Research process starts with the collection of data, which plays a significant role in the statistical analysis. We quite commonly use the term 'data' in the different context. However, in general, it indicates the facts or statistics gathered by the researcher for analysis in their original form. When the data is processed and transformed in such a way that it becomes useful to the users, it is known as 'information'. While data is an unsystematic fact or detail about something, information … [Read more...]

Gone are the days when the commercial activities like the exchange of goods and services for money, between parties, takes place only in the traditional mode, i.e. the customer has to go to the market, look at the variety of products, choose the required stuff and the purchasing them by paying the specified amount. But with the advent of e-Commerce, people can buy goods, pay bills, or transfer money in just one click. Many people, still prefer traditional commerce over e-Commerce, due to … [Read more...]

As the term, 'intra' means 'within', so the communication that takes place within a person is called intrapersonal communication. On the other hand, the term 'inter' means 'between', so when the communication occurs between two or more persons, it is said to be interpersonal communication. We, humans, are social animals, and we always need someone to talk or share our opinions, news, and even feelings. Communication is a substantial part of our life, whether we say something or not, it … [Read more...]

Supply Chain is the assemblage of all persons, entities, resources, processes and technologies which participate in the production and distribution of the goods and services, effectively to the final consumer. In the business world, we often hear the terms like vendors and suppliers, as they are the important links of the supply chain process. While vendor is someone who offers a product to customers for sale, who is the last link of the process economic production chain. On the other hand, a … [Read more...]

As every coin has two sides, likewise, margin and markup are two accounting terms which refers to the two ways of looking at business profit. When the profit is addressed as the percentage of sales, it is called profit margin. Conversely, when profit is addressed as a percentage of cost, it is called as markup. While markup is nothing but an amount by which the cost of the product is increased by the seller to cover the expenses and profit and arrive at its selling price. On the other hand, … [Read more...]

The two promotional strategy which is applied to get the product to the target market is Push and Pull Strategy. While in Push strategy, the idea is to push the company's product onto customers by making them aware of it, at the point of purchase. Pull strategy, relies on the notion, "to get the customers come to you". The two types of strategies differ, in the way consumers are approached. The term is derived from logistics and supply chain management, however, their use in marketing is not … [Read more...]

All business entities need funds to finance their day to day operation. There are two ways of raising funds for the business i.e. in the form of equity which mean the owned capital of the company or debt which represents the borrowed capital of the company. When funds are raised as equity, the company approaches various individuals to sell its shares at a fixed price. When this offering is done by the company for the first time, it is known as IPO or initial public offering. As against this, … [Read more...]

To raise capital from the general public, the first and foremost requirement of a public company is to issue a prospectus. A prospectus is a disclosure document used to invite the general public to subscribe for shares. It contains all the relevant details and facts about the company that helps the investors in rational decision making. The prospectus is often contrasted with the statement in lieu of prospectus, but they are not same, in essence, the statement in lieu of prospectus is issued … [Read more...]

When it comes to hiring a person for performing tasks, there are two options available, before the business person, i.e. employee or independent contractor. An employee is a person who provides services to the employer in exchange for an adequate consideration, i.e. salary. On the contrary, an independent contractor is a person, or an entity, which provides services to the clients for a definite fee. Making a choice between these two would be difficult as both have their pros and cons. … [Read more...]

The goods whose demand tends to increase as the income of the consumer rises are called normal goods. As against this, inferior goods are the goods which encounter a fall in demand as the income of consumer rises. Income is the basic determinant of the market demand which determines the purchasing power of the consumer. Therefore, the individuals who have higher disposable incomes spend the larger part of their incomes on consumer goods and services as compared to lower incomes. Income … [Read more...]