Personal selling consists of individual and personal communication in contrast to mass advertising communication. According to Cundiff and Still , "Personal selling is basically a method of communication. It involves not only individual but also social behavior …

Scientific Management (Taylor's Theory): This theory synthesized and evaluates the workflows of an organization. It aims at enhancing labor productivity and economic efficiency. Thus, it applies science, processes and standards in management. Administrative Theory…

Organisational Development (OD) is the act, process or result of furthering, advancing or promoting the growth of an organization. Development is the act, mechanism, consequence or state of development, which in turn means advancing, promoting growth, developing the p…

It involves planning, organizing and directing processes in order to attain higher profitability. Operations management was previously known as production management where the entire focus was on manufacturing. However, today operations management is a multidisciplina…

Price is the only element of the marketing mix that generates revenue and it is also the most important determinant of the profitability of the business by way of sales volume. It is the competition that contributes the maximum to the importance of pricing. customers c…

A market is the aggregate of a given product. These consumers vary in their characteritics and buying behaviour. It is thus natural that many different segments occur within a market. Marketers usually divide the heterogenous market for any product into different segem…

Foreign Direct Investment (FDI) is the investment by a nation in another nation in manufacturing or business either by purchasing a corporation or extending its business abroad. Usually, it is through securities and shares. According to the Financial Times, "Stan…

According to Everett M Rogers, "Technology is designed for instrumental action that reduces the uncertainty in the cause-effect relationships involved in achieving the desired outcome." Technology change rates are at a rapid pace. With the emergence of advanc…

The three primary factors that determine pricing decision in international marketing are: Cost of the product or service. CompetitionĀ for the product or service in the foreign market. Demand for the product in the overseas market. Also, some other specific factors me…

Henry Fayol of France developed this theory. This approach focuses on principles that can be used by managers to coordinate the internal activities of organizations like planning, organizing, directing and controlling. It explained the process of managing an organizat…