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Next-best-action marketing, also known as the next best activity or best next action or recommended action, is referred to a customer-focused marketing paradigm that considers the various actions that can be taken for a particular customer and then decides on the best one to choose among those actions. It could be a proposition, offer or a service, determined by the customer’s interests and needs on one hand, and on the other hand it depends on the organization’s business objectives and policies. Next-best-action marketing strategy is in sharp contrast to traditional marketing methods because here a proposition for the product/service is first created and an attempt to find the interested and eligible prospects for that proposition is made. This practice which is typically automated as a campaign management tool is always marketing-focused and often product-focused. Next-best-action marketing strategy requires professionals to collect data about their customers using ...

Start-ups have been popping up in our country every now and then with unique concepts and offerings. They face tough competition at some point in their journey, especially from their significant players in the industry. It is wise to learn from your competitors and their mistakes but one cannot always focus on their advantages and the start-up’s limitations. You should know your biggest advantage and not let the major players control the industry. And how can that be achieved? Take a look: Change the marketing game and select one that is different from your competitors’. They would have ad budgets that are huge and competing against the same would only increase your marketing costs.  While hiring, you may not be able to choose the great minds as they might not fit in your budget. Instead hire like-minded people who would prefer working for a start-up over an established company. Choose those people who will believe in your vision and bring them onboard. D...

A Reverse Takeover or RTO in short, is a type of merger engaged by private companies to become publicly traded by not resorting to Initial Public Offering (IPO). RTo transaction requires reorganization of capitalization of the company that is being acquired. At times, the private company is bought by public listed company via asset swap and issuing shares. A private company’s shareholders purchase control of the public shell company in reverse takeover and then merge it with that of private company. Here, shell is referred to a publicly traded corporation as all that exists for the original company is the organizational structure. The shareholders of the private company receives a substantial share majority of the public company and a control over its board of directors. This transaction can be completed in a few weeks and it involves the private and shell company exchanging data about each other, negotiating the terms for merger and signing an agreement for share exchange. ...

A subset of electronic commerce, social commerce involves the use of social media to support social interactions and user contributions which help in buying and selling of products and services online. Social commerce, as a term, was introduced by Yahoo! in the year 2005. This was introduced to describe a set of collaborative shopping tools available online. The concept was developed by David Beisel as a means to denote user-generated advertorial content on e-commerce websites. Steve Rubel developed it to enable shoppers to get find good and services, get advices from trusted individuals and then purchase the same. It aims in assisting companies achieve the following: a. Engage customers with the brand according to the social behaviour of the customers. b. Provide incentives for the customers to return to the brand's website. c. Provide a platform for the customers to talk about the brand on its website. d. Provide information to the customers in order to resear...

While diversity is commonly viewed in relation solely to race, ethnic and gender variations, within the case, diversity will cover all aspects during which individuals square measure totally different, including age, gender, ethnicity, language, cultural background, theological virtue, sexual orientation and family responsibilities, furthermore as academic level, work and life expertise, temperament and legal status. As a result of globalization, nations have become a mixture of different cultures, religions and languages. The diversification of communities has inevitably affected the workplace and has posed challenges to managers and leaders. It is important for organizations to capitalize on diversity. The successful management of diversity represents a crucial competitive advantage. Businesses which want to secure a strong competitive position on the market need to take advantage of the opportunities offered by diversity. Among the opportunities arising from workforce ...

Business communication is a type of communication used for the purposes of a business. It refers to both internal and external communication, that means for the aim of promoting a product, service or idea, communication within a business and communication between a business and the public. Communication is a continuous process, in which the sender conveys verbal or non-verbal messages through some medium to the recipient. It is essential that the recipient interprets the message as it was intended by the sender. Feedback, or the response of the recipient, is an integral part of the communication process as it shows whether the message was understood in the right way, or ultimately whether the communication was effective. This need of feedback makes communication a two-way process. Communication in business needs to be effective as it is the essence of good management. Effective communication helps managers perform their basic functions of planning, organizing, leadin...

To realize cost savings and increase flexibility, outsourcing is used by businesses. It is the catching out of functions, tasks, or services by a corporation and may usually involve exchange a core work force with part-time or contract employees United Nations agency receive fewer advantages. The act of outsourcing transforms the basic nature of the company structure. It goes hand-in-hand with the advent of the virtual corporation whose physical plant is scattered across the globe; its connection to its people is seen as tentative, temporary, and optional. Outsourcing often involves the substitute of a workforce from a high-wage country for workers in developing countries who may be paid as little as 10 or 20 percent of their wage. There is almost unlimited supply of educated  workers waiting for jobs these are the valuable resource for companies wanting to reduce their costs. Key factors in the success of outsourcing are the way in which contractors are managed and ...

While diversity is commonly viewed in relation solely to race, ethnic and gender variations, within the case, diversity will cover all aspects during which individuals square measure totally different, including age, gender, ethnicity, language, cultural background, theological virtue, sexual orientation and family responsibilities, furthermore as academic level, work and life expertise, temperament and legal status. As a result of globalization, nations have become a mixture of different cultures, religions and languages. The diversification of communities has inevitably affected the workplace and has posed challenges to managers and leaders. It is important for organizations to capitalize on diversity. The successful management of diversity represents a crucial competitive advantage. Businesses which want to secure a strong competitive position on the market need to take advantage of the opportunities offered by diversity. Among the opportunities arising from workforce di...

To realize cost savings and increase flexibility, outsourcing is used by businesses. It is the catching out of functions, tasks, or services by a corporation and may usually involve exchange a core work force with part-time or contract employees United Nations agency receive fewer advantages. The act of outsourcing transforms the basic nature of the company structure. It goes hand-in-hand with the advent of the virtual corporation whose physical plant is scattered across the globe; its connection to its people is seen as tentative, temporary, and optional. Outsourcing often involves the substitute of a workforce from a high-wage country for workers in developing countries who may be paid as little as 10 or 20 percent of their wage. There is almost unlimited supply of educated  workers waiting for jobs these are the valuable resource for companies wanting to reduce their costs. Key factors in the success of outsourcing are the way in which contractors are managed and the ...

Internet promoting is outlined because the promoting of merchandise and services over the net. It is also known as web marketing, digital marketing, online marketing, Internet advertising or e-marketing. The Internet as a medium has allowed companies and business to create themselves additional visible to customers by disseminative info at lower prices and reaching world audiences. Companies set virtual models of their commercial activity as how to boost awareness and interest in their merchandise or services. Internet promoting could be a combination of web-related activities that focus on customers directly and indirectly. These web promoting activities ar a part of the client engagement cycle and will embody email promoting campaigns, search engine optimization (SEO), banner advertisements on certain websites and Web 2.0 strategies. Such interactive net ways aim at increasing traffic on the company's homepage. Internet promoting additionally uses the inventive and technical ...

To realize cost savings and increase flexibility, outsourcing is used by businesses. It is the catching out of functions, tasks, or services by a corporation and may usually involve exchange a core work force with part-time or contract employees United Nations agency receive fewer advantages. The act of outsourcing transforms the basic nature of the company structure. It goes hand-in-hand with the advent of the virtual corporation whose physical plant is scattered across the globe; its connection to its people is seen as tentative, temporary, and optional. Outsourcing often involves the substitute of a workforce from a high-wage country for workers in developing countries who may be paid as little as 10 or 20 percent of their wage. There is almost unlimited supply of educated  workers waiting for jobs these are the valuable resource for companies wanting to reduce their costs. Key factors in the success of outsourcing are the way in which contractors are managed an...

Business communication is a type of communication used for the purposes of a business. It refers to both internal and external communication,  that means for the aim of promoting a product, service or idea, communication within a business and communication between a business and the public. Communication is a continuous process, in which the sender conveys verbal or non-verbal messages through some medium to the recipient. It is essential that the recipient interprets the message as it was intended by the sender. Feedback, or the response of the recipient, is an integral part of the communication process as it shows whether the message was understood in the right way, or ultimately whether the communication was effective. This need of feedback makes communication a two-way process. Communication in business needs to be effective as it is the essence of good management.  Effective communication helps managers perform their basic functions of planning, organizing, le...

While diversity is commonly viewed in relation solely to race, ethnic and gender variations, within the case, diversity will cover all aspects during which individuals square measure totally different, including age, gender, ethnicity, language, cultural background, theological virtue, sexual orientation and family responsibilities, furthermore as academic level, work and life expertise, temperament and legal status. As a result of globalization, nations have become a mixture of different cultures, religions and languages. The diversification of communities has inevitably affected the workplace and has posed challenges to managers and leaders. It is important for organizations to capitalize on diversity. The successful management of diversity represents a crucial competitive advantage. Businesses which want to secure a strong competitive position on the market need to take advantage of the opportunities offered by diversity. Among the opportunities arising from workforce ...

Internet promoting is outlined because the promoting of merchandise and services over the net. It is also known as web marketing, digital marketing, online marketing, Internet advertising or e-marketing. The Internet as a medium has allowed companies and business to create themselves additional visible to customers by disseminative info at lower prices and reaching world audiences. Companies set virtual models of their commercial activity as how to boost awareness and interest in their merchandise or services. Internet promoting could be a combination of web-related activities that focus on customers directly and indirectly. These web promoting activities ar a part of the client engagement cycle and will embody email promoting campaigns, search engine optimization (SEO), banner advertisements on certain websites and Web 2.0 strategies. Such interactive net ways aim at increasing traffic on the company's homepage. Internet promoting additionally uses the inventive and technical ...

Organizational behavior is a field of social science which studies how people interact in the workplace. To help increase efficiency at both the individual and organization level Organizational behavior examines personal and group behavior and mechanisms. In this sense, organizational behavior is an applied discipline and is closely related to sociology, psychology, statistics and ergonomics. Core topics include organizational structure and culture, organizational development, organizational change, communication and decision-making in the group. Every organization has an underlying set of values, beliefs and goals, which are shared by its members and which drive its overall performance. There are four organizational models. The first is the autocratic model based on power and authority, which yields poorest outcomes. The employees in this model are dependent on the manager and only their basic needs are met. The second model is the custodial one, based on economic resource...

Business forecasting is the method of estimating future business conditions by analyzing past business knowledge. It is used to predict sales; customer or market size, stability and makeup; employee and salary information; website traffic; inventory; and risk. Business prediction is a very important tool for management, because it provides the premise for several business choices. All businesses use forecasting to some extent, whether to anticipate the needs of their customers, determine whether to launch a new product line or control inventories and supply chains. Budgets and production plans are simple forms of forecasting that have always been used by businesses. Forecasting based on systematic procedures is increasingly becoming an important function within major corporations and even small businesses. The number of companies that have hired forecasters rose substantially beginning at the end of the 20th century. Forecasting is particularly important for businesses with lon...

Human resource development, is a widely used term that refers to activities aimed at developing people within an organization. The term refers to the development of human capacities with aiming to raise profit in business but also, especially in developing countries, with the aim of achieving personal and societal advancement. HRD are used both by private corporations and public organizations (governments, NGOs). Human resource development is all about the development of people within the organizations. it is troublesome to live the worth of human resources mistreatment commonplace measures. One way to see the importance of human resource is to calculate the price to interchange a valuable worker by recruiting, hiring, training and orienting a new employee. Development is a process that enhances people's knowledge, skills and competencies, and helps them improve their behavior within the organization for both personal and professional use. This viewpoint is concentrated o...

A vision or state that an organization aspires. It emphasizes the dream of where the association will be at a specific time, usually in three or more years. The values governing the operation of the business and its conduct or relationships with society at large, customers, suppliers, employees, the local community and other stakeholders is the first step in developing a strategic plan. The next step is to set goals that the organization must achieve. Goals are general statements about what the organization should accomplish to meet its mission and to address major issues facing the organization. The goals should be set for three or five years as well. After setting its goals, the organization should identify specific strategies that must be implemented to reach each goal. Small organizations usually do not identify strategies. After deciding on the strategies, organizations should draft action plans to implement each of them. These are the specific activities that each major dep...

Consumer psychology is a branch of professional psychology that examines the way people relate to the goods and services that they use every day. It may be copied back to the primary noted shopper scientist John B Watson (1878 to 1958). Watson was the person who suggested that advertisements for Johnson & Johnson baby powder should be built in a way to "take advantage" of the insecurity that inexperienced mothers commonly feel. Watson's influential methods of recognizing the emotional attraction of advertising is still a major element of consumer psychology in the 21st century. Consumer psychological science emerged as associate degree freelance field of study when warfare II. Consumer psychology is also referred to as the psychology of advertising and selling, or as the study of consumer behavior. Its major aim is to describe and explain human motivation in marketing relations. This field of study focuses on the factors most important for people when buying a p...

Brand equity is the added value that a company gains from having a brand that consumers recognize and trust, and for which they are willing to pay a premium. A brand is a familiar name, logo or symbol that marks products or services and helps consumers recognize them and associate them with certain qualities, values or characteristics. A brand-name product has a higher value than its generic equivalent because it is known to consumers and is therefore perceived as being more trustworthy and familiar. Brand equity also mean that a brand is easily recalled, or that it comes to mind when a consumer thinks of a certain category of products or services. This familiarity leads to higher consumer confidence in purchasing the product and therefore translates into higher sales, more customer loyalty and ultimately higher profits. Consumers often pay a premium for brand equity because they believe certain brands have higher value or quality. Consumers also recommend brands to one ano...