Most people are aware of Price Elasticity of Demand, even if they don’t know the term. The logic is simple, if you raise the price of your product I won’t buy your product. This is however not the case with some special kinds of products. I will classify these products whose consumption increase in case of price hike into three categories. Continue reading “Negative Elasticity of Money”
Mr. Johnny Earle’s lecture series will tell the story of just exactly how he turned a simple idea into a multi-million dollar business using nontraditional methods. Check this out. Continue reading “Johnny Earle talks about how ideas change lives”
Nobel Prize-winning economist Joseph Stiglitz (“Globalization and Its Discontents”) talks about why GDP is not always suitable for use as a measurement for economic well being. Joseph Stiglitz was chief economist at the World Bank until January 2000. Before that he was the chairman of President Clinton’s Council of Economic Advisers. He was awarded the Nobel Prize in economics in 2001. Continue reading “Joseph Stiglitz speaks on the problems with GDP as an Economic Barometer”
During economic turbulence, it is important for a company to view it as both an opportunity and a danger. Sometimes it is a bad idea to cut costs across the board. Marketing prodigy Kotler advices to stop cutting the budget that creates sales and gives tips on how to measure the marketing spend with non-direct marketing. So what should companies do during a financial meltdown? Continue reading “Philip Kotler on marketing in times of economic downturn”
The economic slump of 2009 has seen many companies struggling for survival. While some made it, others didn’t. This article provides some insights on what caused such a difference of performance, and provides simple guideline to battle economic uncertainty, especially for the manufacturing industries.
The economic slump of 2009 has seen many companies struggling for survival. While some made it, others didn’t. This article provides some insights on what caused such a difference of performance, and provides simple guidelines to battle the economic uncertainty and financial crisis, especially for the manufacturing industries. Continue reading “Riding the uncertainty wave – 5 Mantras for Success”