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Promotion of a Product (With Diagram)| Marketing

After reading this article you will learn about:- 1. Introduction to Promotion of a Product 2. Promotion as Communication 3. Growth of Promotion and Advertising. Introduction to Promotion of a Product: When a company develops a new product, changes an old one or simply wants to increase sales of an existing product or service, it […]

Buyer’s Motive and Decision Making Process (With Diagram)

After reading this article you will learn about buyer’s motive and decision making process for purchasing a product. Meaning of Buying Motive: A motive is a drive or an urge for which an individual seeks satisfaction. Thus, any urge moving or prompting a person to purchase decision is called a buying motive. According to S […]

Management by Objectives (MBO)

The management by objectives concept was first presented by Peter Drucker in 1954. MBO was designed to help management establish clear and measurable goals with time component to constrain the period in which the objective is to be met. These clear & specific objectives are then compared with the actual achieve results to know how […]

Factors Influencing Manager’s Environment

This article throws light upon the five main factors influencing manager’s environment. The factors are: 1. Competition and the Global Economy 2. Ethics and Social Responsibility 3. Information and Technological Change 4. Employment Values and Individual Rights 5. Importance of Non-Profit Sector. Factor # 1. Competition and the Global Economy: Quite recently, Japanese management consultant […]

Main Aspects of Manager’s Role | Management

This article throws light upon the two main aspects of manager’s role in an organisation. The aspects are: 1. Accountability 2. Effectiveness and Efficiency. Aspect # 1. Accountability: The difference between managers and other people in the organisation is that only managers are held responsible, or accountable, not only for their own work but also […]

Management Skills: Top 2 Sources

After reading this article you will learn about education and experience as sources of management skills. Education as a Source of Management Skills: In recent years, there has been a tremendous increase in the demand for management education in all countries — developed and developing. The mushroom growth of management institutions is a proof of […]

Principles of Management Lecture Notes

Here is a compilation of notes on the principles of management:- 1. Definition of Management 2. Socio-Economic and Cultural Significance of Management 3. Organisation and Management 4. Nature 5. Dynamics 6. Managerial Acts 7. Process of Management 8. Challenge to Management 9. Theories of Management 10. Levels of Management 11. Management as an Art, a […]

Top 6 Characteristics of Sound Goals | Management

This article throws light upon the six main characteristics of sound goals. The characteristics are: 1. Goals have to be Specific 2. Goals must be Measurable 3. Goals have to be Time-Specific 4. Goals should Focus on Results, not on Activities 5. Goals should be Challenging but Realistic 6. Goals must be set by the […]

How to make Goal Setting Effective? | Management

This article will guide you about how to make goal setting effective in an organisation. 1. Understanding the Purposes of Goals: Perhaps the best way to facilitate the goal-setting process is to make sure that managers understand the two main purposes of goals. The first is to provide a target to shoot for. The second […]

Strategic Planning Process: 4 Key Benefits | Management

This article throws light upon the four key benefits of strategic planning process in an organisation. The benefits are: 1. Reaction to Environment 2. Defining Company Mission 3. Formulation of Long Range Objectives 4. The Specification of Programme Policies and Strategies. Benefit # 1. Reaction to Environment: The strategic planning process is invaluable to a […]

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