The Relevance of Stakeholder Management in International Business Context

International Business

Why Business Models Matter in Business?

Modern Management Concepts

What is Corporate Philanthropy?

Business Ethics

Stakeholder, Dynamic Capabilities and Sustainable Development Approaches to Strategic Management

Strategic Management

Importance of Innovation Strategies in Organizations

Modern Management Concepts

Mercantilism Theory of International Trade

The mercantilists proposed Mercantilism theory of international trade. They were a group of economists who preceded Adam Smith. The foundations of economic thought between 1500 and 1800 were based on mercantilism. Mercantilists believed that the world had a finite store of wealth; therefore, when one country got more, other countries had less. Mercantilists restricted imports and encouraged or subsidized exports as a conscious policy to make their citizens better off. Mercantilists judged the success of trade by the size of the trade balance. Mercantilism was a sixteenth-century economic philosophy that maintained that a country’s wealth was measured by its holdings of gold and silver. This required that the countries to maximize exports and minimize imports. The logic was transparent to Continue reading

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Campaign Management Process

The very concept of a campaign in marketing is focused on a time bound effort to design a strategy for various objectives as per the client requirements. The business objectives which can be the drivers for a campaign are considering an effective launch for a range of products, follow-up and may be increase market share sometimes. The process of campaign management involves an understanding of what are the expected benefits of the campaign, budgeting and costing of the campaign while ensuring that all needful resources are met and finally evaluating the effect of the campaign on the target market. There could be various kinds of campaigns and depending on the objectives of the campaign the basic principle can vary while Continue reading

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3Ps of Marketing Communication

An organisations marketing communication strategy are represented by 3Ps: Push, Pull and Profile. Push strategy: This strategy promotes products to retailers or wholesalers in order to force the product line down the distribution line. Pull strategy: This strategy is the opposite to push strategy where communication reaches to consumer or end user first with an aim to attract the retailer wholesaler channel to purchase the product line. Profile Strategy: In order to satisfy an organisations promotional goals profile strategy is used. This strategy mostly aims towards satisfying stakeholder needs. 1. Push Strategy Main focus of push strategy is to use minimal or no advertising to get the product to the buyers. This strategy acquires customers by personal sale. One of Continue reading

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The Importance of Advertising in Marketing Communication

Advertising has four characteristics: it is persuasive in nature; it is non-personal; it is paid for by an identified sponsor; and it is disseminated through mass channels of communication. Advertising messages may promote the adoption of goods, services, persons, or ideas. Because the sales message is disseminated through the mass media – as opposed to personal selling – it is viewed as a much cheaper way of reaching consumers. However, its non-personal nature means it lacks the ability to tailor the sales message to the message recipient and, more importantly, actually get the sale. Therefore, advertising effects are best measured in terms of increasing awareness and changing attitudes and opinions, not creating sales. Advertising’s contribution to sales is difficult to Continue reading

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Political Environment of International Business

Political factors constitute an important environment factor in International Business. Actually politics and economics are inter-related as one influences the other. That was the reason for early writers of Economics preferred to caption their work as Political Economy. Political system, political parties in power, political parties in the opposition, political maturity of the parties, number of political parties, political awareness of people, political stability and the like have great impact on the business environment in a country. The economic policies pursued by a Government are to a great extent the by-product of political environment that impacts businesses very often. Basic Political Ideologies Political ideology refers to, ‘the body of ideas, theories, aims and means to execute the ideas, adapt the Continue reading

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Why Integrated Marketing Communication is Important?

For marketing communication to be successful, sound management decisions must be made in the other three areas of the marketing mix: the product, service or idea itself; the price at which the brand will be offered; and the places at or through which customers may purchase the brand. The best promotion cannot overcome poor product quality, inordinately high prices, or insufficient retail distribution. Likewise, successful marketing communication relies on sound management decisions regarding the coordination of the various elements of the promotional mix. To this end, a new way of viewing marketing communication emerged in the 1990s. It is called integrated marketing communication; this perspective seeks to orchestrate the use of all forms of the promotional mix to reach customers Continue reading

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