Economic Transformations: Europe and Spain’s Modern History
Unit 1: 19th Century Economic Dynamics
19th Century European Population Growth
The significant increase in the European population throughout the 19th century was indeed caused by the economic growth derived from the Industrial Revolution. Agricultural productivity greatly improved, leading to cheaper food. Life expectancy also improved, and both birth and death rates were reduced. Furthermore, technological advancements during this period contributed to urbanization, as people migrated to cities
Read MoreUnderstanding Products: Levels, Classification, Life Cycle & Portfolio
Understanding Products and Their Market Dynamics
Defining a Product
According to Jobber (2004), “A product is anything that has the ability to satisfy a consumer need.”
Levels of Product: Core to Potential
Products can be understood at five distinct levels, each building upon the last:
Core Product: The Fundamental Benefit
This is the most fundamental level, representing the core benefit or service the consumer is truly buying. It is the fundamental problem-solving benefit that a product delivers.
Service Marketing Strategy: Positioning, Branding, and Innovation
Service Marketing Strategy: Core Concepts
Perceived Risks in Service Consumption
When customers evaluate services, they often consider various perceived risks:
- Functional Risk: Unsatisfactory performance or failure to meet expectations.
- Financial Risk: Feeling of monetary loss or poor value for money.
- Temporal Risk: Delays, wasted time, or inconvenience.
- Physical Risk: Potential for personal injury or harm.
- Psychological Risk: Fear, anxiety, or negative emotional impact.
- Social Risk: Concerns about how
Mastering the Project Life Cycle: Initiation to Planning
Project Life Cycle Management
A project is first initialized, then planned, and while it is running, it is monitored and controlled.
Project Initialization
It is important to strive for good management at the initial stage to minimize problems later.
Description of Project
The project description is a process of selecting and refining ideas and perspectives from stakeholders into clearly defined objectives, key success criteria, and risk assessments. It should be clear and precise for universal understanding.
Read MoreEssential Marketing & Business Concepts Defined
Key Marketing & Business Concepts
Integrated Logistics Management
The logistics concept that emphasizes teamwork, both inside the company and among all marketing channel organizations, to maximize the performance of the entire distribution system.
Promotion Mix
The specific blend of promotion tools that a company uses to engage customers, persuasively communicate customer value, and build strong customer relationships.
Madison & Vine
A term that has come to represent the merging of advertising
Read MoreBusiness Fundamentals: Functions, Management, and Marketing
Business Fundamentals and Core Functions
A business is a for-profit organization focused on maximizing revenue and minimizing costs.
Essential Business Functions
- HR Management (Human Resources Management)
- Marketing
- Finance & Accounting: Recording business transactions.
- Operations & Production
- R&D & Innovation (Research & Development): Needs to be more convincing and constant because satisfaction, emotion, and perceived benefit decrease over time.
- Management Information Systems (MIS):