Business Fenctions --> marketing 2

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  • Business Functions --> Marketing 2
    • The boston matrix
      • Rising Star
        • Products with high market share in a fast growing market
      • Cash cows
        • Products with a high market sure in a slow growing market
      • Problem children
        • Products with a low market share in a rapidly growing market
      • Dogs
        • Products with a low share of a slow growing market
    • What is price determined by
      • Supply & demand
      • Quality of product
      • Conpetitors prices
      • The pricing strategy chosen by the firm
    • Pricing strategies
      • Cost-plus pricing
        • This involves adding a certain amount to the cost of producing a product
      • Contribution pricing
        • The price is set to cover the direct costs plus an additional amount
      • Price discrimination
        • Changing different prices to different customers for the same product of service
      • Promotional pricing
        • Takes many forms e.g. special offers
      • Psychological pricing
        • Setting a price to suggest a product is cheaper than it actually is e.g. £99.99
      • Penetration pricing
        • Selling a low price for a new product and then raising it slowly
      • Price skimming
        • Setting a high price for a new product
      • Predatory pricing
        • Setting the price low on an on-going bass to force competition out of the market
    • Price elasticity of demand
      • Elastic Goods
        • Goods for which i would change my spending habits following a change in price
      • Inelastic good
        • Goods for which mu buying behaviour would not change following a change in price
    • Distribution
      • Physical distribution
        • The physical movement of goods from product will be made available to its users e.g. Royal Mail
      • Distribution channels
        • The rate through which a product passes moving from the producer to the consumer


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