sales canvassing can…
