After reading this article you will learn about:- 1. Meaning of Sampling Inspection 2. Advantages of Sampling Inspection 3. Classification. Meaning of Sampling Inspection: Sampling inspection is a technique to determine whether a lot or population should be rejected or accepted on the basis of the number of defective parts found in a random sample drawn from the lot. If [...]
After reading this article you will learn about systems concept and value analysis. Systems Concept: The society and the industry is more complex today than it was ever before. More and more persons are acquiring higher education and technical skills, newer materials and information’s are being rigged up and under such situations, rules of thumb cannot be highly relied upon. [...]
This article throws light upon the top four factors influencing promotional mix. The factors are: 1. Product Related Factors 2. Consumer Related Factors 3. Firm Related Factors 4. Situation Related Factors. Factor # 1. Product Related Factors: Three product related factors affect the promotion mix as: (a) Amount and complexity of product information (b) Product's stage in the life cycle [...]