External analysis of business is concerned with identifying opportunities and threats and strategic questions that affect key factors of successful performance. Such analysis is necessary for strategy formulation and management in all fields of activity including marketing activity of an organisation. This analysis is mainly concerned with the study of external environment in which a business firm operates. The components [...]
The upcoming discussion will update you about the difference between departmental stores and multiple shops. Difference between Departmental Stores and Multiple Shops Departmental Stores 1. Departmental stores provide the widest variety of products under one roof to satisfy the diverse requirements of the customers. 2. On account of non-business services to the customers, their prices are higher than those charged [...]
In this article we will discuss about the meaning and components of marketing strategy of a business. Meaning of Marketing Strategy: A modern business enterprise is faced with the problem of preserving its traditional role in a world affected by recession and inflation and trials by the consumers, government and special interest groups. The primary challenge to business is how [...]