SERVQUAL is a widely used framework for assessing and measuring service quality in various industries and settings. SERVQUAL is based on the premise that customers' perceptions of service quality are shaped by their expectations and the actual … [Continue reading] about SERVQUAL Model of Service Quality Explained
Not all customers are alike; they differ in their real profitability. Marketing is the art of attracting and keeping profitable customers. It involves making use of the 80– 20 rule, and in extreme cases see the most profitable 20 percent of … [Continue reading] about Customer Profitability Analysis: CLV and other metrics explained
Customer Acquisition and Customer Retention are two essential strategies in marketing that focus on acquiring new customers and retaining existing ones. Customer lifecycle management (CLM) involves measuring various customer related metrics, which, … [Continue reading] about Customer Acquisition & Retention Strategies
Data management for Customer Relationship Management (CRM) involves the organized collection, storage, and utilization of customer-related information. It ensures accurate and timely access to customer details, enabling businesses to make informed … [Continue reading] about Data Management for CRM: CDI best practices and strategies
eCRM (electronic way of customer relationship management) uses social media, forums, and other channels to track customer engagement with the business. For decades organizations did all the talking but Social Media allows two way dialogue and allows … [Continue reading] about eCRM: Benefits, Features, Components
Relationship marketing is a connection between equal partners, characterized by trust, commitment, communication, and sharing, which results in the mutual achievement of goals. It is basically interaction in networks of relationships. Relationships … [Continue reading] about What is Relationship Marketing? Definition, Benefits and Examples.
Francis Buttle's Customer Value Chain outlines the stages involved in creating customer value and building profitable customer relationships within the context of customer relationship management (CRM). Customer Value Chain provides a systematic … [Continue reading] about Customer Value Chain
Customer value is the customer’s evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers (Kotler et al. 2008). Image adapted from Kotler and Keller (2016). In traditional … [Continue reading] about Customer Value and Customer Perceived Value (CPV)
Organization behaviour involves the study of people, teams and culture within an organization, how they interact and how it impacts the business operations. Good understanding of organizational behavior is important for organization success as it … [Continue reading] about Organizational Behaviour: Theories with Examples
Customer relationship management (CRM) is a strategy, used in combination with software system, to manage a firm's interactions with existing as well as potential customers. CRM systems consolidate customer data from various channels and analyses it … [Continue reading] about Success Factors for Customer Relationship Management (CRM)
Market Research reports, sources, and database (Mintel, MarketLine Advantage, PASSPORT) for consumer, country, industry, and financial data for every marketplace in the world. These are excellent resources to collect secondary data. Mintel Academic: … [Continue reading] about Top Market Research reports and databases for data
Learn the importance of effective Supply Chain Management (SCM) in today's business world. Know more about the various SCM concepts, strategies, tools, and techniques. What is Supply Chain? A supply chain is basically a network between a company and … [Continue reading] about Supply Chain Management: Comprehensive Guide and Strategies
Understand the purpose of budgets, learn to interpret information provided in budgets, and learn to critique the benefits and shortcomings of budgets. Why is Budgeting Important So what is the purpose of budgets? We all budget in our personal life, … [Continue reading] about Budgeting 101: How Firms Control Their Finances
Understand the annual report and its key components and why they are more just numbers. Here's your ultimate guide to company performance metrics. Learn to interpret and analyse the Income Statement and Statement of Financial Position. What is the … [Continue reading] about What’s Inside an Annual Report and Why Does It Matter?
The Kapferer Brand Identity Prism is a branding tool commonly used by businesses to create a strong brand identity that resonates with its customers and sets itself apart from competitors. It provides a framework for visualizing the various elements … [Continue reading] about Kapferer Brand Identity Prism Explained
Understand more about financial ratios and what they inform about the business. Learn to calculate and analyse some key financial ratios and draw overall conclusions about a business based on these ratios. "A set of accounts is like a book, which … [Continue reading] about Understanding Financial Ratios: Definitions and Examples
Cost accounting involves summarizing and analyzing all the costs associated with the business activities. This practice also makes it easy to understanding the various costs associated with the business and how those costs impact the business and its … [Continue reading] about Cost Accounting 101: Understanding the Basics
MarCom (short for Marketing Communication) is the use of various methods to promote products or services to the target audience. MarCom has various objective and marketers can make of use of various tools to help achieve those objectives. Marcom … [Continue reading] about Understanding Marcom: Its objectives & tools used to achieve them
The Hierarchy of Effects Theory is a model in marketing and advertising that describes the sequence of stages a consumer goes through when making a purchase decision. These stages include awareness, knowledge, liking or interest, preference, … [Continue reading] about Hierarchy of Effects Theory Explained
Brand positioning is about creating a suitable image for a brand in the minds of the target audience. As part of this process, the unique features of the brand are indetified and is communicated effectively to create a distict image of that brand to … [Continue reading] about Brand Positioning: Concepts
Service operations refer to the business and operational activities involved in actually delivering a product or service to a customer, including service design, service delivery, and service management. Learn more about the distinct concepts within … [Continue reading] about The Key Elements of Service Operations: A Comprehensive Guide
Performance objectives of operations are measurable goals that a company sets in order to ensure that its operational activities are carried out as efficiently and effectively as possible. Learn how organizations use strategic performance objectives … [Continue reading] about The Five Essential Performance Objectives of Operational Success
The transformation process refers to the series of activities that transform inputs into outputs and is a core concept in the study of operations management. This framework is commonly used in operations management to optimize the various processes … [Continue reading] about Understanding the Transformation Process in Operations Management
French management theorist Henri Fayol developed the concept of the 14 Principles of Management that describe how managers should ideally organize work and manage employees in a business environment. Henri Fayol's Contribution to Management Henri … [Continue reading] about Principles of Management by Henri Fayol
Effectiveness of global leadership is seen as a key factor in global success today. Find insights on effective global leadership. Understand leadership within the context of global organizations and the interdependent world. Understand the traits and … [Continue reading] about Global Leadership in Modern Times: An Intersection of Culture, Politics, and Economics
A classic example of an organisation that failed to innovate and strategically adapt to both changes and pressures in the external environment (particularly technological changes) and its strategic positioning in a rapidly changing marketplace was … [Continue reading] about Blockbusters Case Study
A Guide to the various Generations, from Boomers to Gen Z and beyond. Understand the various generations of people, their differences and similarities, their unique experiences and perspectives. Learn about the various strategies to communicate and … [Continue reading] about Breaking Down the Generational Divide: Understanding X, Y, Z and Beyond
Entrepreneurship is the process of starting and running a new business with the goal of making a profit. It requires a combination of vision, creativity, perseverance, adaptability, business acumen, and willingness to taking risks. It typically … [Continue reading] about Entrepreneurship Theories & Concepts: All About Creating a Winning Business
Entrepreneurial traits and characteristics are the personal qualities and skills that successful entrepreneurs possess. Let's take a closer look at some of these traits. The description of the enterprising person is drawn from what is known about … [Continue reading] about Key Traits of Successful Entrepreneurs
Digital marketing is marketing using digital channels, such as the internet, social media, email, mobile apps, and more. It enables businesses to reach out to potential customers through various electronic devices, including desktop computers and … [Continue reading] about What is Digital (Social Media) Marketing?
Global Marketing Gaffes: Here are some examples of how companies failed when localizing their business in different countries leading to embarassing results. Braniff International Airlines translated a slogan touting its finely upholstered seats … [Continue reading] about Global Marketing Gone Wrong: The Most Embarrassing International Marketing Fails
Best Finance and Accounting: Books, Journals and Resources. Best Finance and Accounting Books Here are the best books on Finance and Accounting that are aimed at undergraduate, graduate and MBA students studying finance and accounting … [Continue reading] about Finance and Accounting: Books, Journals and Resources
Global Retailing is any retailing activity that crosses national boundaries. For centuries entrepreneurial merchants have ventured abroad to seek out merchandize and to establish retail operations. Today’s global retailing scene is characterized by … [Continue reading] about Global Retailing
Branding is about creative a strong perception of a company and its product/services in the minds of the consumers. A truly global brand: meets the wants and needs of a global market is offered in all world regions has the same brand name, and in … [Continue reading] about Global Branding and Glocal Branding Strategies
Economic integration is an arrangement between several countries to improve trade between them. In the global landscape, Economic Integration usually can be classified into various additive levels. Regional Economic Integration (Preferential Trade … [Continue reading] about Economic Integration: Various Levels Explained
In attempting to understand anther culture, we inevitably, interpret our new cultural surrounding on the basis of existing knowledge of our own culture. There is a human tendency towards ethnocentricity. These ‘biased’ interpretations happen … [Continue reading] about Self-Reference Criterion (SRC) Explained
EPRG (acronym for Ethnocentric, Polycentric, Regiocentric, and Geocentric) is a framework to explain internationalization approaches of businesses. It is used in the internationalization process of businesses, and helps understand the type of … [Continue reading] about The EPRG Framework/Model of International Business
There are several change management models that help organisations implement change successfully. Here we take a look at the various models and theories to help manage change. Introduction to Change Management Change management refers to changes to … [Continue reading] about Change Management: Various Models/Theories to manage change better
The Emergence of a New Economic Powerhouse: The rise of BRICS (Brazil, Russia, India, China and South Africa) as the 21st century’s engines of global economic growth. There is a shift of power within the world economy towards these countries, … [Continue reading] about The Rising Power of Emerging Markets
Best Human Resource Management (HRM) Books, Journals and Resources. Books Essentials of international human resource management : managing people globally. International human resource management : the transformation of work in a global context. … [Continue reading] about Human Resource Management (HRM): Books, Journals and Resources
Understand the structure of Global Competition and resulting strategic options. The Globalization of Competition An inevitable consequence of globalization of markets is the growth of intense competition on a global scale. Liberalization, … [Continue reading] about Understanding Global Competition and Strategies Moves
In Operations Management, the 4Vs refer to the four dimensions used to assess operations processes. Typology of Operations: 4Vs Operations can be categorised into four dimensions, referred to as The 4Vs typology. These four dimensions are Volume, … [Continue reading] about The 4 Vs of Operations Management Explained
Prahalad (2004) and Karnani (2007) discuss the role of private sector companies in responsibly serving bottom of the pyramid markets (low income markets) in efforts to reduce poverty. Prahalad (2004) suggests that businesses and governments should … [Continue reading] about Bottom of the Pyramid (BOP) Markets
Global advertising may be defined as messages whose art, copy, headlines photographs, taglines, and other elements have been developed explicitly for worldwide suitability. A standardized ad campaign requires a key message, delivered to the target … [Continue reading] about Global Advertising: Breaking Down Borders
In a globalized world, the entire world is a marketplace, and market segments are no longer considered based only on the basis of national borders. Products have always been travelling and international trade has existed for centuries. While … [Continue reading] about Global Marketing: Definition, Scope, Strategies, Examples
Marketing operates in a complex and changing environment. The marketing environment is the environment that a business operates in (Whalley 2010, p. 50). It involves the actors and forces outside marketing that affect marketing management’s ability … [Continue reading] about Marketing Environment: Understanding the internal and external environment
Every business needs product/services that it can sell to potential customers. While firms would prefer to have standardized products that they can sell over the world, there are various factors that compel firms to adapt their products. In general, … [Continue reading] about Product Adaptation and Standardization
Product is the first element of the marketing mix, and developing a product strategy requires coordinated decisions on product mixes, product lines, brands and packaging and labelling. In planning its market offering, marketers need to think through … [Continue reading] about Product (P of Marketing Mix) & Product Mix: Definition, Features, Examples
The success of a global strategy is influenced by the selection of an appropriate organizational structure to implement that strategy. The ideal structure of such as an organization should be a function of: the products and services to be sold in a … [Continue reading] about Organizational Structures for Global Marketing
The Pugh Matrix is a decision-making tool that is used to compare multiple alternatives and select the most favourable one. In this method, the various options are evaluated based on several weighted criteria. This is a variation of the L-shaped … [Continue reading] about Decision-Making Matrix (Pugh Matrix)