Licensing is an arrangement whereby a licensor grants another party (the licensee) the right to use its intellectual property rights for a specified period. In return, the licensor receives royalties from the licensee. The agreement can be exclusive
Grow Your Business
Becoming a Flexible Company: Key to Strategic Agility
Becoming a flexible company is essential for thriving in today's dynamic business landscape. By cultivating adaptability, agility, and resilience, organizations can navigate challenges, seize opportunities, and achieve long-term success. This guide
Passive Follower: Definition and Types
A passive follower is an individual who does not show active participation, critical thinking, or independent thinking. Therefore, they are considered not to show initiative or a sense of responsibility.When you become a passive follower, you
Joint Venture: Benefits, Types, Differences With Strategic Alliance Guide, Advantages, Disadvantages
A joint venture is a business arrangement between two or more partners for a specific purpose. The objective can be working on new projects or other business activities. Each partner contributes resources, owns shares, and agrees on how they will
Demand-based pricing: Definition and Types
Demand-based pricing is a pricing strategy based on how much the customer is willing to buy for a product or service. In short, companies charge prices based on perceived value as the central element.Types of demand-based pricingIn
Demand Analysis
Demand analysis is a study of the reasons underlying demand for a product or service. The aim is to estimate and predict customer demand for a product or service in a particular market. That way, the company can anticipate sales and adopt the right
Price Discrimination: Meaning, Types, Effects
Price discrimination refers to the practice of charging different prices to different buyers for the same product. Even though the quality and cost of production are the same, the company tries to take advantage of various market needs, for example,
Sales Promotion: Importance, How It Works, Advantages, Disadvantages
Sales promotion is one way for companies to generate more sales. It complements other promotion strategies such as advertising, personal selling, direct marketing, and publicity.What is a sales promotion? Why does it matter?Sales promotion is
Master the Macro-environment: 6 PESTEL Factors for Business Success
The macro-environment is a constantly evolving landscape that presents businesses with challenges and opportunities. While demographic shifts tend to happen over longer periods, other factors, like technology and the economy, can be highly
Abilene Paradox: Avoiding Decision Traps for Aspiring Entrepreneurs
The Abilene Paradox describes a situation where a group (think business partners or a leadership team) reaches a decision that seems agreeable on the surface, but later everyone realizes it was a mistake. This phenomenon can be particularly harmful
4Ps of the Marketing Mix and its Components
4Ps are the four elements of a traditional marketing mix, including products, place prices, and promotions. These variables are strategic elements in delivering superior value to customers and produce successful marketing. Marketers have control over
Brand: Definition, Importance, Type
What's it: Brand refers to the name, logo, term, sign, symbol, or design, or a combination to identify your product. It acts as a differentiator from your competitors' products. Brand image is closely related to the level of credibility,