Online Retail – Advantages, Growth and Future of Digital Retail
What is an online retail business? So, If you are from a commerce background, You might have heard many definitions about business and aware of physical retail and digital retail. In brief, business is a process or activity of selling a product or providing a service to others and earn money in return. Also, The […]
Lean Manufacturing – Most Effective Way of Production
Lean manufacturing is a process where the focus is to reduce waste. Also, to increase productivity during the manufacture of the product. We all know that a lot of waste gets created while manufacturing any goods. The customers are also not ready to pay for the trash. Hence, today the companies are trying to find […]
Backward and Forward Integration – How Companies Use Them?
Backward integration and forward integration both are the two types of vertical integration. In these two types of methods, companies either can choose backward vertical strategy or can choose the forward vertical strategy. Thus they can choose both strategies. So in this blog, you will know everything about backward integration and forward integration. Also, you […]
Product Life Cycle – Different Stages and Examples
This concept is in use by management and by marketing professionals as a factor in deciding when it is appropriate to increase advertising, reduce prices, expand to new markets, or redesign packaging. It is the nature that the old one replaces by the new one. Product Life Cycle is the period of a product that […]
Demand and supply curves | Meaning, Definition, Example, and Laws
Do you know the price of anything you buy? Obviously, yes. But most of the people don’t know the backbone of the price i.e. Demand and Supply. Therefore, these terms play an important role in deciding the price of a commodity. Let’s learn these concepts clearly: Concept of Demand Ordinarily, the terms desire and demand […]