The importance of pricing cannot be underestimated as incorrect pricing can often result in the failure of a business. New businesses often make the mistake of either charging too little or too much for their product pr service. To...
Research provides the information to meet the needs of your customers and determine your company’s:
target market,
proper location,
sales projections,
product or service line,
pricing strategy,
advertising placements,
credit policy,
required working capital,
appropriate retail and warehouse space,
stocked inventory,
required equipment and supplies, and
employee complement
This is an OCR edition without illustrations or index. It may have numerous typos or missing text. However, purchasers can download a free scanned copy of the original rare book from GeneralBooksClub.com. You can also preview excerpts from the...
Once you have determined your market segment(s), you must determine how you will position you products and services to make your customers aware of your offerings.
Positioning refers to how your potential customer views your product or service, often described...
Price is a very important factor in the marketing mix. It affects sales volume, profits, the actions of competitors, and the image of the product/service or store. Proper pricing is a prerequisite of success.
Pricing has two basic functions:
(1) to...
Similar to people, products and services have life cycles. They move from birth, through a period of growth, to maturity, and then level off somewhat before declining toward their demise. The decision on whether or not to produce or...
The packaging of products has grown in importance over the past decade. Packaging is part of the actual product. Besides being able to differentiate your products from your competitors by using different types of packaging, it is important to...
There are differing classification schemes that companies may use to help develop a product strategy. Non-durable goods are goods normally consumed fairly quickly such as soap, toothpaste and juice. Durable goods normally survive many uses, such as clothing, automobiles...
Looking to the customer for guidance is particularly important when deciding upon the specific product/service to be provided. The product or service offered by the company must be one that meets the needs of the customers, not one that...
There are four important components of marketing. They are called the 4 Ps – product, price, place and promotion.
Marketing decisions are centered on these variables, which are known as the marketing mix. Poor decisions regarding even one of the...
