Business intelligence

Business intelligence (BI) refers to computer-based techniques used in spotting, digging-out, and analyzing business data, such as sales revenue by products and/or departments, or by associated costs and incomes.

Business intelligence applications can be:

- Mission-critical and integral to an enterprise's operations or occasional to meet a special requirement

- Enterprise-wide or local to one division, department, or project

- Centrally initiated or driven by user demand

32. The concept of marketing: definitions, nature and applications in modern business practice.

Marketing is "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Marketing is used to identify the customer, satisfy the customer, and keep the customer. The term marketing concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions.

Another definition: "the management process that seeks to maximize returns to shareholders by developing relationships with valued customers and creating a competitive advantage."

How does it work:

1) Relationship marketing (build and keep good customer relationships)

2) Business marketing (B2B)

3) Social marketing (benefits to society)

4) Branding (brand value)

The best way to sell the product: Underline benefits of that product for a customer. For instance, sell only benefits - rent a car, service carpets. Another example: first-aid kits- sell the opportunity to buy it now with a discount, mention how the medicine that is placed inside the kit helps to heal wounds and etc.

Date: 2015-02-03; view: 762