Business Degrees – Top ten UK and USA universities

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Employers look for applicants with appropriate qualifications, skills, and experience. As competition is high in the job markets, a prospective job applicant needs to ensure that he/she has some kind of competitive advantage over others. A university graduate with appropriate skills should have competitive advantage over non-graduates. That being said, it will be wise to explore degrees in different disciplines. However, please note that this article focuses on business degrees only. Business degrees Graduates of business degrees are in high demand among a wide range of employers in leading economies […]

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Business ethics – Definition and meaning

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Last updated: February 2017 What is business ethics? Ethics is a system of moral principles that govern the conduct of a person. According to Hill (2012), business ethics are the accepted principles of right or wrong that govern the conduct of business people. High standards of quality, transparency, and integrity are vital to the success of any profession. Therefore, organisations need to have a set of principles that guide them on how to behave as business entities. For example, American Marketing Association (AMA) has its own code of ethics that […]

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What is BCG matrix?

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Last updated: February 2017   What is BCG matrix? BCG matrix is an important strategic planning  tool. It was developed by Bruce D. Henderson for the Boston Consulting Group (BCG) in the early 1970’s. BCG Matrix helps companies manage a portfolio of different business units (or major product lines) as they sometimes face challenges to allocate resources among their strategic business units. It should be noted that BCG Matrix is also known as Growth-share matrix, Boston matrix, and Portfolio diagram. How does the BCG growth-share matrix work? The BCG matrix […]

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Product life cycle – What is product life cycle?

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Last updated: January 2017 Definition of the product life cycle The product life cycle is a very important topic in marketing literature. According to Lancaster & Reynolds (2004), the product life cycle refers to various stages a product goes through in its life from the time it is conceived to the time it is removed during the decline stage. It has four stages namely introduction (launch), growth, maturity and decline. What are the main stages of the product life cycle? The main stages of the product life cycle are as […]

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What is Ansoff growth matrix?

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Last updated: January 2017 What is Ansoff growth matrix? Ansoff growth matrix is an important planning tool that helps organisations determine their growth strategies. There are a number of growth strategies an organisation may pursue and Ansoff has outlined four of them. They are called market penetration, market development, product development and diversification. Who is Ansoff? Harry Igor Ansoff was born in 1918 and passed away in 2002. He was a Russian American mathematician. He is one of the greatest thinkers in strategic management. Many would argue that he is […]

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SWOT analysis of SUBWAY

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Last updated: January 2017 SWOT analysis is one of the tools which many strategic planners find very useful to analyse business environment. SWOT stands for strengths, weaknesses, opportunities, and threats. While, strengths and weaknesses are internal factors, opportunities and threats are external factors (Needham et al, 1995). The discussion that follows includes a SWOT analysis of SUBWAY. SWOT analysis of SUBWAY SUBWAY is an American fast food restaurant. The business has adopted franchising as its growth model. It sells submarine sandwiches (subs) and salads. Tea, coffee, and a variety of […]

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Differences between CPM and CPC

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Last updated: December 2016 Companies (advertisers) run online advertising campaigns to create brand awareness and persuade customers to purchase their products and services. There are a variety of methods which advertisers can chose with regards to how to pay for the campaigns. Two most widely used methods are called CPC and CPM. Advertisers usually run their ad campaigns through ad networks. Ad networks use  websites and blogs of their registered publishers to run the campaigns. The discussion that follows touches on the definitions of both CPC and CPM and the […]

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Strategic planning process

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Last updated: November 2016 What is strategic planning? Strategic planning is an important topic in strategic management. Organisations engage in strategic planning in order to develop, implement and evaluate their strategies. Strategic planning refers to the decision-making and planning process that guides the long-term direction of an organisation (Plunkett & Attner, 1994). The steps in strategic planning process Different writers have identified different stages in strategic planning. For example, Plunkett & Attner (1994) identified six stages which had subsequently been followed by many writers. The discussion that follows will focus […]

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Different techniques of sales promotion

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Last updated: November 2016 Different techniques of sales promotion Different techniques of sales promotion. There is no doubt that competition is very intense almost in all industries. In such situations, marketers apply different techniques to persuade customers to purchase their products and services. Sales promotion is one of those techniques. When used appropriately in line with other elements of the marketing mix, sales promotion can turn out to be very effective in acquisition of new customers and retention of the existing ones. What is sales promotion? According to the Institute […]

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Marketing mix- The additional elements

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Last updated: November 2016 Image: Pixabay A brief history of the marketing mix A number of writers have contributed to the development of the concept of marketing mix. The term marketing mix was first used by Neil Borden back in 1949. However, it is widely accepted that Edmund Jerome McCarthy, a marketing professor at the Michigan State University, is the architect of the first 4Ps of the marketing Mix. Booms and Binter have built on the work of McCarthy and suggested an extension of the mix in 1981 making it […]

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