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Business

Lawson Model for Decision Process of Buyer

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 […]

Categories
Business Innovation

Steps to improve Indigenous Innovation in Ireland

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 […]

Categories
Business E-Business

Difference between Disintermediation, Re-intermediation and Counter mediation

This post details difference between disintermediation, re-intermediation and counter mediation. The short summary helps to provide a clear understanding. Disintermediation means to remove intermediation from the supply chain. With the advent of internet based shopping in the 1990’s the term became the buzzword signifying the elimination of middlemen as a result of direct to consumer […]