The Ansoff Matrix offers four strategies for growing a business, considering products and markets. We can use this model in strategic planning to
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Strategic Direction: How To Write It And Its Relation To The Ansoff Matrix
What's it: Strategic direction is about where we are going. It determines our plans and the steps we will take to realize
How Do Businesses Respond to A More Competitive Market?
Revisiting competitive strategy is one way to respond to a more competitive market. For example, in marketing, businesses identify what needs to be
Consumption Expenditure: Type, Determinants, Impact
What's it: Consumption expenditure refers to the money individuals spend on goods and services. In economics, we can also say it is the residual
Why are some markets becoming more competitive?
Some markets become competitive for several reasons. Globalization is the first reason. It makes the competition map wider because it involves foreign
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How Consumption Expenditure Affects the Economy
In macroeconomics, consumption expenditure affects the economy through aggregate demand. Economists include it as an item in aggregate demand in
Competitive Market: Characteristics and Examples
What it's: A competitive market refers to a market characterized by intense competition in which no player has a dominant power. It is identified
Which Factors Affect Consumption Expenditure?
Several factors affect consumption expenditure. Disposable income comes first. Without it, there is no income to buy the product. Other factors
Consumer Spending Patterns: Influencing Factors
What's it: Consumer spending patterns are changes over time in the total money individuals spend on goods and services for personal use. It also
How is the Marketing Department Structure Organized?
Marketing department structure may vary between companies. For example, a company's units might include sales, market research, promotion, and
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The Four Major Marketing Roles: What Are They?
Marketing plays an essential role in a business. Without this department, businesses cannot sell products. In fact, the company's products do not sell
What Are The Types of Demand?
This article will discuss the types of demand. What is a demand? Economists define it as the willingness and ability of consumers to buy goods at
How to deliver customer value? The types
There are several ways to deliver customer value. For example, it can be by quality, design, or other product attributes. Or, it could be through
Added Value: Definition, Why It Matters, Formula
What's it: Added value is an improvement or addition to something to make it more valuable. Businesses do this by processing inputs
Value-Added Product: Definition and Brief Explanation
What's it: A value-added product is any product we can sell at a price higher than it cost to produce it. It can have a broad meaning, like what
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Why is adding value important for a business?
Adding value is important for businesses because, with it, they can make a profit. Then, when it is better than their competitors and maintains it