Agency relationship

This allows a person to do what he would not have ordinarily been empowered to do physically or personally, through another person and he would be held liable for all the activities of that person. Agency is a situation where a person appoints another person or group of persons to represent his legal interest (capacity) to a third party. It is where an appointment is made or authority is given by a man known as principal to another person known as the agent to bring in a relationship with a third party.
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What is Retailing? 

Retailing can be defined as the distributive activity that makes goods and services available to the final consumers. This means that it directs the flow of goods and services from the producers to the final users. Who then is a retailer? A retailer is an independent merchant middleman who serves as consumers purchasing agents. Generally, retailers are title takers. The success of any retail store or business depends on two main factors which are:
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Hello people, the question for today goes thus: Modification is a feature of international marketing because of the environmental differences that exist among and within the many nations. Discuss.

Read along as I provide some answers to it. If you have any other suggestion, kindly leave a comment. Thanks.

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Multinational Corporations

Hi people, today we would be looking to answer two questions in relation to international marketing. The questions are:

1) What do you understand by Multinational Corporations?

2) What are the effects of Multinational Corporations on a host country.

A multinational company (MNC) is one that owns production, distribution and other units in foreign countries and plans the utilization of its resources on a global scale. It invests internationally in the acquisition of raw materials and subsidiaries supplying input components and selling through its permanent establishment abroad. International businesses have a home nation and do business in foreign countries. MNCs conversely are not reliant on a single home base. They need not be large corporations; rather they are firms of any size that recognize the benefits of operating on the global level.
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Principles of Selling

Before we begin with the principles of selling, let us take a brief look at Marketing concept. Phillip Cotler sees marketing concept as the management orientation which states that the key task of an organization is to determine the needs, wants and value of its target market and to organize the company towards delivering the desired satisfaction in an efficient and effective manner than its competitors.
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Definition of a product

According to Kotler and Armstrong (2001), a product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need. It includes physical objects, services, persons, places organizations and ideas.

In developing a product, the product planner needs to think about the product on three levels

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Pensioners opting for annuity in place of programmed withdrawals; the truth about annuity they do not know.

At our pension fund, we receive quite a copious amount of applications for annuity each day. Although this is detrimental to the business, we have no choice but to grant the retirees’ request because they have a right to choose either a programmed withdrawal (ie monthly payment of pension benefits until around 30 years) or an annuity (monthly payment, but usually way higher than the programmed withdrawal). [Read more…] about Programmed Withdrawal vs Life Annuity