A traditional management strategy known as scientific management places a focus on the scientific analysis of work processes in order to increase job productivity. F.W. TAYLOR, FRANK GILBERT, LILIAV GILBERTH, and HENRY GANTT, were the earliest advocates of scientific management. Fedrick Winslow Taylor “The father of scientific management” is how Taylor is referred to. He … Read more
In our modern society, management occupies a very important role in the business world irrespective of the type or size of the business. The development, prosperity, or growth of a business undertaking is fully dependent on an efficient management system to achieve the desired result. The management coordinates different factors, leading to an increase in … Read more
Basic Concept of Management: Management is a functional concept and can be defined as “It is an effort for getting things done to achieve the predetermined goals of the concern through coordination of human and other elements. But as its scope is so wide it is not an easy task to define management. It is … Read more
Consumer behavior is described as follows: “The decision-making and physical activity involved in evaluating, acquiring, using, and disposing of goods and services:” This definition brings up two crucial difficulties. a) Who or what constitutes consumers? b) What kind of decision-making procedure do they use? These questions’ responses give a broad overview of consumer behavior. A “customer” … Read more
Definition (Given by American Marketing Association) “Sales promotion, in a specific sense, “includes those sales activities that supplement both personal selling and advertising, coordinate them, and help to make them effective, such as displays, shows and expositions, demonstrations, and other non-recurrent selling efforts not in the ordinary routine.” Comprehensively Sales Promotion is defined as “In … Read more
1st Part: Importance of Advertising The various functions of advertising can thus be listed below: Stimulates Demand: By informing consumers about the availability of a product in the market, advertising stimulates latent needs and reinforces the around needs. Everyone agrees that advertising influences overall consumption to some extent. Strengthens other components of the promotion mix: … Read more
