In this post, we look at the Lawson Model for Decision Process of Buyer. Business is responsible for selling the goods in the market so must have the knowledge of how the buyer actually makes their decision. It involves 5 stages: Need Recognition: Business must recognize the needs of the consumer as well as how […]
Category: Business
This post tells the difference between cross-selling and up-selling. Cross-selling identifies products that satisfy additional complementary needs that are unfulfilled by the original item. It points users to products they would have purchased anyway by sharing them at the right time to ensure a sale. For example, Comb sale to a customer buying a blow […]
Data is often reduced to what can fit into a mathematical model. Yet, taken out of context, data may lose its meaning. Ethics, privacy, and data protection issues are often an afterthought or regulatory hurdle to be jumped through. Ethical Issues include: Non-objective analysis Incomplete Reporting Misleading Reporting Lack of Consideration Moral agency is the […]
Recent economic recession and Brexit has raised doubts about the EU membership among member nations. This paper analyzes the public data from World Bank to determine the impact to the economic development of Ireland since joining the EU on 1st January 1973. The paper shows that EU membership has a positive relationship with the development […]
Recently, Facebook is in news almost daily for its inability to prevent Cambridge Analytica(CA) from gathering personal data from 87 million users. CA used the harvested data to profile users to predict voting patterns in 2016 US presidential elections. Some of the important dates for the event are: March 16, 2018: The news broke of […]
Throughout history, the technological advances have raised fears that traditional jobs will become obsolete. In this post, I find out the jobs which are most susceptible to automation. Elon Musk told the National Governors Association: “There certainly will be job disruption. Because what’s going to happen is robots will be able to do everything better […]
Among the contributions of Joseph Schumpeter to economics was an understanding of long economic cycles, and how these are initiated by “clusters” of innovations (Schumpeter, 1939). Historically, there has been a remarkable coincidence between such clusters and legal changes which improve the protection of information. The institutional change that could stimulate the next long technological […]
Small and Medium-sized Enterprises that are EU-based or established in a country associated to Horizon 2020 SME Instrument can get EU funding and support for innovation projects that will help them grow and expand their activities into other countries in Europe and beyond. It offers support under the section Societal Challenges and the specific part Leadership in Enabling and […]