What is Data Collection? Data collection is one of the most important stages in conducting research. Data collection is the process of gathering and measuring information on variables of interest, in an established systematic fashion that enables one to answer stated research questions, test hypotheses, and evaluate outcomes. The data collection component of research is
What is the Meaning of Price? Pricing is defined as the process of determining what a company will receive in exchange for its products. Pricing factors are manufacturing cost, marketplace, competition, market condition, and quality of the product. Pricing is also a key variable in microeconomic price allocation theory. Pricing is a fundamental aspect of
Factors Affecting Pricing Decisions Setting the price for any product is not very easy, various internal, as well as external factor, has to be taken into consideration before finalizing the price for any goods or services. The following are the different factors affecting pricing decisions: Internal Factors Affecting Pricing Decisions Following are the internal factors
What is Marketing and Customer Value? Customer Value is the sum total of benefits that customers will accrue from a service or product in relation to its cost. The Customer Value Proposition (CVP) would be the total amount of benefits offered by the seller in return for payment for the goods or services. It is
What is Business Market? The Business Markets include organizations that buy products on large scale either for the production of another product or for their own use. Organizations are buyers as well as sellers. Buying for Producing for Consumers Organizations buy products and add value to the same for selling to Consumers. These organizations are
What is Information System? Information systems are “A combination of hardware, software, infrastructure, and trained personnel organized to facilitate an organization’s planning, control, coordination, and decision making. Data is a raw material for information systems. Collecting data costs money and hence one must collect necessary and sufficient data. Data is generally input to the information
What is the Meaning of MIS? MIS is the use of information technology, people, and business processes to record, store and process data to produce information that decision-makers can use to make day-to-day decisions. MIS is the acronym for Management Information Systems. In a nutshell, MIS is a collection of systems, hardware, procedures, and people
What is MIS? A marketing information system (MIS) is a continuing and interacting system of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute pertinent, timely, and accurate information for use by marketing decision–makers to improve their marketing planning, implementation, and control. MIS is the use of information technology, people, and business processes
Future of CRM CRM has become an important component of every enterprise, from small businesses to multinational corporations. Sales and marketing teams are using CRM to optimize consumer interactions, attract and retain customers, and gain new customer-centric insights that are enhancing their businesses. Let us study the future of CRM from the banking perspective: Role
Benefits of CRM There are many benefits of CRM or advantages of CRM. Let’s discuss them one by one in detail: Better Customer Service There are various functions of CRM software, but the main function for which it is created is to improve business-customer relationships. All the information about your customer is stored in one