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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.
Demonstrate your understanding of the principles of marketing by illustrating the motivation behind energy drink consumers.
Process of the positioning: Step 1: competitor's identification: this step requires broad thinking. Competitors may not be just those, whose products and or brands fall into
what is test marketing? explain the various approaches that are followed by fmcg companies in test marketing?
Define the storage in marketing functions of physical treatment. Storage: Goods are usually produced into anticipation of the demand. All they are stored into warehouses u
Role of the salesman: 1. Diagnostic: this involves a salesman probing and finding the cause of a problem. Like an expert doctor, a salesman diagnoses the needs of his
What is Line Modernization in Product Line? Line Modernization: Even though the product line length is enough the line might require to be modernized. The matter is wheth
State the Size and Geographic Dispersionof target audience Final characteristic concerns the size and geographic dispersion of target audience. A consumer audience, often nati
Simple Marketing System Producer/ seller Communication Consumer Money Product/ service Feedback Participants in a simple marketing system:
What is Idea Generation Strategy Development? Idea Generation: Even though some companies get their concepts almost by change. Firms which are trying to control their product m
Question 1: Teamwork as a concept has grown over the last 20 years, especially in the service industry. Thus, teamwork success is not automatic. Teams have to be established fo
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