Labour relations incorporate the processes involved in between Management & Union or Employers & Workforce for making effective decisions and channelising an organisation. With the…
Unit Price – Definition, Examples and Calculations
You must have faced situations when you are supposed to compare prices of items that are not sold in equal quantities. If it has confused…
What is Quality Assurance (QA)?
Quality Assurance (QA) is the practice of assuring that the quality of a product or service throughout its life cycle, from design to delivery meets…
What is Product Quality? 7 Steps of Products Quality Management
In simple terms, you can understand product quality as a characteristic that is a further conglomeration of different features for fulfilling the customer needs and…
Training Needs Analysis – Features, Components, Levels and Benefits
Training Needs Analysis is the process of identifying the training and development needs of the workforce, so they can perform their jobs more effectively to…
Quality Audit – Definition, Meaning, Types, Advantages
Definition Quality audit is a process of examination and verification of procedures, records, and activities of a quality system that is carried out by an…
Recency Effect – Meaning, Examples and Role
As per many psychological theories, when you will be asked to recall the items in any order from a list, there are brighter chances that…
Strategic Groups Definition – Meaning And Examples
Definition Strategic groups can be defined as a group of companies within a particular industry that follows a similar strategy or similar business model. The…
Value Based Pricing – Definition, Advantages, Disadvantages
Has this ever occurred to you how companies decide the price of their products? Do they pick a number randomly? Do they consider essential factors…
Master Brand – Definition, Benefits, Strategy
The name of the brand is essential for a company. The image of the brand of a company impacts the sales of products and profit…
Organisational Commitment – Definition, Meaning, Components
Definition Organisational commitment is described as the psychological attachment of an employee for the company he works. It plays a crucial role in assessing the…
Visual Merchandising – Definition, Elements, Objectives
Retailers use different strategies and methods to attract customers and to boost their sales. Visual merchandising is one of those methods that are used by…
Market Space – Definition, Meaning, Characteristics, Components
The market space in marketing is defined as a virtual market place in the commercial world, where the limitations of physical boundaries are not applicable….
Premium Pricing – Definition, Strategy And Market Advantages
Pricing of a product plays an essential role in deciding the value of a product in the market. Companies use different pricing strategies to introduce…
Production Planning – Definition, Objectives, Need, Types, Importance
Definition Production planning is defined as the planning of production models in an organization or an industry. To serve different customers, it makes use of…
