Product and Service:
Production of commodities for the humanity is the prime thing. To maintain them in good condition, we need service oriented businesses. Both production and service stand as chief business activities by importance and size also.

Concept:
The third order business is concept based. This is low by volume and significance, as this does not meet the immediate need of the customers. Let us go into some details and examples to understand them in a better way.

Concept is Plan:
Here, we wish to work on a plan emanated by some pioneer business designer and accepted by the beneficiary. The plan tries to attract the customers by smallness and easiness of the investments. The concept tells about the futuristic returns in a big and convenient manner.

Pay Less Get More From God:
It is like this. We go to temple, church or mosque as the case may be. We worship the god and offer a contribution.

Do not mistake me. Tell me honestly. You have offered a contribution to a least level; say a one-rupee coin or a fraction of a dollar. However, you are asking for a return not equal to that. Your prayer goes to higher requirements of health, wealth and happiness. You want to invest less and harvest more. The ?concept business? has similar foundation. See examples below.

Saving Schemes:
Bank fixed deposits assure return of money with accrued interest after a period. The annual interest accrued also reinvested and gains interest and so the gets doubled in about 5 years to 7 years tenure.

Recurring Deposits:
You can deposit small investments every month in recurring deposit account and get a very good sum after about 5 or 10 years period. In case of emergency, you can get loans also against the same accrued money. You repay it at your own convenience with least interest rate.

Chits More Dividends:
A chit fund helps you to save money in the similar manner as recurring deposits. The benefit is that you can take a big amount also by bidding right from the second month. The profit gained through the bidding also shared to all the subscribers. You will repay the dues in installments after deducting the profit share. Hence, you are at benefit to get the amount in good volume for your personal or business purposes and repay it easily.

Life Insurance:
You are paying the lowest premiums with an aim to complete the saving program. However, a sad event prevents and threatens the life of the youngsters in the family. Here comes the concept of insurance. The life insurance company assures a good return in case of any eventuality and save the members of the family.

Teak Tree plantation:
You are required to pay a small sum of Rupees 1800 or say 35 dollars to a company. The company enrolls you as a shareholder and plants a teak tree sapling in your name.

It takes care and maintains with all latest agricultural techniques for a 20 years period. The sapling grows well into a large teak tree. It is worth at least Rupees 75000 or 1500 dollars. The company will sell it for you and pay a bigger sum of money to complete the scheme.

Time Share Resorts:
You will purchase a time-share resort for Rupees 30,000 or 600 dollars. You and your off springs can enjoy staying in the resort a week time every year for 99 years. You can rent the time-share portion also to others for a profit and get money every year forgoing your stay.

Goats Supply your grocery needs:
A company says that you need to buy a share by paying one time payment of Rupees 50000 or 1000 dollars only. Every month you will get milk, rice, cooking oil and selected groceries of standard volume for your family for the lifetime. This is from the income generated from goat rearing scheme.

Raise Money To Invest:
These are all concept businesses. A concept is for initial funds mobilization and reinvestment in a lucrative business of the company?s choice. The reinvested money in real estates, apartments, cinema theatres, marriage halls etc. will bring more income. The company will repay to the investor in cash or kinds as assured in the program.

Plan a good plan:
In ?Concept Business?, plan itself is going to run the business. Get a small sum as investment; reinvest it in a suitable proposition. Pay back a huge sum after some years. Pass the benefit to the shareholders.

Basic Business Concept:
However, every business has a basic model that guides the entrepreneur. The shopkeeper, the proprietor, partners or the management of a company has a business concept. They run the business with or without knowing the basic concept. They run the business based on the mold of a similar concern.
However, each business enterprise has a business idea:

1. The department stores have an idea of supplying all ?under one roof?.
2. The hotel has the idea of supplying ?good and healthy food? to the people.
3. The real estate promoter wants to give the customer all the basic amenities for the plots.
4. The hospital assures to give best treatment to the patients to make them healthy and happy.
5. The colleges guarantee best teaching facilities and good coaching for the students so that they get the right kind of job placements.

Therefore, we understand that business denotes product, service and concept. We develop products or do services based on a concept to reach the people for a mutual benefit. Here comes the distribution part of the business.

So, the next business secret is ?Distribution?

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