Definition: SWOT Analysis is a strategic planning technique used to help an organization identify and analyze its competitive position. SWOT stands for strengths, weaknesses, opportunities, and threats. This analysis helps organizations find their strength and weakness and identify external threats and opportunities based on the results. SWOT Analysis This technique is used in the initial …
McClelland’s theory of needs was developed in the 1960s by American psychologist David McClelland. He said that each human, regardless of race, age, gender, or culture, is affected by at least one of three driving motivators: achievement, power, or affiliation. He also mentioned that an individual develops these motivators over time through life experiences and …
Consumers may not realize how businesses strategically analyze their buying behavior and influence them at every stage, right from knowing the brand until they buy the product or service. Businesses use the AIDA model to achieve the above objectives. Definition: The AIDA model stands for Attention/Awareness, Interest, Desire, and Action. This model breaks down the …
Definition: The red ocean strategy helps businesses survive in a competitive market where organizations prefer aggressive growth in the existing market instead of entering into new markets. The red ocean strategy uncovers the level of competition, risks, and profit-making opportunities. A red ocean market is characterized by stiff competition. This article will discuss the red …