Inbound Marketing is a form of marketing. In this, the customer sees ads when they search for a particular product that the company offers. Paid search advertising is one classic example of inbound marketing. Outbound Marketing, is another form of marketing. Here, the marketer finds out customers, starts interaction and conveys information in the form of messages to people irrespective of their interest. The basic difference between inbound and outbound marketing is that in the case of the … [Read more...]
Difference Between Purchase Requisition and Purchase Order
In a firm that undertakes manufacturing activity, the inflow and outflow of material occur at frequent intervals. As production can take place only when there is sufficient material. In this way, the need for material emerges every now and then. With the help of purchase requisition, permission to purchase the material is sought by various departments. Further, the placement of an order for buying the material takes place on the approval of purchase requisition. It is the purchasing … [Read more...]
Difference Between Segmentation and Targeting
In segmentation, the entire market of consumers is broken down into a number of groups. These groups are segments that comprise consumers with similar characteristics. Of all these segments the company chooses one segment to focus on, to offer their products. This is the process of targeting. We all know that, when all the consumers of the product are taken together, it makes up the market for that product. But this is also true all the consumers are not the same. Therefore, the consumers may … [Read more...]
Difference Between Supply and Quantity Supplied
Supply implies the quantity of a commodity, which suppliers are ready to offer for sale at a definite price over a period of time. In other words, supply is what the supplier is able and willing to offer for sale to the customers. In contrast, quantity supplied implies the amount of a particular commodity that the firm is willing and able to make available for sale at the given price at the given period of time. The seller of the product represents the supply side of the commodity. This may … [Read more...]
Difference Between Motion and Resolution
A motion becomes a resolution when the required majority of members accept it. Practically, one member proposes a motion, and another member supports it. The following methods demonstrate the adoption of motion: Show of hands Voting through electronic means Demanding a poll or postal ballot. Ministers and Private Members are eligible to move the motion. If a Minister proposes a motion, then it is given precedence over the motion moved by Private Members. The motion refers to … [Read more...]
Difference Between Circular and Notice
Notice and circulars are used as a form of written communication, to give or exchange information with the staff. Notices are commonly found on a notice board, specially meant to bring attention to the people who pass by. On the other hand, Circulars are the tool of internal communication that is used to convey the message to various addressees within the organization. It is brief and formal. The notice covers the information which we want to be noticed (paid attention to) by a maximum number … [Read more...]
Difference Between APC and MPC
APC and MPC are two concepts in economics, which sound similar. However, while average propensity to consume (APC) can be described as the fraction of aggregate consumption to aggregate income, marginal propensity to consume (MPC) is the fraction of change in the consumption expenses, to income. What is Propensity to Consume? Propensity is the inclination towards something that drives your behavior in a definite manner. So propensity to consume is the drive to consume corresponding to income. … [Read more...]
Difference Between Ungrouped Data and Grouped Data
Collection of data is the first step in the field of research and once the collection process is complete the next step is to look for ways to condense and arrange the data, to study their characteristics. This process is known as the presentation of data. Data in its original form which the researcher first collects from research is termed ungrouped data. In simple words, ungrouped data or raw data is a mere list of numbers that does not convey anything. This is because no summarization or … [Read more...]
Difference Between Allowances and Perquisites
Allowance refers to the financial benefit which an employer provides to employees in addition to the basic salary they draw, so as to meet the expenses that employees may incur to perform the job or because of it. Conversely, perquisites refer to a financial benefit which an employer provides to an employee because of their job or the designation they hold. These are like add ons to an employee's compensation. It facilitates the management of a number of expenses for which the employee does … [Read more...]
Difference Between Normal Loss and Abnormal Loss
Normal loss is an unalienable loss, that occurs during the production process. These losses are immediately recorded in the books of accounts and apportioned over the remaining product units. On the other hand, any loss arising accidentally due to unforeseen events is termed as an abnormal loss. As these are considered as an expense to the company, the cost is not included in the cost of production. Losses generally occur at the time of processing input during the process. Such losses arise … [Read more...]