Importance of Marketing strategy, Plan is given in the diagram below.
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Importance of Marketing in organizational success are given below.
Nature of Marketing plans are given in the diagram below.
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Explain the Nature of Marketing channels are given below.
Salient Features of Marketing Services are as follows:
What is Marketing Mix? are given in the diagram below.
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What is 4 P's of Marketing Mix? are follows:
Marketing mix is an important concept of marketing management. The main aim of every business organization is to earn and maximize its profits. For doing so, they concentrate on 4 factors, i.e. Product, Place, Promotion and Price, known as a marketing mix. They are also known as four 'Ps' of the marketing mix.
Concept of Marketing are given in the diagram below.
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What is Marketing? is given below.
Use of labour intensive technique was the main feature of production before Industrial Revolution. Production was on the small scale, before Industrial Revolution. Hence exchange of goods, purchasing and selling was very simple. However, after Industrial Revolution, sudden changes took place in production technique. Use of Machinery in place of Manpower was one of the major changes. Production was started in anticipation of demand on the large scale.
What is Marine Insurance? Define Marine Insurance is given in the diagram below.
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Marine insurance is the oldest form of insurance. It may be called as an origin of insurance business. Marine insurance is a contract of indemnity against the losses of account of perils of sea.
Marine Insurance is a contract between the marine insurance company and the insured or the shippers under which the insurance company undertakes to compensate the losses to the ship, the cargo or the freight due to particular marine peril, during sailing in exchange of a consideration of a certain amount of money (premium).
What is fire insurance is given in the diagram below.
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“A fire insurance is a contract under which the insurer in return for a consideration (premium) agrees to indemnify the insured for the financial loss which the latter may suffer due to destruction of or damage to property or goods, caused by fire, during a specified period.”
Fire insurance is the popular form of general insurance. It is perfectly based on 'Principle of Indemnity'. In fact, all the five principles viz. Principle of utmost good faith, insurable interest, indemnity, subrogation; mitigations of loss are applicable to fire insurance.
Meaning of Life Insurance are given in the diagram below.
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In Life Insurance contact, the human life is insured against old age illness, accident, death, etc. Life insurance contract is not a contract indemnity. Hence the insurer has to reimburse a definite sum on the maturity or completion of policy.
Insurance is based on the principle of economic co-operation. It is a pooling of risks and spreading over a number of persons. It is the basic principle of insurance. The premium is collected from a number of persons, and an insurance fund is created. From this fund, the compensation is given to the contributors who suffer contingent loss. In modern days, it is now a specialized branch of commerce. Today, insurance covers a wide range of risks. It now closely related to the day-to-day life of individuals as well as of the nation. It also plays a prominent role in the national economy.
Basic Principles of Insurance are given in the diagram below.
