Last Updated:
February 7, 2012

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Business marketing vs. consumer marketing

Although on the surface the differences between business and consumer marketing may seem obvious, there are more subtle distinctions between the two with substantial ramifications. Dwyer and Tanner (2006) note that business marketing generally entails shorter and more direct channels of distribution.

While consumer marketing is aimed at large groups through mass media and retailers, the negotiation process between the buyer and seller is more personal in business marketing. According to Hutt and Speh (2004), most business marketers commit only a small part of their promotional budgets to advertising, and that is usually through direct mail efforts and trade journals. While that advertising is limited, it often helps the business marketer set up successful sales calls.

Marketing to a business trying to make a profit (Business-to-Business marketing) as opposed to an individual for personal use (Business-to-Consumer, or B2C marketing) is similar in terms of the fundamental principals of marketing. In B2C, B2B and B2G marketing situations, the marketer must always:

successfully match the product/service strengths with the needs of a definable target market;
position and price to align the product/service with its market, often an intricate balance; and
communicate and sell it in the fashion that demonstrates its value effectively to the target market.

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IMPORTANCE OF ADVERTISING IN MARKETING

Advertising has become increasingly important to business enterprises – both large and small. Outlays on advertising certainly attest to the management’s faith in the ability of advertising efforts to produce additional sales. It would be difficult to conceive of a firm that does not attempt to promote its product in some manner or another. Most modern enterprises simply cannot survive without advertising.
Non- business enterprises have also recognized the importance of advertising. The attempt by army recruitment is based on a substantial advertising campaign, stressing the advantages of a military advertising. In fact, it is reasonable to say that advertising now plays a larger role in non-business enterprises than it ever did in the past.

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Improve your business caliber with accounting outsourcing

Improve your business caliber with accounting outsourcing

For business owners, who dream to make a distinct place in market, keeping a track of financial events and transactions is imperative in comparison to other factors. In businesses where accounting section do not get proper treatment and managerial efforts, financial problem keeps on rising. If you are planning to step into the corporate world and have comparatively less knowledge about accounting technicalities, then accounting outsourcing can be your best companion to get familiar with them. It makes you understand the power of perfect co-ordination of various pieces of the financial data. The management of financial records is far more important and endeavor intensive than most companies realize when they first enter the business arena. Approximately 40% of the total cost is needed to properly manage the accounting section; now you can guess that how much human and financial resources an accounting section needs. (more…)

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Islamic Economics

Islamic Economics:

Islamic banking is based on the principles of Islamic economics — an economic framework in accordance with Islamic law (Sharia’h).

There are two types of Islamic economics:

  • Caliphate , the Islamic form of government representing the political unity and leadership of the Muslim world (Islamic political framework)
  • Assuming the political framework is non-Islamic, therefore, seeking to integrate some prominent Islamic tenets into a secular economic framework. (more…)
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Motivational Management and Developing Leadership Skills

Whether you work in a hospital, private practice, health maintenance organization, government facility, or university, you probably supervise other people. Your behavior as a manager has a direct impact on staff performance, productivity, satisfaction, and tunover. In this article, an expert management consultant examines qualities of managers who motivate, providing proven techniques to inspire those who work for you.

Perhaps the single most important technique for motivating the people you supervise is to treat them the same way you wish to be treated: as responsible professionals. It sounds simple; just strike the right balance of respect, dignity, fairness, incentive, and guidance, and you will create a motivated, productive, satisfying, and secure work environment.

Unfortunately, as soon as the complexities of our evolving health care delivery system mix with human relationships, even the best-intentioned supervisors can find the management side of their jobs deteriorating into chaos. Today’s health care providers face expanding workloads, fewer resources, greater patient expectations, increasing threats (e.g., malpractice lawsuits), and closer scrutiny, especially from third-party providers. The art of healing is being transformed into a business. And like it or not nurse practitioners and physician assistants often find themselves in middle-management roles, with tremendous responsibility and little real authority. Job performance is reflected more in the bottom line than in the quality of patient care. Why, in this environment, do some managers thrive while others burn out? The answers lie in each manager’s ability to inspire trust, loyalty, commitment, and collegiality among team members. The same techniques that work elsewhere in business can bring success in nursing and medicine – whether you’re working in clinical practice, administration, or academia. More often than not, though, the task can be accomplished only by replacing learned behaviors with newer, more effective models.

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The Recipe for Success

Andrew Baird ,Partner, Asset Finance

The Islamic finance sector in the United Kingdom has seen enormous growth both domestically and internationally. London is one of the top five financial centers in the world for Islamic finance and is the premier center outside the Muslim world. What are the key factors that have lead to this success?

An essential ingredient is a regulatory framework that can accommodate Islamic finance principles and a regulator that is prepared to work with Islamic institutions to overcome technical hurdles. The Bank of England has had a close interest in the Islamic banking sector since the early 1990s. The Financial Services Authority, created in 1998, articulated the policy of “no obstacles, no special favors,” its approach being one of establishing a level playing field within the overall framework of its risk-based approach to regulation.

There must be a tax regime that enables Islamic financing structures and products to be treated in an equivalent manner to their conventional counterparts. The U.K. tax authorities’ aim has been to ensure that Shariah-compliant financial products are taxed in a way that is neither more nor less advantageous than equivalent banking products in the conventional sector. A package of measures has evolved and been introduced over a period of six years which, in broad terms, works by setting out particular fact patterns that describe generically equivalent Islamic financing structures and products, but without naming them, and applying specific tax treatment to putting them on a level playing field with the nearest equivalent conventional financing structure. The specific tax treatment is not restricted to Muslim customers or Shariah-compliant products. Indeed, the legislation is silent on this, as to avoid discrimination issues. (more…)

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