Importance of Marketing Research to Government

Marketing Research plays a significant role in helping Government to perform some of its crucial regulatory functions. It provides an up-to-date market-related data to the government and helps it to monitor, plan, coordinate and regulate the entire economy of its area of jurisdiction. The government studies information provided by MR and uses it to understand the market forces, formulating policies, fixing critical priorities, allocating resources, providing social welfare benefits, regulating a market, stabilising an economy, so on.

Importance of marketing research to government is as follows:

importance of marketing research to government

Image credits © Gaurav Akrani.

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Fayol's Principle of Division of Work - Meaning, Example, Explanation

Principle of Division of Work

In context of this article, let's revise the meaning of following words:

  1. Division of something (e.g. an object, a process, work, etc.) means to divide, chop or break it up into smaller parts to facilitate a better understanding, easier handling and operation, and focused observation on a fixed set of goals. It is a way to separate things apart based on some established criteria like quality, quantity, nature of work, so on. It untangles, simplifies, and narrows down various complexities that were involved prior separation. It helps to ease and enhance the efficiency of managing a giant complex task through smaller chunks that are easy to handle.
  2. Work is any assigned job, task, duty, goal or an objective one is supposed to accomplish (achieve) before the deadline (on-time) and as expected at the expense of one's mental and physical labour to earn the desired reward (usually monetary but not always) in return.

With this understanding, let's grasp the meaning of division of work:

meaning of division of work

Image credits © Gaurav Akrani.

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Principles of Good Layout for an Advertisement Copy

Principles of Good Layout

The twelve features, qualities, or principles of good layout are as follows:

principles of good layout

Image Credits © Manoj Patil.

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Basic Assumptions of Law of Demand

Assumptions of Law of Demand

Law of Demand can operate and remain valid only if certain things like income, population size, climate, consumer's tastes and expectations, etc., are assumed to remain constant or equal. In other words, there is a need for an assumption or a consideration that these things do not change at all under any circumstances.

The six basic assumptions of law of demand are as follows:

assumptions of law of demand

Image Credits © Gaurav Akrani.

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Limitations of Planning in Management - Disadvantages

Twelve demerits, disadvantages or limitations of planning in management.

limitations of planning

Image Credits © Manoj Patil.

square 1. Time Consuming

Planning involves the collection of data, analysis of data, forecasting, etc. All this consumes a lot of precious time. Therefore, planning is a time-consuming activity.

square 2. Costly

Planning is the work of experts. They get paid very high salaries to make good plans. Companies spend an enormous amount of money in collecting and analysing data. Therefore, planning is a costly affair.

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