1. Marketing Assistance: There are many marketing consultancies which offer marketing tips to the entrepreneurs. In some of the cases the marketing consultancies become partners in the business and they take care of things from the inception. Marketing research is an essential ingredient for a small buRead more

    Marketing Assistance: There are many marketing consultancies which offer marketing tips to the entrepreneurs. In some of the cases the marketing consultancies become partners in the business and they take care of things from the inception. Marketing research is an essential ingredient for a small business because this is the resource to let the company know whether the product offered is desired and demanded or not. So the entrepreneurs would do well to hire a marketing research company|to do this work for them.

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  2. In this method the entrepreneur starts his business with little or no funds. Most of his personal savings are employed or he may take advance orders and utilize the same money to pay the vendors. Self-funding is a lucrative and easy mode of financing but scaling up of business require outside fundsRead more

    In this method the entrepreneur starts his business with little or no funds. Most of his personal savings are employed or he may take advance orders and utilize the same money to pay the vendors. Self-funding is a lucrative and easy mode of financing but scaling up of business require outside funds too. Hence this method cannot be resorted to on a consistent basis.

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  3. Nature of Business Business is an economic activity with the aim to make profit and provides products and services to the society. The main purpose of business is earn profit. Profit is the main objective of every business. Business has always uncertainty, There is always a possibility of losses ofRead more

    Nature of Business

    • Business is an economic activity with the aim to make profit and provides products and services to the society.
    • The main purpose of business is earn profit. Profit is the main objective of every business.
    • Business has always uncertainty, There is always a possibility of losses of business.
    • Business is a regular process, it provides daily uses products and services.

    To read full article: Nature and Objectives of Business

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  4. Objectives of Business Create Employment, One of the objective of business is to create employment in the society. Social Responsibility, social responsibility is to solve social issues. Earning Profits, if the business wants to stay in long time. it needs to earn profits. Productivity, In order toRead more

    Objectives of Business

    • Create Employment, One of the objective of business is to create employment in the society.
    • Social Responsibility, social responsibility is to solve social issues.
    • Earning Profits, if the business wants to stay in long time. it needs to earn profits.
    • Productivity, In order to minimize price of the products, business need to improve productivity time to time.

    To read full article: Nature and Objectives of Business

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  5. Aims and Objectives of Business Market standing means position of an the enterprise in relation to its competitors. Innovation is the introduction of new ideas or methods in the way something is done or made. Productivity is an important activity of the business. In order to continuous survival andRead more

    Aims and Objectives of Business

    • Market standing means position of an the enterprise in relation to its competitors.
    • Innovation is the introduction of new ideas or methods in the way something is
      done or made.
    • Productivity is an important activity of the business. In order to continuous survival and progress,  business must aim to increase productivity.
    • physical resources includes plants, machines, offices, etc., and financial resources includes funds to be able to produce and supply goods and services to its customers.

    To Read Full Article: Nature and Objectives of Business

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  6.   Rights of partners in partnership 1.Rights to take part in the conduct and management of business. 2. Right to be consulted and heard in all maters affecting the business of the partnership. Right of free access to all records, books and accounts of the business, and also to examine and copyRead more

     

    Rights of partners in partnership

    1. 1.Rights to take part in the conduct and management of business.
    2. 2. Right to be consulted and heard in all maters affecting the business of the partnership.
    3. Right of free access to all records, books and accounts of the business, and also to examine and copy them.
    4. Right of share in profits equally, in absence of any agreement.
    5. Partner is entitled to be indemnified by firm for all the act done by him in course  of the partnership business, for all payments of made by him in respect of partnership debts or liabilities and for expenses and disbursements made by him in an emergency for protecting the firm from the loss.
    6. Every partner is a joint owner of the partnership property. He is entitled to have the partnership property used exclusively for the purposes of  the partnership.

    Duties of partners in partnership

    1. Every partner is bound to diligently carry on the business of the firm to the greatest common advantage.
    2. A partner is bound to keep and render true, proper and correct accounts of the partnership.
    3. A partner is bound to indemnify the firm for any loss caused by his willful neglect or fraud in the conduct of the business.
    4. A partner must not carry on a competing business, nor use the property of the firm for his private purposes.
    5. Every partner is bound to share the losses equally with the others.
    6. A partner is bound to act within the scope of his authority.

     

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  7. Role of Brand Extension it increase image of parent brand It gives new identity to the brand. It allows subsequent extension. it clarified Brand meaning. It increases market coverage of brand as it brings new customers. It increases revenue of parent company.

    Role of Brand Extension

      • it increase image of parent brand
      • It gives new identity to the brand.
      • It allows subsequent extension.
      • it clarified Brand meaning.
      • It increases market coverage of brand as it brings new customers.
      • It increases revenue of parent company.
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  8. Brand extension means entry in new segment of market by big company, which has already huge marketplace in different industry. Brand extension is good but companies need to done lots of research. Because it takes huge investments to enter into in marketplace and effect overall image of the brand.

    Brand extension means entry in new segment of market by big company, which has already huge marketplace in different industry.

    Brand extension is good but companies need to done lots of research. Because it takes huge investments to enter into in marketplace and effect overall image of the brand.

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  9. Purpose of Brand Extension To enhanced parent brand image. It increases market coverage. it clarified Brand meaning. Consumers can seek varieties. it saves Cost of developing new brands.

    Purpose of Brand Extension

    • To enhanced parent brand image.
    • It increases market coverage.
    • it clarified Brand meaning.
    • Consumers can seek varieties.
    • it saves Cost of developing new brands.
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  10. What is Branding? Branding is a part of marketing. it often used when companies want to introduce, position and establish themselves in the market. it is a creation of value of the product in the mind of consumers. Disadvantages of Branding in Business Huge development costs,  branding involves hugeRead more

    What is Branding?

    Branding is a part of marketing. it often used when companies want to introduce, position and establish themselves in the market. it is a creation of value of the product in the mind of consumers.

    Disadvantages of Branding in Business

    • Huge development costs,  branding involves huge cost because companies need to pay high cost of advertising and publicity.
    • Social Restrictions, Branding is effective for commercial products but when it comes to environmental products it increases cost which ultimately passed to the consumers.
    • Brand Maintenance, When the brand image suffer it directly effect its sells. That time is hard to reinvest huge amount again in branding.
    • Hard to Capture Market, Initially, it hard to create trust on brand by the consumers. So, sometimes companies need to invest huge amount for long time.
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