Category: Entrepreneurship and communication skills

It leads to creation of a better social environment both for the society and the business It improves the value of the business shares on the stock exchange It improves the image of the business to the public It makes Read More …

A marketing tool Conducive atmosphere for the success of the business Environmental conservation programmes Ensures security for workers Social welfare programmes

Social responsibility can be put into three main categories. social obligation social reaction social responsiveness a. Social obligation Based on the fact that society supports a business by allowing it to exist, the business has a duty to supply the Read More …

The business operators have a responsibility to protect and improve society and their actions should not in any way endanger a community or society. They should display high degree of corporate responsiveness which is the ability of an organisation to Read More …

Social responsibility refers to the fact that businesses should not just be concerned with profit maximisation but should do so in a socially responsible manner. This responsibility requires the management of the business to consider the social and economic effects Read More …

i) E – commerce – use of ICT, e.g. The Internet to market business activities and products ii) Focusing on the customer needs or satisfaction iii)       The need for meeting quality standards (KEBS) iv)       The need to address environmental standards Read More …

Market information can be gathered through: Asking customers. Reading relevant materials e.g. business pamphlets. Getting information from chamber of commerce Exhibitions/ shows/trade fairs. Listening to people talk.

Under the marketing concept, the firm must find a way to discover unfulfilled customer needs and bring to market products that satisfy those needs. The process of doing so can be modeled in a sequence of steps: the situation is Read More …

The marketing mix framework was particularly useful in the early days of the marketing concept when physical products represented a larger portion of the economy. Today, with marketing more integrated into organisations and with a wider variety of products and Read More …

Market components are commonly referred to as marketing mix. Marketing mix consists of the following components: i) Product Product refers to tangible, physical products or services that a business offers for sale. During the product design and development, an entrepreneur Read More …