Business Process Re-engineering is a task that has many positive and negative repercussions. Even though the process looks simple and easy to implement, there are many advantages and disadvantages in BPR process. When you are planning to implement a BPR project in your company, it is always best to analyze the advantages and the disadvantages …
A business continuity plan is a major component in the risk management process in any type of business organization. It can be easily misunderstood as a business contingency plan due to the similarity in the usage of planning. However, a business continuity plan has a broader perspective for business activities. In simple terms, a business …
Business Continuity Plan: Meaning and Importance of Having a Business Continuity Plan Read More »
What is Revenue Management? Revenue management is the process of adjusting the pricing of individual products and services using analytics with the intention of increasing the total sales and profits generated by the product or service. By applying the necessary analytics that can predict consumer behavior at the micro-market levels, businesses are expecting to maximize …
Competitor analysis is one of the most important parts of the marketing plan of any business. When entering a market, it is majorly important to know about the competitors who provide the same type of products to the same market segment. Competitor analysis provides an insight about the products they are selling pricing techniques, their …
Competitor Analysis – 08 Steps Guide to Analyze Your Competitor Read More »
Understanding the types of knowledge is important for any type of business when forming a knowledge management strategy. Different types of knowledge cater to different purposes of business organizations and help the business to grow and achieve its goals and objectives. Even though gaining and sharing knowledge was a business practice from long ago, the …
03 Main Types of Knowledge: Explicit, Implicit, and Tacit Knowledge Read More »
Knowledge Management is one of the modern topics in the growing business world. It is the process of creating, structuring, sharing, using, and managing the knowledge, information, and experience within an organization. The main purpose of knowledge management is to improve the efficiency of organizational activities and preserve the knowledge within the business organization. The …
Brand image is one of the most important aspects of any product or service. It is considered that a brand image can make or break the success of a business in its target market. Brand image is identified as the customer perception about a particular brand based on their experience with the products related to …
Identifying the factors influencing customer satisfaction is highly important for businesses. No matter what their internal goals and objectives are, the success of any business relies on the level of customer satisfaction it can create for the target market. Since the final purchasing decision is mainly depending on the level of satisfaction the customer is …
Identifying the pros and cons of relationship marketing helps businesses to make a clear decision whether the relationship marketing method is suitable for the profit maximization of their product. Relationship marketing has become a new trend in the modern business world that has the ability to create a long-term bond with the customer by providing …
There are many factors influencing consumer behavior that have been identified. Consumer behavior has a direct impact on the success or the failure of a product. It is highly important for the business to identify the factors influencing consumer behavior before launching its marketing plan. Identifying the factors influencing consumer behavior helps the business to …
