21Oct 2018 by admin

The Importance of Socio-Cultural Environment for the Growth of any Business

Decision Making
Social environment is also discussed as cultural or socio- cultural environment. Social environment includes cultural aspects as well. How do we behave as consumers depend upon values, beliefs, attitudes, customs and norms, and lifestyles.These forces do impact what, why, where, how and when people buy products and services. Socio-cultural forces like other forces present both opportunities and threats. Three things need specific mention – demographics, values and consumerism. Culture includes language, religion, values and attitudes, manners and customs, material elements, aesthetics, education, and social institutions as its important elements.Language, a powerful tool of communication, is an expression of a culture. What language is to be used on label depends upon the market it serves. Many North Indian businessmen speak very good Tamil, Malyalam, Kannad, and Telgu as they have to…
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21Oct 2018 by admin

What is the Importance of Rural Marketing in India?

Marketing
Indian rural economy is getting stronger and stronger. According to Nielsen’s survey the rural market for FMCG (Rs 65,000 crore), Durables 5,000 crore), and clothing and Footwear (Rs 35,000 Crore) was as large as Rs 1, 05,000 crore in 2008. Certainly the size is much bigger now. According to Nielsen, by 2025, the rural FMCG sales is estimated to reach $ 100 billion from the current $12 billion.Rural India offers sustainable sales and profit for growth. There are more enterprises in rural India than in urban today contributing significantly to the non-farm output. Following factors have contributed to the growth of rural marketing: 1. Employment Opportunities: The income from new employment schemes and rural development efforts of the government and the corporate sector efforts has increased the purchasing power of…
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21Oct 2018 by admin

Intensity of Market Coverage – An Effective Strategy of Product Distribution

Industry
While selecting channels of distribution the marketer must decide about the number of customers it wishes to reach and the intensity of distribution, and then has to employ one of the three different distribution strategies: i. Intensive Distribution: Products which are of mass use like bread, salt, etc. or relate to impulse purchase such as chocolates or too small and simple, marketers go for intensive distribution. In these cases the customer loyalty is found to be low. Customers can buy any brand if their choice brand is not available. This is the reason that Dabur Hajmola is available at a grocery store, chemist shop, panwala, and bakery shop. Intensive distribution’s aim is to provide maximum coverage of the market by using all available outlets. Image Source: view-talay-pattaya.com ADVERTISEMENTS: Intensive distribution…
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20Oct 2018 by admin

5 Important Principles of Marxist Ethics – Explained!

Industry
Major principles of Marxist ethics, are as follows: (1) Theory of Equality, (2) Theory of Freedom, (3) Theory of Progress, (4) Theory of Identity of Ends and Means, and (5) Approximation of Armed Revolt. 1. Theory of Equality: Equality implies the uprooting of economic classes. All should work equally and receive equal wages. And only communism can achieve this equality of labour and wages. The socialist order is only a step in the same progress. Communism recognizes the difference in powers of individuals, thus equality has been limited to the economic field. Image Source: thedroneinfo.com 2. Theory of Freedom: ADVERTISEMENTS: According to Hegel, freedom lies in the recognition of necessity. In the words of Angles, “Freedom is not achieved by escaping natural laws. Freedom is in understanding them and making…
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20Oct 2018 by admin

Useful Notes on “Planning in India” (Planning Commission and National Development Council)

Strategy
Development, Planning and administration in IndiaThe complexity of social life coupled with socio­economic problems of all character at the time of independence led India to embark on development through a model of planned economy.Wherein, Civil Service came to occupy central place for government’s effort to transform and develop India. Image Source: enimg.newsbharati.com 1. History of Planning in India: ADVERTISEMENTS: i. 1935: National Planning Committee with Nehru as Chairmanii. 1945: Birla Planiii. 1946: Planning Advisory Board ADVERTISEMENTS: iv. 1950: Planning Commission with PM as Chairmanv. 1952: National Development Council 2. Planning Commission (1950): A body created by recommendation of the cabinet with a view to frame plan for the entire country so as to bring about balanced growth. Its functions were:i. To assess the material, capital and human resources of the…
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20Oct 2018 by admin

Short Speech on “Brain Drain”

Workforce
The term “Brain Drain” has come into limelight with the trend of educated and skilled people and workforce moving from one country to another to achieve career gains. The talent of such people as a result becomes available to the nation to which they relocate.The biggest disadvantage of brain drain is the depletion of talent from the native nation which may badly need their skills and talent. It is the migration of country’s intellect which may have otherwise served their motherland and contributed to its prosperity.Thus, this brain drain or ‘Human Capital Flight’ as it may be called, becomes a threat to the growth of countries which lose the human resources, rich in technical skills or knowledge. This has also increased the disparity in the economic and social prospects of…
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20Oct 2018 by admin

Essay on “Kashmir” (1000 Words)

Industry
The word ‘Kashmir’ is derived from the Sanskrit word meaning Land of Kashyap. Rishi Kashyap was one of the Saptarishis who was a Saraswat Brahmin and formalized the ancient Historical Vedic Religion. His descendants or the Kashmiri Pandits as they are commonly known named the valley in his honor.Kashmir falls in the northwestern region of the Indian subcontinent. The geographical denotions of Kashmir include the valleys between the Great Himalayas and the Pir Panjal Mountain range, until the mid -19th century.At present, it also includes the larger area of Indian-administered state of Jammu and Kashmir comprising of the three divisions of Kashmir valley, Jammu and Ladakh. Kashmir shares its borders with Pakistan as well as China. Kashmir region has been a center of Hinduism, Buddhism followed by Kashmir Shaivism. Shah…
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20Oct 2018 by admin

Essay on the rights and obligations of patentee

Accounting
A patent is a statutory grant conferring certain monopoly rights on the grantee for a definite period, subject to certain conditions. In some respect it may be considered as a species of property. The owner of the “Patent”, i.e. patentee is entitled to deal with such property in the same manner as owner of any other moveable property.(a) The patentee can sell the whole or part of this property (Patent).(b) He can also grant license to other(s) to use the patented property. ADVERTISEMENTS: (c) He can also assign such property to any other(s).Such sale, license or assignment of such patented property naturally has to be for valuable consideration, acceptable mutually. In respect of process patents relating to drugs and food, the term is five years from the date of sealing…
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20Oct 2018 by admin

Military Reforms of Alauddin Khilji – Essay

Branding
The reign of Alauddin Khalji is considered significant due to his military reforms. Barani has written in this context, “Kingship is maintained by two pillars—first is administration and second is conquest. Both pillars are supported by the army. Kingship is the army and the army Kingship.”Prior to Alauddin there was no permanent army at the centre and the Sultans had to depend on the armies of the governors and Jagirdars. Alauddin removed this severe defect. He maintained a powerful army at the centre so that the revolts could be crushed at the outset and the Mongo’ invasion could, be repulsed effectively.As the provincial governors and officers deceived the centre regarding recruitment and training of the soldiers. Alauddin organ­ized his army under the following categories. Image Source: 4.bp.blogspot.com ADVERTISEMENTS: 1. Bodyguards…
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19Oct 2018 by admin

10 Major Differences between Micro and Macro Economics – Explained!

Industry
The Major Differences between Micro and Macroeconomics are mentioned below:1. The word ‘Micro’ means small. It is a study of individuals or groups. According to Shapiro “Microeconomics deals with small parts of the economy.” It is a piece meal study. On the other hand, ‘Macro’ means large. It is a study of economy as a whole. ADVERTISEMENTS: 2. Microeconomics is a study of particular households, particular firms, particular industries, particular commodities, particular prices etc. On the other hand, Macroeconomics deals with aggregate of these quantities, not with individual incomes but with the national income, not with individual prices but with the price level, not with individual output but with the national output.3. The objective of microeconomics is to maximise utility or maximisation of profit or minimisation of cost. But the…
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