PRICE /PRICING This is the amount of money charged for a good or service. This is the sum of value consumers exchange for the benefit of having or using a good or service. This is the market value of a product as it is offered in market. FACTORS AFFECTING PRICING DECISIONS/FACTORS TO CONSIDER WHEN PRICING […]
VALUE/IMPORTANCE OF BRANDING FOR CUSTOMER AND MARKETERS Brands facilitate purchasing-brands are often easily recognized by consumers and because they signify a certain quality level and contain familiar attributes, and also assits consumers make quick decisions e.g. Honda in terms of level of quality, engineering, relative status and generally the cost. without branding, how could we
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NEW PRODUCT DEVELOPMENT PROCESS New products has three forms. New to the world-this is a truly unique product that is there is no other product like that in the market. Improvement /revision to the existing products. this are products that are significantly different from existing goods in that they provide improved performance. Imitative products-they are
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PRODUCT CLASSIFICATIONS Durability and perishability. Durable goods normally service many uses and are consumed or used for a very long period of time. Perishables are used once or a very short period of time. Other products which are taken into account in this stage includes tangible items which are usually felt, touched or seen while
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