Key Difference – Marketing Strategy vs Marketing Plan The key difference between marketing strategy and marketing plan is that marketing strategy can be explained as a course of action to achieve a marketing objective whereas marketing plan is the set of actions implemented to realize the marketing strategy; i.e., how to achieve the desired […]
Difference Between Market Research and Market Intelligence
Key Difference – Market Research vs Market Intelligence Market research and market intelligence are two terms that are often used interchangeably; however, the scope and the meaning of these two are different from one another. Marketing strategy is a vital aspect for businesses to attract and retain customers, and thus, adequate market research and […]
Difference Between Product Development and Market Development
Key Difference – Product Development vs Market Development The key difference between product development and market development is that product development is a strategy that focuses on developing new products in existing markets whereas market development strategy identifies and develops new market segments for existing products. Product development and market development are two quadrants […]
Difference Between Market Penetration and Market Development
Key Difference – Market Penetration vs Market Development Market penetration and market development are two quadrants in the Ansoff’s growth matrix developed by H. Igor Ansoff in 1957, the other two being product development and diversification. Ansoff’s growth matrix demonstrates 4 ways in which a company can expand and grow. The key difference between […]
Difference Between Theory X and Theory Y
Key Difference – Theory X vs Theory Y Theory X and Theory Y were introduced in 1960 by Douglas McGregor, an American social psychologist in his book ‘The Human Side of Enterprise.’ This is one of the most famous motivational theories in management. In combination, both approaches are referred to as Theory XY. Theory […]
Difference Between Project Scope and Deliverables
Key Difference – Project Scope vs Deliverables Project management is a very critical aspect for businesses since all businesses may have to engage in projects from time to time. Both project scope and deliverables are important aspects of a project. The key difference between project scope and project deliverables is that project scope is […]
Difference Between Credit Crunch and Recession
Key Difference – Credit Crunch vs Recession Credit crunch and recession are two major aspects of macroeconomics, meaning that they affect the economy as a whole – not specifically a group of individuals or businesses. Both result in negative consequences by slowing down investor and consumer confidence. The key difference between credit crunch and […]
Difference Between Cost of New Customer and Retaining Customer
Cost of New Customer vs Retaining Customer Customer retention and acquisition are two important aspects of relationship marketing that focus on making long term relationships with customers rather than focusing on shorter term goals. The key difference between cost of new customer and retaining customer is that the cost of new customer is the […]
Difference Between PDCA and DMAIC
Key Difference – PDCA vs DMAIC The key difference between PDCA and DMAIC is that PDCA is a repetitive four stage model (Plan, Do, Check, and Act) used to achieve continuous improvement in business process management whereas DMAIC is a data-driven improvement cycle used for improving, enhancing and stabilizing business processes containing 5 stages […]
Difference Between PDCA and PDSA
Key Difference – PDCA vs PDSA PDCA and PDSA are two widely utilized improvement techniques to bring about process improvements. These methods are known as Plan-Do-Check-Act (PDCA) and Plan-Do-Study-Act (PDSA) and are well suited for many improvement projects. PDSA is a development from PDCA and the key difference between PDCA and PDSA is that […]
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