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Marketing Is All Around Us
Marketing Is All Around Us

... value and increase demand. When demand is high, manufacturers can produce at a lower price. They can sell at a lower price but increase the quantity sold. Thus, profits are higher even though prices are low. ...
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... market. These actors are speculators, who profit from information they have about future prices. Well-informed speculators can predict future prices better than other traders in the market. Speculators choose to buy or sell based on which side they expect will be profitable. Speculators are very imp ...
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... Product mix is the particular assortment of goods and services that a business offers to meet the needs of its market(s) and to achieve its goals. Often, the target market's needs and wants change, so the business must be willing to change its product mix, so it can remain competitive in the marketp ...
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...  Consumer market: all potential customers who will buy the product for personal use.  Industrial market: all potential customers who will buy the product for business use. How do marketers find out who their customers are? The key to marketing and selling goods/services is to know who your custome ...
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... responsive are consumers to an increase or decrease of price?” That responsiveness is ELASTICITY. ...
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... Market penetration; is the idea to make more sales to present customers without changing the products. To increase sales, the company can cut prices, increase advertising or use more distributors. Market development; is the idea of identifying and developing new markets for its current products. To ...
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Marketing Is All Around Us

... value and increase demand. When demand is high, manufacturers can produce at a lower price. They can sell at a lower price but increase the quantity sold. Thus, profits are higher even though prices are low. ...
Marketing strategies - Cambridge University Press
Marketing strategies - Cambridge University Press

... that a business has a clear understanding of which group of people is likely to buy its products; that is, who its target market will be. Once this has been established, the organisation will develop appropriate promotional and pricing strategies that cater to the needs of this target group. The bus ...
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... The marketing concept calls for marketers to develop a market offering that is capable of satisfying customer needs, demands AND PREFERENCES. In an ideal situation, marketers are expected to provide a customized product, a separate price and unique promotion and an exclusive place for every potentia ...
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Understanding the World of Marketing

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Standard 2: Promotion

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Promotion PowerPoint

... ◦ Buying Allowances – a price discount given by manufactures to retailers to encourage them to buy more. ◦ Trade shows & Conventions – designed to reach wholesalers and retailers to display new products and/or increase sale of previous products. ...
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... advertised can be significantly differentiated from its competitors, the product or service has hidden qualities or benefits that can be communicated through advertising, there are strong emotional buying motives involved, such as for health, beauty, or safety)  Marketing Web Sites and IMC ...
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... "anti-competitive" business practices, such as coercive monopoly. Coercive Monopoly: business concern that prohibits competitors from entering the field, with the natural result being that the firm is able to make pricing and production decisions independent of competitive forces. ...
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Price busters - London Business School

... stringent set of conditions. Others take the offensive by launching low-cost businesses of their own. This so-called dual strategy succeeds only if companies can generate synergies between the existing businesses and the new ventures. If they cannot, companies are better off trying to transform them ...
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... debt at the end of each year and no repayments need to be made until after graduation. After graduation the loan reverts to a standard repayment loan over 5 years with equal end of year instalments with interest charged at the ...
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... Marketing allows organizations to operate effectively by meeting the needs of their customers. Marketing also allows organizations to use its resources efficiently to meet its long- and short-term objectives. What conditions must exist for an exchange to occur? Voluntary participation by all parties ...
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overview of marketing

...  Marketing was once only an afterthought to product  However, marketing not only has shifted its focus dramatically, it also has evolved into a major business function that crosses all areas of a firm or organisation  Advises production about how much the company’s product to make and then tell l ...
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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 market overall. It can be used to defend an existing market from new entrants, to increase market share within a market or to enter a new market. Businesses may benefit from lowering or raising prices, depending on the needs and behaviors of customers and clients in the particular market. Finding the right pricing strategy is an important element in running a successful business.
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