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Posted by Saba Karim 7 years, 2 months ago
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Tushar Agarwal 7 years, 2 months ago
Shruti Tumdam 7 years, 2 months ago
Gaurav Seth 7 years, 2 months ago
According to Marrie and Douglas, “Management is the process by which a co-operative group directs actions of others toward common goals.”
Management is an art of getting things done with and through others. Management can be defined as, the process of getting things done with the aim of achieving organizational goals effectively and efficiently .
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Monica Krmdb 7 years, 2 months ago
Gaurav Seth 7 years, 2 months ago
Brand name is the verbal component of a brand, e.g. Saffola, Maggi, Cadbury, etc.
Characteristics of a good brand name are as follows:
(i) Short and easy A brand name should be short, easy to pronounce, spell, recognise and remember, e.g. Vim, Ponds, Lux, etc.
(ii) Suggestive A brand should suggest the product’s quality or benefit, e.g. Ujala, Fair and Lovely, etc.
(iii) Distinct A brand name should be distinct from the other brands present in the market, e.g. Liril, Sprite, Raymonds, etc.
(iv) Adaptable to packaging A brand name should be adaptable to packing and labelling requirements in different media and languages
Jolly Chabra 7 years, 2 months ago
Posted by Aloniya Benny 7 years, 2 months ago
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Gaurav Seth 7 years, 2 months ago
Branding implies giving a unique name, sign, symbol or term for the identification of a product. The following are the advantages of branding to the marketers.
i) Branding enables a firm to distinguish its product from the product of other firms.
ii) It facilitates advertising of the product. Only when a product is given a brand, it can be advertised and thereby, attract customers. A product with a generic name cannot be advertised.
iii) Through good branding manufacturers can create loyalty and habituality for their product. Thereby, the firm can benefit from this and charge a different price for its product.
iv) It helps in establishing the base if a new product is to be launched. This is because if a new product is launched under a good and established brand, it is expected to get a good boost and benefit from reputation of the brand.
Jolly Chabra 7 years, 2 months ago
Posted by Ayush Gupta 7 years, 2 months ago
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Muskan Agarwal 7 years, 2 months ago
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Gaurav Seth 7 years, 2 months ago
- Setting objectives Plans are prepared to achieve certain objectives or goals.
- Developing premises Planning is concerned with future, which is uncertain. Therefore, the manager is required to make certain assumptions about the future and these assumptions are known as premises.
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Gaurav Seth 7 years, 2 months ago
Importance of Business Environment
(i) Environment Provides Numerous Opportunities for Business Success It enables the firm to identify opportunities and getting the first mover advantage.
(ii) Threats and Early Warning Signals Environmental awareness can help managers to identify various threats on time and serve as an early warning signal.
(iii) It Helps in Tapping Useful Resources Environment is a source of various resources for running a business. Like as finance, machines, raw materials etc.
(iv) It Helps in Copying with Rapid Changes Knowledge of environmental changes sensitises the management to make new strategy to copy with the emerging problems of changes.
(v) It Helps in Assisting in Planning and Policy Formulation Its understanding and analysis can be the basis for deciding the future course of action or training guidelines for decision making.
(vi) It helps in Improving Performance With continuous scan of business environment, companies can easily improve their performance.
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Amarnath Ankit 7 years, 2 months ago
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Yogita Ingle 7 years, 2 months ago
Decentralization means delegation of authority at every level. It is the even and systematic distribution of decision making authority to the lowest level of management. Under decentralization every employee working at different levels gets some share in the authority. Decentralization is a policy matter and managers plan in advance whether to go for centralized or decentralized policy.
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Gaurav Bansal 7 years, 2 months ago
1Thank You