Search Results for: competitive advantage

Competitive advantage : Meaning and top 8 requirements

Competitive advantage

Organizations are using various tactics to increase their sales volume. With the increase in the competition for almost every product in the world, the organizations have to change the marketing techniques they use to create more demand for their products. The concept of competitive advantage has been evolved around this. Competitive advantage is a condition …

Competitive advantage : Meaning and top 8 requirements Read More »

Mass Production: Meaning, 10 Main Advantages and Disadvantages

Mass Production: Meaning, 10 Main Advantages and Disadvantages

Mass production is the process of manufacturing goods in large quantities. These products are usually standardized products that are made using assembly lines or automation technology. Mass production is considered the most efficient production type to manufacture a large number of similar products. Generally, mass production involves several assembly lines and various people are involved …

Mass Production: Meaning, 10 Main Advantages and Disadvantages Read More »

Mass Customization: Meaning, 10 Main Advantages, and Disadvantages

Mass Customization: Meaning, 10 Main Advantages, and Disadvantages

Mass customization is identified as the process of delivering customized goods and services to the market with the intention of satisfying a specific customer’s needs. This is a modern business concept that is also known as made-to-order or built-to-order. It is a technique used by marketing and manufacturing departments of many mass production organizations that …

Mass Customization: Meaning, 10 Main Advantages, and Disadvantages Read More »

05 Advantages and Disadvantages of Acquisition Strategy

05 Advantages and Disadvantages of Acquisition Strategy

Identifying the advantages and disadvantages of acquisition strategy helps the business organizations to make clear decisions when getting implementing an acquisition in the business.  With the increasing complexity in the business environment, the number of acquisitions that happen in the business world has increased. However, it is also identified that any businesses suffer losses due …

05 Advantages and Disadvantages of Acquisition Strategy Read More »

What is Micromarketing? Advantages and Disadvantages

What is Micromarketing?

Micromarketing is a marketing approach to advertising that helps business organizations to target a specific group of potential customers in a niche market. By using micromarketing concepts, the business can market its product and services directly to a targeted group of potential customers. This method is usually used to advertise products or services with a …

What is Micromarketing? Advantages and Disadvantages Read More »

Blue Ocean Strategy: Meaning, Advantages, and Disadvantages

Blue Ocean Strategy: Meaning, Advantages and Disadvantages

Blue Ocean Strategy is identified as the market for a product or a service where there is minimum competition or no competition. This strategy has been developed for searching for business opportunities where there are very few businesses operating in the market in a particular sector and there is no pressure for pricing. In a …

Blue Ocean Strategy: Meaning, Advantages, and Disadvantages Read More »

Business Process Automation (BPA): Definition, Advantages, and Disadvantages

Business Process Automation

Business Process Automation is a modern business concept that evolved with the increase of technology use in the business industry. It is also known as digital transformation. This concept enables the organizations to replace the manual efforts for one or more business activities and execute the tasks using technology.  Usually, this method is used for …

Business Process Automation (BPA): Definition, Advantages, and Disadvantages Read More »

Advantages and Disadvantages of Outsourcing

Outsourcing is a modern business practice of hiring an outside party to get a part of the business process done. There are many advantages and disadvantages of outsourcing that can be seen in real-life scenarios of outsourcing. These advantages and disadvantages of outsourcing are helpful for organizations to decide whether to hire or not external …

Advantages and Disadvantages of Outsourcing Read More »

07 Advantages of the Triple Bottom Line

Triple Bottom Line is an accounting concept introduced to the business industry. It is important to identify the advantage of the triple bottom line concept for any organization to realize why they should start accounting based on this concept. The advantages of the triple bottom line concept can be identified both from the organization’s perspective …

07 Advantages of the Triple Bottom Line Read More »