An audit is an independent examination of financial information of any entity, whether profit-oriented or not, and irrespective of its size or legal form, when such an examination is conducted with a view to expressing an opinion thereon.
The Boston Consulting Group (BCG) Matrix is a simple corporate planning tool, to assess a company’s position in terms of its product range. The Boston Consulting Group (BCG) Matrix is a portfolio management tool created in 1970 by Bruce Henderson. It is also referred to as the BCG growth-share matrix.
Brand equity is the value of the brand in the marketplace. We can say, the total accumulated value or worth of a brand. Financial accountants define brand equity as the total value of a brand as a separable asset and often called brand valuation or brand value.
Brand Management is the function of marketing techniques to a specific product, product line, or brand. It seeks to increase the product’s perceived value to the customer and thereby increase brand franchise and brand equity. The process of maintaining, improving, and upholding a brand so that the name is associated with positive results.
New product development process plays a crucial role in deciding the future of the organisation. Every product has a life of its own and it becomes obsolete after a certain period of time. It is essential to develop new products or alter or improve the existing ones to meet the oft-changing customer needs.
Demand forecasting is an attempt to estimate the future level of demand on the basis of past as well as present knowledge and experience, to avoid both under production and overproduction. Without forecasting, forward planning will be directionless and meaningless.