“Business has only two functions – Marketing and Innovation. All the rest are costs.” by Peter Drucker. I am a fair believer in the above quote. The only way a business can survive in this competitive world is to innovate new products and services. Once it has done with the innovation last step is to market them in the most effective way possible. Rest all the functions in a business are just a...
Ninety Nine, have you come across any product or services which only cost 199 or 99. It’s just one number less to a whole number. This is psychological pricing it is a part of marketing strategy which messes your brain out. This strategy is seen mostly in retail outlets and works like a charm. In the real world when we see this kind of pricing. Our brain immediately associates the price to...
Business Diversification is nowadays one of the most important strategy. With the advancement in technology, it is now next to impossible to keep a monopolistic win over a single product or service. Anyone can now jump in the same business and even do it better. So, diversification becomes very important for a business. It simply means to jump in a business, product, service where you currently...
We love the term “Free” don’t we want everything to be free. Most of the Free Businesses succeed majorly in the business line. They grow out like crazily in the market, not only grow they penetrate to an extent which we cannot even imagine. Free really doesn’t mean that a business is doing that for charity. What it really means that they have other plans for monetizing their efforts. Free for us...
Here let me explain to you why some businesses are being built for extinction. Future is shaping the world now; we are using technology almost daily. Some of the new technology is just crushing the businesses worldwide, for example, let’s look at Car manufacturers, application Uber is crushing it. Let’s look at Movie Theatres, an application like Netflix is crushing it. Let’s look at Camera...