Actual Product - Food and Beverage
... form of an online journal, with new entries appearing in sequence as they are written. • DIGITAL PR - Digital PR is also a new style of pr not just an agency – IT IS INTERNET PUBLIC RELATIONS FOR FREE” ...
... form of an online journal, with new entries appearing in sequence as they are written. • DIGITAL PR - Digital PR is also a new style of pr not just an agency – IT IS INTERNET PUBLIC RELATIONS FOR FREE” ...
###The Marketing Mix - PowerPoint Presentation
... The price of a product will depend on: • The cost to make it • The amount of profit desired • Other objectives of the business • The price competitors charge • The price customers are willing to pay – Is there a high demand? – Is demand sensitive to changes in price? ...
... The price of a product will depend on: • The cost to make it • The amount of profit desired • Other objectives of the business • The price competitors charge • The price customers are willing to pay – Is there a high demand? – Is demand sensitive to changes in price? ...
File - Novi Cat Rack
... Businesses must consider all of the costs involved in making a product available for sale. ...
... Businesses must consider all of the costs involved in making a product available for sale. ...
Market Segment
... The Marketing Concept The idea that an organization should try to satisfy customers’ needs through coordinated activities that also allow it to achieve its own goals ...
... The Marketing Concept The idea that an organization should try to satisfy customers’ needs through coordinated activities that also allow it to achieve its own goals ...
Chapter 4
... States the conditions under which the product can be returned, replaced or repaired Required by federal law for products costing $15 or more Must be made available to customers before the purchase is made Often printed directly on the package ...
... States the conditions under which the product can be returned, replaced or repaired Required by federal law for products costing $15 or more Must be made available to customers before the purchase is made Often printed directly on the package ...
Market Segmentation
... • The focus is acquiring a large share of one or a few segments of niches. • Generally, there are fewer competitors. • The Internet is ideal for targeting small niche markets. • There is some risk in focusing on only one market. ...
... • The focus is acquiring a large share of one or a few segments of niches. • Generally, there are fewer competitors. • The Internet is ideal for targeting small niche markets. • There is some risk in focusing on only one market. ...
providing quality customer service
... Wants – the form the need takes and is shaped by culture, environment and individual personality E.g. Hungry person in Australia would have a burger with a coke whereas in South Pacific would eat mangoes, suckling pigs or beans. Wants basically satisfy needs. As exposure to objects increase, interes ...
... Wants – the form the need takes and is shaped by culture, environment and individual personality E.g. Hungry person in Australia would have a burger with a coke whereas in South Pacific would eat mangoes, suckling pigs or beans. Wants basically satisfy needs. As exposure to objects increase, interes ...
Market and Sell the Product
... important to consumers. Without effective marketing, consumers would have less information about products, and would have reduced access to them. The purpose of advertising is to provide information about products to consumers in order to increase demand. The most fundamental reason that advertising ...
... important to consumers. Without effective marketing, consumers would have less information about products, and would have reduced access to them. The purpose of advertising is to provide information about products to consumers in order to increase demand. The most fundamental reason that advertising ...
03-1 Promotional Mix 1_-_promotional_mix
... As always, while reading write down thoughts, questions, terms you want more information about, etc. ...
... As always, while reading write down thoughts, questions, terms you want more information about, etc. ...
The Consumer Market
... groups e.g. 18 year old females or older people, are sometimes used to measure their reactions to specific products. © Food – a fact of life 2009 ...
... groups e.g. 18 year old females or older people, are sometimes used to measure their reactions to specific products. © Food – a fact of life 2009 ...
Chapter 10 Review
... • A) if it is hard to find • B) if its supply is high • C) if it has been on the market for a long time • D) if it has many features and options ...
... • A) if it is hard to find • B) if its supply is high • C) if it has been on the market for a long time • D) if it has many features and options ...
Quiz5.Chapters.13 16
... tests suggest that the candy itself, while quite good, isn't much better than other well-known brands of chocolate. However, the company wraps its candies in expensive looking foil and places them in very attractive boxes. It promotes its products in advertisements as "the ultimate in chocolate expe ...
... tests suggest that the candy itself, while quite good, isn't much better than other well-known brands of chocolate. However, the company wraps its candies in expensive looking foil and places them in very attractive boxes. It promotes its products in advertisements as "the ultimate in chocolate expe ...
Chapter 10 Review - Campbell County Schools
... • A) easier than products to examine to see if they will meet your needs • B) consumed that the same time they are produced • C) the same no matter who provides them • D) easier than products to store •B ...
... • A) easier than products to examine to see if they will meet your needs • B) consumed that the same time they are produced • C) the same no matter who provides them • D) easier than products to store •B ...
Strategic Planning and the Strategic Marketing Process
... This is a complete analysis of the firm’s situation which assesses internal strengths and weaknesses and external threats and opportunities (SWOT) Internal analysis (controllable factors) – assess the firm itself to identify strengths and weaknesses External analysis (uncontrollable factors) – ...
... This is a complete analysis of the firm’s situation which assesses internal strengths and weaknesses and external threats and opportunities (SWOT) Internal analysis (controllable factors) – assess the firm itself to identify strengths and weaknesses External analysis (uncontrollable factors) – ...
Product Development
... see that a new product is successful. ► New product features are added – new ...
... see that a new product is successful. ► New product features are added – new ...
Regional Economic Integration
... In order to reach this goal, Coca-Cola embarked on an aggressive marketing campaign. In the battle to grow volume, Coke’s main weapon is market information. As recently as the mid 1990s the company had little knowledge of who was drinking its product and where. Trucks would line up outside bottlers ...
... In order to reach this goal, Coca-Cola embarked on an aggressive marketing campaign. In the battle to grow volume, Coke’s main weapon is market information. As recently as the mid 1990s the company had little knowledge of who was drinking its product and where. Trucks would line up outside bottlers ...
Profit Maximazization in Pure Competition
... hold 1/3 of the market --, General Mills, Post, and Quaker Foods) – The breakfast producers know their actions influence market prices ...
... hold 1/3 of the market --, General Mills, Post, and Quaker Foods) – The breakfast producers know their actions influence market prices ...
PDF
... own price elasticity increases as the length of adjustment increases and suggested that generally "the demand for Florida celery would have been estimated to be elastic at observed prices and quantities if quarterly or annual observations had been used." An additional criticism of Shonkwiler and Pag ...
... own price elasticity increases as the length of adjustment increases and suggested that generally "the demand for Florida celery would have been estimated to be elastic at observed prices and quantities if quarterly or annual observations had been used." An additional criticism of Shonkwiler and Pag ...
Service parts pricing
Service Parts Pricing refers to the aspect of Service Lifecycle Management that deals with setting prices for service parts in the after-sales market. Like other streams of Pricing, Service Parts Pricing is a scientific pursuit aimed at aligning service part prices internally to be logical and consistent, and at the same time aligning them externally with the market. This is done with the overarching aim of extracting the maximum possible price from service parts and thus maximize the profit margins. Pricing analysts have to be cognizant of possible repercussions of pricing their parts too high or too low in the after-sales market; they constantly have to strive to get the prices just right towards achieving maximum margins and maximum possible volumes.The after-sales market consists of service part and after-sales service. These areas often account for a low share in total sales, but for a relatively high share in total profits. It is important to understand that the after-sales supply chain is very different from the manufacturing supply chain, and hence rules that apply to pricing manufacturing parts do not hold good for pricing service parts. Service Parts Pricing requires a different outlook and approach.Service networks deal with a considerably higher number of SKUs and a heterogeneous product portfolio, are more complex, have a sporadic nature of demand AND have minimal response times and strict SLAs. Companies have traditionally been content with outsourcing the after-sales side of their business and have encouraged third-party parts and service providers in the market. The result has been a bevy of these operators in the market with strict price competition and low margins.Increasingly, however, companies are realizing the importance of the after-sales market and its impact on customer retention and loyalty. Increasingly, also, companies have realized that they can extract higher profit margins from the after-sales services market due to the intangible nature of services. Companies are investing in their after-sales service networks to deliver high levels of customer service and in return command higher prices for their parts and services. Customers are being sold the concept of total cost of ownership (TCO) and are being made to realize that buying from OEMs comes packaged with better distribution channels, shorter response times, better knowledge on products, and ultimately higher product uptime.The challenge for companies is to provide reliable service levels in an environment of uncertainty. Unlike factories, businesses can’t produce services in advance of demand. They can manufacture them only when an unpredictable event, such as a product failure, triggers a need. The challenge for Service Parts Pricing is to put a value to this customer need. Parts that are critical, for example, can command higher prices. So can parts that only the OEM provides in the market. Parts that are readily available in the market cannot, and must not, be priced to high. Another problem with after-sales market is that demand cannot be stimulated with price discounts, customers do not stock up service parts just because they are on discount. On the up-side, the fact that most service parts are inelastic means pricing analysts can raise prices without the adverse effects that manufacturing or retail networks witness.These and other characteristics of the after-sales market give Service Parts Pricing a life of its own. Companies are realizing that they can use the lever of service part pricing to increase profitability and don't have to take prices as market determined. Understanding customer needs and expectations, along with the company's internal strengths and weaknesses, goes a long way in designing an effective service part pricing strategy.