Marketing Notes - Alliance Marketing Concept

Question - What do you mean by the term 'Alliance Marketing'?

Answer

Introduction

Everyone knows one plus one is equals to two, but sometimes it is equals to eleven, synergy between the forces makes it possible. Synergy is the interaction of two or more forces so that their combined effect is greater than the sum of their individual effects.

In business two or more organizations comes together to produce some kind of synergistic effect or result. Similar happens in alliance marketing where two or more organizations jointly undertakes marketing activities.

Meaning of Alliance Marketing

Alliance Marketing is marketing activity undertaken by two or more organizations, jointly to promote product, service, or concept with the purpose to provide benefit to all the stakeholders.

Alliance marketing involves pooling resources like - expertise, brand reputation, distribution infrastructure, or money, to produce an effect/result which would be more difficult and costly to achieve independently.

Importance of Alliance Marketing

To gain access to a non-competitive businesses' customers - Businesses not competing with each other can promote one another, they can refer customers back and forth to increase their sales.
To pool knowledge, expertise, and resources - Pooling expertise, resources, and efforts reduce inefficiencies and expenses.
To turn competitors into partners
To expand into new markets - Independent expansion requires heavy investment, resources, and development of new distribution channels. Alliance marketing makes it easy, a firm in one country can offer a product through another firm already established in another country, thus expand into new market immediately.

For an alliance to work all the involved parties must work closely together to create business. The alliance/relationship must be communicated well to all the stakeholders. The greater the stakeholders' understanding of the value of the alliance, the more they can contribute to its success.

Functions of Human Resource Management

Question - What do you mean by Human Resource Management? Explain various functions of Human Resource Management. Answer Meaning of Human Resource Management Human Resource Management is a management function concerned with hiring, motivating, and maintaining the workforce in an organization. Human resource management deals with issues related to employees such as hiring, training, development, compensation, motivation, communication, and administration. Human resource management ensures the satisfaction of employees and the maximum contribution of employees to the achievement of organizational objectives. According to Armstrong (1997) , Human Resource Management can be defined as “a strategic approach to acquiring, developing, managing, motivating and gaining the commitment of the organization’s key resource – the people who work in and for it.” Functions of Human Resource Management Human Resource Management functions can be classified into the following

MBA Notes - Nature and Scope of Marketing

Question - Define marketing and explain the nature and scope of marketing.

Marketing Management Notes

The purpose of the MBA Marketing Management Subject is to develop an understanding of the underlying concepts, strategies, and issues involved in the marketing of products and services. Marketing Management contains five modules: Marketing Concepts and Challenges; Marketing Planning and Control; Marketing Mix, Understanding Customer, and Marketing Information System; and Marketing Strategies. It explores the following topics in detail; Social Marketing, Marketing Mix, Customer Value, Competitor Analysis, Consumer Behaviour, Demand Forecasting, Market Segmentation, Targeting, and Positioning. Module I: Marketing Concepts & Challenges Nature and Scope of Marketing Management , Definition and Meaning of Marketing, Nature and Scope of Marketing, Marketing Process, Marketing Environment, Marketing Organisations, Marketing Challenges, Concept of Green Marketing, Concept of Social Marketing, Concept of Alliance Marketing, Marketing Mix . Module II: Marketing P

e Notes MBA

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