Business Fenctions --> marketing 2
- Created by: Ali Bland
- Created on: 04-03-15 20:47
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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
- Rising Star
- 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
- Cost-plus pricing
- 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
- Elastic Goods
- 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
- Physical distribution
- The boston matrix
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