The key difference between market segmentation and target market is that the market segmentation refers to the identification of specific consumer groups for the product, whereas the target market refers to the potential customers for the particular product or service. Both market segmentation and target market are very important steps in the marketing process. Although they […]
Difference Between Psychographic and Behavioral Segmentation
The key difference between psychographic and behavioral segmentation is that psychographic segmentation focuses on customer’s personality trait, values and attitudes, whereas behavioral segmentation focuses on activities of the customer. Market segmentation is one of the key aspects of the marketing strategy. To define the target audience, marketers conduct market segmentation. Demographic, psychographic, behavioral and geographic […]
Difference Between Internal and External Business Environment
The key difference between internal and external business environment is that internal environment is specific and has a direct impact on the business, whereas external environment has an impact on all business groups, not just one particular business. Analysis of internal and external environment is very important for the success of a business. Moreover, the […]
Difference Between Formal and Informal Organization
The key difference between formal and informal organization is that formal organizations are formed to achieve a common goal with official relationships between members, whereas informal organizations are formed within formal organizations based on interpersonal relationships between members of the organization. Both formal and informal organization concepts are inter-related. It is because there are many […]
Difference Between Value Proposition and Marketing Offer
The key difference between value proposition and marketing offer is that value proposition considers the facts why customers must buy the product or service, whereas marketing offer considers a free product or service for the value exchange with the customer to promote their product or service. Both value propositions and marketing offers are important concepts […]
Difference Between Fayol and Taylor Principles of Management
The key difference between Fayol and Taylor principles of management is that Taylor principles of management are concerned with evaluating the performance of employees and getting the work done most efficiently, whereas Fayol principles of management are concerned with managing problems in top management point of view. In a positive working environment, it is the […]
Difference Between Scientific Management and Administrative Management
The key difference between scientific management and administrative management is that in scientific management, an organization’s effectiveness and efficiency are achieved by modifying the way in which workers conduct their tasks while administrative management theory describes altering the way that the organization is managed. In a positive working environment, it is the manager’s responsibility to […]
Difference Between System Theory and Contingency Theory
The key difference between system theory and contingency theory is that system theory focuses on the internal dynamics of an organization’s structure and behaviour whereas contingency theory focuses on the external factors of the organization’s behaviour and structure. Both theories are considered as recent developments in management theories. Also, it is important to note that […]
Difference Between Organizational Learning and Learning Organization
The key difference between organizational learning and learning organization is that organizational learning focuses on learning by experience and knowledge gathered from day to day activities whereas Learning Organization focuses on learnings to enhance competencies and capabilities of employees. Also, we can consider organizational learning as a process, and learning organization as a structure. Organizations […]
Difference Between Classical and Neo Classical Theory
The key difference between classical and neo classical theory is that the classical theory assumes that a worker’s satisfaction is based only on physical and economic needs, whereas the neoclassical theory considers not only physical and economic needs, but also the job satisfaction, and other social needs. The classical theory came into public in the […]
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