In layman's terms, we call it Digital Marketing when marketing products and services use digital platforms or channels. It involves the use of websites, search engines, emails and social media to reach the target audience. It has come out as the fastest mode of marketing that reaches a large group of audience. On the other hand, Affiliate Marketing is a sub-type of Digital Marketing wherein an individual is paid a commission for generating sales of goods and services. We all spend most of … [Read more...]

Public goods are the goods that an individual can consume without limiting or reducing their availability to others. That means every person in the society can take its advantage. On the other hand, private goods refer to the goods that a person needs to purchase first in order to consume them. Further, one person's consumption of these goods limits another person from consuming them. Both public goods and private goods are for the benefit of consumers. The difference between public goods … [Read more...]

Did you notice that most people have a range of electronic devices from the same company like TV, Microwave, Refrigerator, Washing Machine, etc.. Product line refers to a range of product items which are similar in nature, characteristics and function. On the other hand, product mix is the complete range of products that a firm manufactures and offers for sale. There are four elements of the promotion mix, and the product is one of its elements. Product implies the goods and services that … [Read more...]

Inside Sales is a sales model that makes use of technological interactions to connect with potential customers. This may include contacting customers via email, phone, chat, video conferencing, etc. On the other hand, in the case of outside sales, the sales representative must travel frequently to meet potential clients, sell the products and services directly and develop lasting professional relationships. Though the outside sales workforce is more expensive than the inside sales workforce, … [Read more...]

Though Retargeting and Remarketing have similar goals, they are different. While retargeting uses sponsored ads to attract an audience. Remarketing uses email to attract past customers, retain them and encourage further purchases. One must note that retargeting is a subset of remarketing. Retargeting refers to serving personalized ads to customers depending on their previous engagement. It is an amazing brand-building tactic that keeps the marketer in front of the prospects. Moreover, it aims … [Read more...]

Trade implies the process of buying and selling goods and services to earn profit. It covers all the activities resulting from which goods produced are distributed for consumption. This trade can take place either at the national or international level. While trade occurring within the boundaries of the nation is internal trade. Conversely, International Trade refers to the exchange of capital, goods and services across international boundaries or territories between the residents. When there … [Read more...]

A perfectly competitive market is a market where you can find a large number of buyers and sellers. The firms in such a market offer homogeneous products. Also, no firm is large enough to influence the market price. Basically, perfect competition exhibits the 'ideal' form of competition that exists in the industry. For instance: An industry comprising street corner vendors can come under this category. On the other hand, a monopoly is when a single firm owns all or almost all of the market … [Read more...]

Economic Development refers to the process by which the economic health and quality of life of the country improves. It contains a number of structural changes. On the other hand, sustainable development is a process of development wherein economic, social and environmental policies are designed to result in a development which is sustainable, i.e. which maintains ecological balance. In short, it ensures a better quality of life for all people whether they belong to the present or future … [Read more...]

Autonomous Items are the reason for the imbalances in the Balance of Payment Account. On the other hand, Accommodating Items are intended to restore the balance in the Balance of Payment Account. While autonomous items are foreign exchange transactions which arise due to profit motives. Accommodating items are nothing but short-term capital transactions which emerge to overcome the disequilibrium in the Balance of Payment causing due to autonomous items. Do you know that the balance of a … [Read more...]

In simple terms, a hotel is an accommodation for travellers who want to have lodging through payment to the proprietor. It is initially designed for travellers to rest and sleep. Hotels may provide a range of facilities, from a bed to an almirah for storage to a spa. Both hotels and motels are a part of the hospitality sector that provides accommodation. The hotel offers numerous amenities to its guests apart from providing accommodation facilities. However, a motel offers a layover facility … [Read more...]