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Showing posts from December, 2018

Understanding of Company Management: Abhay Lodha

Company management consists of various stakeholders like directors, officers, managers and shareholders who assist the company towards the fulfillment of its business objectives. Management has been defined as “the process of planning, organizing, leading and controlling the efforts of company members and of using all company resources to achieve stated company goals.” Therefore, the purpose of management is to maintain control over the company’s actions and performance, and simultaneously to lead, inspire and direct the people working in the company. The Corporate Management is often broken down according to the divisions or the function to be performed. The extent of the managerial roles can be found in various fields of the organization such as the human resource department, the IT department, the legal department and the executive department and so on. The various management positions are given a specific staff to handle. The success of any corporate organization mainly

Understanding of Market Research: Abhay Lodha

Market research is a process of gathering, analyzing and interpreting information about a product, service or company to be offered for sale in that market. Research is conducted to know the past, present and potential customers for the product or service, their characteristics, spending habits, location and needs, the industry as a whole and the competitors. Understanding of industry shifts, changing consumer needs and preferences, and legislative trends and other things can shape where a business chooses to focus its efforts and resources. This is why market research is important for companies. Types of Market Research: There are 2 basic types of market research conducted in the market: Primary Research :   Primary data is first-hand information a person or a company gather oneself, or with the help of a third party (market research firm). Secondary Research: Secondary data is the data which is already existed in the market in the form of public information, such as the

Understanding of Marketing Communication Mix : Abhay Lodha

MARKETING COMMUNICATION MIX : The Marketing Communications Mix is the specific mix of advertising, personal selling, sales promotion, public relations, and direct marketing. Communications mix is used by a company to pursue and achieve its marketing objectives. Advertising :  Advertising is one of the most expensive methods of marketing communication. Any paid form of non-personal presentation and promotion of ideas, goods, or services by an identified sponsor. Sales promotion : You can easily promote your product, increase sales and customer demand, improve your public presence and interact with potential customers. Promotions can be done with frequent discount coupons, product samples, exhibitions and sponsorship programs. It is form of short-term incentives to encourage the purchase or sale of a product or service. Public relations (PR) : It involves informing the public about the services and products of an organization. Some firms do it either by a PR department or by h