KALYAN CITY BLOG

Assumptions of Law of Demand Law of Demand can operate and remain valid only if certain things like income, population size, climate, consumer's tastes and expectations, etc., are assumed to remain constant or equal. In other words, there is a need for an assumption or a consideration that these things do not change at all under any circumstances. The six basic assumptions of law of demand are as follows: Image Credits © Gaurav Akrani. No change in the income. No change in size and composition of the population. No change in prices of related goods. No change in consumer's taste, preference, etc. No expectation of a price change in future. No change in the climatic conditions. Now let's discuss each assumption of the law of demand one by one. 1. No change in the income The first assumption regarding the law of demand to operate is that the income of the consumer must remain same or should not change (i.e. neither rise nor fall). Income is assumed to remain consta

Principles of Good Layout The twelve features, qualities, or principles of good layout are as follows: Image Credits © Manoj Patil. Focus on dominant element. Unity of all ad parts. Good use of contrast. Right balance of elements. Maintain proportion of space. Follow the eye movement. Simple and uncomplicated layout. Ease of readability. Use of whitespace. Clarity of ad message. Good ad atmosphere. First impression. Now let's discuss each quality, feature or principle of a good layout. 1. Focus on dominant element Good layouts have a starting point. It is called dominant element. This element is the most important part of the advertisement . It may be the headline, the illustration, the body copy, etc. The copywriter has to decide which part is the dominant part. Normally, there is only one dominant element in the ad. The dominant element must be large. It must have a bright colour. It must look better than the other parts of the ad. The consumer must get attracted

Principle of Division of Work In context of this article, let's revise the meaning of following words: Division of something (e.g. an object, a process, work, etc.) means to divide, chop or break it up into smaller parts to facilitate a better understanding, easier handling and operation, and focused observation on a fixed set of goals. It is a way to separate things apart based on some established criteria like quality, quantity, nature of work, so on. It untangles, simplifies, and narrows down various complexities that were involved prior separation. It helps to ease and enhance the efficiency of managing a giant complex task through smaller chunks that are easy to handle. Work is any assigned job, task, duty, goal or an objective one is supposed to accomplish (achieve) before the deadline (on-time) and as expected at the expense of one's mental and physical labour to earn the desired reward (usually monetary but not always) in return. With this understanding, let's gr

Marketing Research plays a significant role in helping Government to perform some of its crucial regulatory functions. It provides an up-to-date market -related data to the government and helps it to monitor, plan, coordinate and regulate the entire economy of its area of jurisdiction. The government studies information provided by MR and uses it to understand the market forces, formulating policies, fixing critical priorities, allocating resources, providing social welfare benefits, regulating a market, stabilising an economy, so on. Importance of marketing research to government is as follows: Image credits © Gaurav Akrani. Decide and provide different social services. Plan a systematic allocation of limited resources. Regulate the market and stabilise the economy. Estimate Cost–Benefit Analysis of government-run programmes. Know money and capital market for drafting a better fiscal policy . Now let's discuss each of the above-listed points highlighting principal benefits