Pricing Strategies
A business can use a variety of pricing strategies when selling a product or service. The price can be set to maximize profitability for each unit sold or from the […]
Pricing Methods
The different pricing methods are discussed below; 1. Cost-based Pricing Cost-based pricing refers to a pricing method in which some percentage of desired profit margins is added to the cost […]
Pricing objectives and Determinants
PRICING OBJECTIVES 1. Profits-related Objectives: Profit has remained a dominant objective of business activities. Company’s pricing policies and strategies are aimed at following profits-related objectives: i. Maximum Current Profit: One […]
New Product Development Strategies
New Product development is a journey. It’s the road which leads to the actual product and then the actual product to the market. As it is said, it all starts […]
Branding and Branding strategies
A brand is the idea or image of a specific product or service that consumers connect with, by identifying the name, logo, slogan, or design of the company who owns […]
Packaging
Whether you’re getting ready to create packaging for a product you’re selling or you’re considering changing the packaging of an existing product, you may be wondering if the appearance of […]
Product Life cycle Concept & Strategies
The Product Life Cycle contains five distinct stages. For the four stages introduction, growth, maturity and decline, we can identify specific product life cycle strategies. These are based on the characteristics […]
Product Line Decisions
Production-Mix Decisions: An organization is required to bring changes in product mix to make it adaptable according to the needs of consumer. Product mix decisions refer to addition, deletion or […]
Product Mix
The complete range of products present within a company is known as the product mix. In any multi brand organizations, there are numerous products present. None of the organizations wants […]
Product Differentiation
Product differentiation is a marketing strategy that strives to distinguish a company’s products or services from the competition. Successful product differentiation involves identifying and communicating the unique qualities of a […]
Product Levels
Need: a lack of a basic requirement. Want: a specific requirement of products to satisfy a need. Demand: a set of wants plus the desire and ability to pay for […]
M/U2 Topic 2 Product Classifications
Classifying products into meaningful categories helps marketers decide which strategies and methods will help promote a business’s product or service. Many types of classification exist. For example, marketers might categorize […]
M/U2 Topic 1 Product Concept
Product Concept states that customers or consumers prefer product which is of the highest quality, performance and features. Product concept is a mandatory concept in order to give the best […]
M/U1 Topic 10 Overview of competitive strategies
Competitive Strategy is defined as the long term plan of a particular company in order to gain competitive advantage over its competitors in the industry. It is aimed at creating defensive […]
Market segmentation, Targeting and Positioning
Market segmentation is a process of dividing the entire market population into multiple meaningful segments based on marketing variables like demographics (age, gender etc), geographic, psychographics (lifestyle, behaviour) etc. Segmentation […]
M/U1 Topic 8 Demand Forecasting
Demand forecasting and estimation gives businesses valuable information about the markets in which they operate and the markets they plan to pursue. Forecasting and estimation are interchangeable terms that basically […]
