Online Commerce Pathshala

MARKETING AND ITS FUNCTIONS    Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of a product or services and ideas to create exchanges with target groups that satisfy customer and organizational objectives. According to this concept, the focus of the business is on the creation of customers and to provide maximum satisfaction to him. Marketing begins much before production and continues much after the final sale to customers. Features of Marketing 1. Customer Focus: The activities that are oriented toward understanding and meeting the wants and needs of customers in marketing. This would also involve research into markets for potential customer needs, development of products to suit those needs, and marketing communications to inform customers about the product and how it will benefit them. 2. Customer Satisfaction: The ultimate objective of marketing is to create a satisfied customer who will then be brand loyal. This ...

INTRODUCTRION TO MANAGEMENT In general, the term management means the activities of the group of persons who manage the organization. It is a universal concept and practical everywhere, not only in business organizations, but also in government, religious, and charitable organizations . " Management is the art of getting things done through and with people in formally organized groups. it is the art of creating an environment in which people can perform and individuals could cooperate towards attaining of group goals." FEATURES OF MANAGEMENT Management is simply the process of structuring and coordinating resources to meet a particular objective. Inherently, large ranges of activities are involved from planning to organizing, leading, and controlling. Some major characteristics are discussed as below: 1. Goal-oriented: All activities related to management always focus on certain specific goals or objectives. The goals might either be short-term or long-term, financial or non...

  BASIC TERMS OF ACCPOUNTING 1. Asset:  An asset is something that belongs to a business and has economic value. It represents future economic benefit which the organization can, at some point in time, convert into cash. There are two basic kinds of assets: 2. Current Assets : These are assets that can be easily converted to cash within one year. Examples include cash, accounts receivable-this is money customers owe a business-inventory, and short-term investments. 3. Non-Current Assets : These are assets not expected to realize cash within one year; they are used for the long-term operation of a business. Examples include property, buildings, equipment, vehicles, and intangible assets like patents or trademarks . 4. Liability : A liability is an obligation of the business to some other entity. It is a future outlay of resources, usually cash, which the company is bound to pay. Liabilities can also be classified into categories like what happens in the case of assets: 5. Cu...

  Principles of Accounting Accounting is defined as the process of recording, summarizing, and reporting financial transactions to provide useful information for business decisions. The principles of accounting are the basis of the preparation and presentation of various reports in financial statements. Herein, an in-depth explanation of the essential principles of accounting will follow:  1 . Accrual Principle This accounting principle holds that financial transactions are thereby newbie recorded when they take place, not necessarily at the time cash changes hands. Seen differently, it means that revenues are recognized as earned, while on the other hand, expenses are recognized when incurred independent of the exchange of cash. Guess what? It gives a proportionate view of a company's actual financial standing. 2. Consistency Principle This principle requires companies to account and apply major accounting methods and key accounting principles in a consistent manner from...

Introduction and conc ept of Accounting  Accounting is the whole process of systematically recording, classifying, summarizing, and analyzing all financial transactions and information. It is therefore a tool used in tracking the financial activities of an organization or a company and itemizing the same in such a notation through which stakeholders involved, including investors, mangers, regulators, as well as the general public, are able to understand.    Concept of Accounting Elaboration: **1. Recording:** Recording, popularly known as booking-keeping, refers to the putting down in writing of all financial transactions that occur in a business. All the transactions are written down one after the other as and when they occur in the books of accounts or software. This ensures that every financial activity is captured in its entirety and with accuracy. **2. Classifying:** Classifying is the process by which recorded transactions are organized and grouped into appropriate ...

  MEANING OF COMMERCE WITH EASY CONCEPT   Commerce is a broad term that refers to the buying and selling of goods and services. It  involves all the activities related to the exchange of products or services between businesses   or individuals. Commerce encompasses various aspects such as trading ,marketing, finance, transportation,  and more . It plays a vital role in the economy by facilitating the flow of goods and services from producers to consumers. Commerce is defined as the exchange of goods and services between two or more entities.  It typically involves buying and selling things of value .commerce can take place  between  businesses ,or between business and consumers. CHARACTERISTICS OF COMMERCE VOLUNTARY EXCHANGE - in commerce, transactions occur willingly between buyers and sellers . both parties enter into the exchange agreement without any form of force or coercion .         2. PROFIT MOTIVE- one of the main ...