There are several basic kinds of models used for making business decisions. The models are:- 1. Analog Model 2. Iconic Model 3. Verbal Model 4. Mathematical Model. 1. Analog Model: An 'analog' model is a physical representation of the real world. A mock-up of an airplane is an analog model. An architect may place a mock-up of a building to [...]
The following points highlight the top nine marketing functions of a business. The functions are:- 1. Buying 2. Selling 3. Transportation 4. Storing 5. Standardisation, Grading and Branding 6. Market Financing 7. Pricing 8. Risk Assuming 9. Advertising. Function # 1. Buying: It is an important function in all business concerns. The manufacturing firms are required to purchase huge quantities [...]
In this article we will discuss about the role of marketing organisation in taking marketing decisions. An organisation structure in any business is most essential for its survival and prosperity. A wrong organisation can weaken a company whereas a good organisation contributes to its success. A sound organisation clarifies and perfects the duties, responsibilities, and authority of managers at all [...]