Understanding the Marketing Mix: 4Ps and Implementation
Marketing Mix Concept
The marketing mix is the organization of all the variable elements controlled by a company or other institution in order to maximize its trade value with the environment.
Marketing-Mix Variables: The 4Ps
Although the number of variables that make up the market supply is quite large, they are commonly classified into the 4 Ps:
- Product: This includes sub-variables such as the tangible product, useful product, brand, packaging, and labeling.
- Price: This includes sub-variables such
Corporate Finance: Principles and Practices
Corporate Finance: Principles and Practices
Corporate Finance encompasses every decision a business makes, as each decision has financial implications. Marketing, Sales, Branding, and Accounting are integral parts of a larger picture: corporate finance.
Characteristics
- Assets: Items or rights owned by the company.
- Assets in Place: Existing investments (e.g., buildings, factories).
- Growth Assets: Future growth opportunities (e.g., acquiring another company). Calculated as (Debt + Equity) – Assets.
- Liabilities:
EU Community Expenditure and Economic Cohesion
Community Expenditure
- Operating expenses
Institutions: personal, current goods, services, management costs… The Union’s own resources are collected by member states. The European Agricultural Guidance and Guarantee Fund (EAGGF) finances the costs of the common agricultural policy. The European Social Fund (ESF) aims to promote employment opportunities and occupational and geographical mobility of workers. The European Regional Development Fund (ERDF) is the main financial instrument of regional
Read MoreQuality Management Systems: Benchmarking, ISO, and TQM
Quality Management Systems and Entrepreneurship
Benchmarking
Benchmarking: A systematic process of comparing your organization’s goods, services, and practices against industry leaders worldwide. This helps you gain information to improve your performance.
ISO Standards
ISO 9000
ISO 9000: A set of international standards on quality management developed to help companies document the quality system elements to be implemented to maintain an efficient quality system. Created to implement a set of standards
Read MoreEconomic Backwardness & Industrial Revolutions
Relative Backwardness in Economies
Some of the countries considered to have backward economies are Sweden, Norway, Denmark, Holland, Italy, Spain, Portugal, and Russia. In backward economies, the biggest sector is agriculture, with higher income and employment. Backward economies’ growth is analyzed in the Gerschenkron model. Gerschenkron states that the slow growth of these countries is due to a lack of prerequisites to generate economic growth in the industrial sector. The more likely certain conditions
Strategic Management: Key Concepts and Insights
Strategic Management: Key Concepts
9) Strategic management focuses on organizational success.
12) Strategic management is crucial in the face of uncertainty.
14) Firms, like organisms, must adapt to survive.
16) Application of strategic principles is well-established in organizations.
17) To be effective, strategic management involves resolving key issues.
19) All firms face dynamic and sporadic challenges.
21) The strengths and weaknesses of a firm must be evaluated relative to its competitors.
34) The
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