organizational chart

Meaning of Production Standards Production standard is a criterion or yardstick or benchmark. It is used for measuring the production of the company.Production standards are fixed for raw materials, production process, tools and equipment, workers, conditions of work, speed of work, quantity of output, quality of output, etc.Production standards are mostly expressed in quantitative terms. That

Meaning of Inquiry Commission The commissions of inquiry are always set up in India under the provision of The Commissions of Inquiry Act, 1952. The task of such a commission is to collect all the relevant information, data and concerning documents, etc., for its examination and to determine its conclusion on the subject matter of public importance. The Government's duty is to see to it that

What is Droit Administration? Droit Administration is a unique characteristic of the administrative setup of France.According to British Jurist Albert Venn Dicey (4th Feb 1835 - 7th April 1922), the Droit Administrative system is based on the following of two ordinary principles, namely:The government and its every servant possesses special rights, privileges and prerogative as against private

Definition of Marketing Audit The definition of marketing audit as stated by Abe Schuchman is as follows:�Marketing audit is a systematic, critical and impartial review and appraisal of the total marketing operation: of the basic objectives and polices and the assumptions which underlie them as well as the methods, procedures, personnel and organization employed to implement the policies and

Distinguish Between MIS and Marketing Research (MR) Following image depicts the ten main points which are used to make a comparison or distinction between MIS and Marketing Research (MR).Image credits � Prof. Mudit Katyani.Difference between MIS vs MR is based on the following ten points:Meaning of MIS and MR. Their basic or main purpose. Wide or narrow scope. General or specific nature. Number

Essential Requisites of a Good MIS The following image depicts the eight essential requisites of a good MIS.Image credits � Prof. Mudit Katyani.The essentials of a good Marketing Information System (MIS) is listed below:MIS must be unified and centralized. It must facilitate decision making. It must provide quick and accurate information. It must be economical. It must be selective. It must be

Components of Marketing Information System MIS Marketing Information System (MIS) collects, analyses, and supplies a lot of relevant information to the marketing managers. It is a valuable tool for planning, implementing and controlling the marketing activities.The role of MIS is to identify (find out) what sort of information is required by the marketing managers. It then collects and analyzes

Features of Marketing Information System MIS The main characteristics or features of Marketing Information System (MIS):Image credits � Prof. Mudit Katyani.Continuous system : MIS is a permanent and continuous system of collecting information. It collects information continuously. Basic objective : The basic objective of MIS is to provide the right-information at the right-time to the

Marketing Information System MIS Definition 1. According to Donald Cox and Robert Good,�An MIS may be defined as a set of procedures and methods for the regular, planned collection, analysis, and presentation of information for use in making marketing decisions. This of course is a step beyond logistics systems, which handle inventory control, orders, and so forth.�This definition of Marketing

Objectives of Marketing Research The main objective of marketing research (MR) is to provide information to the marketing manager. The marketing manager uses this information to make marketing decision and to solve marketing problems.The purposes or objectives of marketing research are listed below.Identify the consumer response to the company�s product. Know the consumers� needs and

Need For Marketing Research In recent years, the scope of business has expanded from local to global level. The size of the production has greatly increased. The production is now centralized, and the consumption centers are widespread. This has created a wide gap between the manufacturer and consumer. This has caused basic problems like what to produce and what to sell.There is a need for

Difference Between Marketing Problem Vs Marketing Research Problem Following image highlights eight important points used to distinguish between marketing problem vs marketing research (MR) problem.Image credits � Prof. Mudit Katyani.Difference between marketing problem and marketing research problem is based on the following eight points:Meaning of marketing problem and marketing research

Functions of marketing research The following image depicts five basic functions of marketing research.Image credits � Prof. Mudit Katyani.The five main functions of marketing research (MR) are:Description, Evaluation, Explanation, Prediction, and Aid in decision making. Now let's discuss these prominent functions of marketing research.Description : Marketing research gives full description about

Need and Importance of Marketing Research (MR) A business faces many types of marketing problems. It faces problems about its product, price, place and promotion. It also faces problems about product design, packaging, branding, marketing channels, advertising, etc. Some marketing problems are very serious. Therefore, in the marketing, managers use marketing research as an important tool to

Limitations of Marketing Research Though marketing research (MR) has many advantages, it also has many limitations or disadvantages.Marketing research studies consumer behavior and marketing environment. Since these factors keep on changing, it cannot give exact information. MR is also a social science. So, it cannot give exact solutions. It cannot be an alternative to decision making. In other

Importance of Advertising The following image depicts the importance of advertising.Image credits � Gaurav Akrani.The significance of advertising in business:Crucial for a launch or announcement, Source of revenue for publishers, Promotes goods, services, ideas, and events, Helps in increasing the sales, Maximize the profit of an advertiser, Creates consumer awareness, Educate the society, Is