Market and marketing are some of the key success factors of any business activity. Without the existence of a market, other factors like production, personnel, finance and so on have little or no significance. Thus, market and marketing analysis are important aspects of a feasibility study as they reveal the marketing prospect for the product or service which have a direct bearing on sales revenue and profitability of the proposed industry. Experience have shown that many projects have had to be abandoned on account of insufficient market prospects.Continue Reading
Purchasing, Supplying And Selling Of Goods And Services
PURCHASING, SUPPLYING AND SELLING OF GOODS AND SERVICES
PURCHASE AND SUPPLY OF GOODS AND SERVICES
Purchasing and supply are the activities of acquiring goods or services to accomplish the goals of an organization. It involves the procurement, storage, and monitoring of goods sold in a store, as well as machinery, supplies, or other raw goods.Continue Reading
Planning For A Personal Marketing Outlet
PLANNING FOR A PERSONAL MARKETING OUTLET
SOURCES OF FUND
There are many sources of business funds, but the most common ones are:
Self-financing
This is the number-one form of financing used by most small-business owners. In addition, when you approach other financing sources such as bankers, venture capitals or the government, they will want to know exactly how much of your own money you are putting into the venture. After all, if you don’t have enough faith in your business to risk your own money, why should anyone else risk theirs?Continue Reading
Information & Communication Technology (ICT)
INFORMATION AND COMMUNICATION TECHNOLOGY (ICT)
THE ROLE OF ICT IN INTERNATIONAL MARKETING
Information and Communications Technology (ICT) according to Fathi Al Riyami (2013), provides businesses with avenues that allow them to remain competitive in local and global economies.Continue Reading
Organising For International Marketing
ORGANISING FOR INTERNATIONAL MARKETING
APPROACHES TO INTERNATIONAL MARKETING
Indirect Export
Indirect market entry methods involve the use of intermediaries who handle all documentations, physical movement of goods, and channels of distribution for sale, indirect exports may take place either with or without the knowledge of the manufacturer himself.Continue Reading
Meaning & Reasons For International Marketing
MEANING AND REASONS FOR INTERNATIONAL MARKETING
MEANING OF INTERNATIONAL MARKETING
International marketing according to Tim Friesner (2014) is simply the application of marketing principles to more than one country. International marketing in the opinion of Ubrii (2001) refers to the marketing activities in one or more countries outside the domestic operational base of a firm. In essence, it concerns the practice of marketing and the maintenance of competitive advantage across international borders.Continue Reading
Marketing Of Mineral Products
MARKETING OF MINERAL PRODUCTS
WHAT ARE MINERAL PRODUCTS?
To meet the definition of “mineral” a substance must meet five requirements:
• naturally occurring
• inorganic
• solid
• definite chemical composition
• ordered internal structure
“Naturally occurring” means that people did not make it. Steel is not a mineral because it is an alloy produced by people.Continue Reading
The Marketing Role Facilitators
THE MARKETING ROLE FACILITATORS
WHO ARE FACILITATORS?
Because marketing functions require significant expertise, it is often both efficient and effective for an organization to use the assistance of independent marketing facilitators. These are organizations and consultants whose sole or primary responsibility is to handle marketing functions.Continue Reading
Structures & Market Unions For The Sale Of Products
STRUCTURES AND MARKET UNIONS FOR THE SALE OF PRODUCTS
PRIMARY AND SECONDARY PRODUCTS
Primary Products
Primary products are products in their natural states for example, raw materials that are “extracted” from the land or ocean. They include products of mining, agriculture, forestry and fisheries. These goods are either sold as it is or used as raw materials for use in processing or manufacturing.Continue Reading
Warehousing – Types, Functions & Advantages
WAREHOUSING – TYPES, FUNCTIONS AND ADVANTAGES
WHAT IS A WAREHOUSE?
A warehouse is a commercial building for storage of goods. Warehouses are used by manufacturers, importers, exporters, wholesalers, transport businesses, customs, etc. They are usually large plain buildings in industrial areas of cities and towns and villages.Continue Reading
