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Determine the Cost Based Pricing
Under this method, price of product is fixed by adding the amount of desired profit margin to the cost of product. If a specific soap costs the marketer 8 $ and he desires a profit of 25%, the price of the soap is fixed at 8$ + (8x25/100) = 10$. While calculating the price in this way, all costs (variable as well as fixed) incurred in manufacturing product are taken into consideration.
David Ricardo''s theory of comparative advantage is an improvement over Adam Smith''s theory of absolute advantage.
Question 1: Critically examine the importance of product design, New Product Development (NPD) and explain the reasons for failures in NPD and how would you overcome them?
Factors influencing changes in product mix 1. Change in market demand: the change in the demand of a product (due to change in habits, fashion, purchasing power, in
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Sample work
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What is Line Featuring in Product Line? Line Featuring: In case of durable products marketers at the times choose one or several items to “feature” the concept is to attr
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