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State the term - Price
Price is the amount charged for a service or product. It's the second most important element in marketing mix. Fixing the price of product is a tricky job. Many factors like demand for a product, cost involved, consumer' s ability to pay, prices charged by competitors for similar products, government restrictions etc. have to be kept in mind when fixing the price. Actually, pricing is a very crucial decision area as it has its effect on demand for product and also on the profitability of firm.
Question: a) Explain why service personnel are a source of customer loyalty and competitive advantage. b) Discuss the customer cycle of failure in a service organization.
WHAT ARE THE CHALLENGES IN MARKETING MANAGEMENT IN SMALL SCALE RESTAURANTS AND TAKEAWAY
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