Topics in CommercePrinciple of Marketing: Positioning as a Marketing Mix Principle of Marketing: Packaging as a Marketing Mix Elements of Promotion in Marketing Mix Principle of Marketing: Promotion as a Marketing Mix Principle of Marketing: Place as a Marketing Mix Principle of Marketing: Price as a Marketing Mix Principles of Marketing: The 7 Ps of Marketing Mix Factors necessary for Division of Labour Disadvantages of Division of Labour Advantages of Division of Labour Outbound Marketing explained Inbound Marketing explained Production - Types of Production Commerce: Definitions and Scopes of Commerce Differences between Balance of Trade and Balance of Payments Balance of Payment Deficit and Balance of Payment Surplus Disadvantages of Foreign Trade Divisions of Foreign Trade Advantages of Foreign Trade What is Foreign Trade? Types of Foreign Trade
Academic Questions in Commerce
The followings are principles of marketing mix except _____.
C. Pressure group
The followings are advantages of division of labour EXCEPT _____.
Which of the following statement is incorrect concerning division of labour?
What does a bearer cheque mean?
What is an order cheque?
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Commerce is one of the branches of business and it encomprises all activities that has to do with buying and sellling.
Commerce may be defined as all activities concerned with the exchange of goods and services, especially on a large scale.
As a branch of production, commerce is involved with the distribution, marketing and exchange of goods and services. It also involve any other activity that promotes buying and selling.
Note: Commerce may also be defined as the study of all activities involved with trade, buying, selling and exchange of goods and services; including any other activity that will indirectly or directly facilitate such exchange.
For commerce to function properly within and outside a country, the economic, legal, social, technological and political policies must be well defined.
Scope of Commerce refers to the areas covered by commerce. It's the same as the Branches or Divisions of commerce
Commerce covers a very wide area which goes beyond activities related to buying and selling of goods and services. It includes the entire study of trade, aids to trade with other related activities.
Below are the Scopes or Branches or Divisions of Commerce:
Banking and Finance
Please read on Bookkeeping versus Accounting here.
Please read on Marketing here.
Please read more on Advertising here.
Note: if you are a commercial student at the secondary level and wish to further your study on any of the scopes of commerce (aforementioned above), then you will need to take the subject Commerce very seriously.
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Amazing facts in Commerce
Amazon is an e-commerce website launched in 1995. It did not make any profit for its first seven years.
Amazon's first profit was in 2003. Its founder 'Jeff Bezos' is the richest man in the world as at 2018/2019
NOTABLE POINTS IN Commerce
Commerce can be defined as the exchange of goods and services, usually for money and on a large scale that will require the transportation of such goods and services.
Commerce is crucial (important) to the life of any Nation for the following reasons:
A public company is not owned by an individual; rather it's usually owned by groups or a large number of people.
The shares of a public company are traded freely on the stock exchange.
Below are some features of a public company:
There are seven elements of the marketing mix. These are:
Think of marketing mix as the set of marketing tools that an industry or company uses to drive or accomplish its marketing objectives in the target market