Chapter 1
... b. you have adequate time to identify and analyze several choices c. groups rather than individuals are making a choice d. you don’t have enough money to pay for any of the choices 3. John has two hours before having to go to his part-time job. He is deciding between studying for a math exam and tak ...
... b. you have adequate time to identify and analyze several choices c. groups rather than individuals are making a choice d. you don’t have enough money to pay for any of the choices 3. John has two hours before having to go to his part-time job. He is deciding between studying for a math exam and tak ...
sch1sec3fundamentalsofmarketing2
... • Market – all potential customers who have the ability and willingness to buy ...
... • Market – all potential customers who have the ability and willingness to buy ...
large number of firms
... production costs low. • Firms must use all inputs—land, labor, organizational skills, machinery and equipment—to their best advantage. • Prices that consumers pay and the revenue that suppliers receive accurately reflect how much the market values the inputs used to produce the product. • In a purel ...
... production costs low. • Firms must use all inputs—land, labor, organizational skills, machinery and equipment—to their best advantage. • Prices that consumers pay and the revenue that suppliers receive accurately reflect how much the market values the inputs used to produce the product. • In a purel ...
File
... “If a product is made, somebody will want to buy it” Demand exceeds supply To make profits, product just needs to be readily available and of right quality Implications ...
... “If a product is made, somebody will want to buy it” Demand exceeds supply To make profits, product just needs to be readily available and of right quality Implications ...
Defining Marketing
... and monitor merchandise all the way from the manufacturer to the retail outlet to the customer. ...
... and monitor merchandise all the way from the manufacturer to the retail outlet to the customer. ...
Positioning Market mapping. - Business Economics and ICT
... usually have unique features such as how they look, taste or what they can do. There are two types of differentiation: Actual differentiation: product genuinely advantages in the consumer in some way e.g. unique taste, function, design or superior performance (such as a new Dyson Vac with Cyclone te ...
... usually have unique features such as how they look, taste or what they can do. There are two types of differentiation: Actual differentiation: product genuinely advantages in the consumer in some way e.g. unique taste, function, design or superior performance (such as a new Dyson Vac with Cyclone te ...
The New Agriculture: Implications for Marketing Strategy
... product characteristics, in worldwide production and consumption, in technology, in size of operation, in geographic location. And the pace of change seems to be increasing. Production is changing from an industry dominated by family-based, small-scale, relatively independent firms to one of larger ...
... product characteristics, in worldwide production and consumption, in technology, in size of operation, in geographic location. And the pace of change seems to be increasing. Production is changing from an industry dominated by family-based, small-scale, relatively independent firms to one of larger ...
Chapter 13
... Network provider H2 pays consumers $1 to try its network; consumers have nothing to lose in trying both networks. The green cell is the equilibrium. Users will eventually realize that H2 is better than H1 and that other users have access to this new network. Users will eventually quit using H1, at w ...
... Network provider H2 pays consumers $1 to try its network; consumers have nothing to lose in trying both networks. The green cell is the equilibrium. Users will eventually realize that H2 is better than H1 and that other users have access to this new network. Users will eventually quit using H1, at w ...
Global Marketing - MyBC
... Pursue illicit intermediaries; Fire intermediaries who break the rules. Reduce flow of products into markets where gray market brokers procure ...
... Pursue illicit intermediaries; Fire intermediaries who break the rules. Reduce flow of products into markets where gray market brokers procure ...
Advanced Topics in Business Strategy
... Network provider H2 pays consumers $1 to try its network; consumers have nothing to lose in trying both networks. The green cell is the equilibrium. Users will eventually realize that H2 is better than H1 and that other users have access to this new network. Users will eventually quit using H1, at w ...
... Network provider H2 pays consumers $1 to try its network; consumers have nothing to lose in trying both networks. The green cell is the equilibrium. Users will eventually realize that H2 is better than H1 and that other users have access to this new network. Users will eventually quit using H1, at w ...
Marketing Process
... product is sold in only a few retail outlets, usually because the product is expensive (for example, handmade chocolates) and has an elite image in the consumer's mind. ...
... product is sold in only a few retail outlets, usually because the product is expensive (for example, handmade chocolates) and has an elite image in the consumer's mind. ...
Remember marketing and fill in, please:
... 3. medium 4. tactics 5. trial 6. maturity 7. aimed 8. loyalty 9. advertising ...
... 3. medium 4. tactics 5. trial 6. maturity 7. aimed 8. loyalty 9. advertising ...
Pricing - Prof Marshal Sahni
... works if market is price sensitive low price may discourage competition …market penetration strategy ...
... works if market is price sensitive low price may discourage competition …market penetration strategy ...
Marketing Mix
... His strategy was to make people buy rather than sell his product. The strategy was built keeping in mind the pricesensitive and value-conscious Indian consumers ...
... His strategy was to make people buy rather than sell his product. The strategy was built keeping in mind the pricesensitive and value-conscious Indian consumers ...
marketing activities directed toward identifying and satisfying
... MARKETING CONCEPT STARTS WITH CLEARLY DEFINED MARKET, FOCUSES ON CUSTOMER NEEDS AND WANTS, AND COORDINATE ALL MARKETING ACTIVITIES(PRODUCT CREATION, DISTRIBUTION, PROMOTION ETC) TO OBTAIN PROFITS. ...
... MARKETING CONCEPT STARTS WITH CLEARLY DEFINED MARKET, FOCUSES ON CUSTOMER NEEDS AND WANTS, AND COORDINATE ALL MARKETING ACTIVITIES(PRODUCT CREATION, DISTRIBUTION, PROMOTION ETC) TO OBTAIN PROFITS. ...
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.