The price adjustment strategies relate to all the strategies implemented by an organization that takes into account the differences between customers and rapidly changing. The price adjustment strategies are: geographical pricing, psychological prices, segmented prices, promotional prices, international prices, supply and pricing of allowances. The explanation of these strategies is as follows.
Discount and allowance [...]
Consumer behavior refers to the selection, acquisition and consumption of goods and services to meet their needs. There are different processes involved in consumer behavior. Initially, the consumer tries to find what products you would like to consume, then select only those products that promise greater utility. After selecting the products, the consumer makes an [...]
The consumer buying behavior is defined as a process in which the individuals search, purchase, use and finally dispose of the goods and services in accordance to their needs, wants and satisfaction. In other words, the consumer buying behavior studies the actions and decisions of the people that motivate them to involve in buying and [...]
Advertising is heavily focused on the analysis, planning, control, and decision-making activities of this core institution – ‘advertiser’. The field of advertising is made up of a system of interacting organizations and institutions, all of which play a role in the advertising process. At the core of this system are the advertisers, organization that provide [...]
Traditional marketing mix consist of 4P’s (Product, Price, Place, Promotion) now it’s extended to 7P’s the additional 3P’s are useful for services industry which will help the company to provide good services to their consumers. Only the additional 3P’s will be discussed which is related to services industry
Following are the additional 3P’s
1. People
2. Process
3. Physical [...]
Objective plays an important role in business because it shows the path that what to achieve if company don’t have any objective and keep on workings will never be satisfy of their work because employees will really don’t know that what they want to achieve? What is their aim? What is the reason of the [...]
Direct mail is actually a form of advertising, used by advertisers. Advertisers send printed ads, letters etc. to a large group of targeted consumers. These letters are mailed in bulk to reduce mailing cost; the main focus on target market mailing is done to get good response. Though it used in different situations, the method [...]
Sales promotions are generally short-term incentives. These incentives are given to encourage maximum sales of a product or service; however these incentives are not for consumers alone but can also be given to wholesalers and retailers by the company. Sales promotions comprise various communication activities, which try to offer added value to customers to stimulate [...]
Sponsorship is a business relationship, between two parties. This relationship is determined through a trade of product, fund or services where both parties seek profitable benefits. Sponsorship is basically a relationship that is equally valuable to the sponsored as well as the sponsor. It is also the fastest growing form of marketing in the world, [...]
Public relations or PR on the whole is part of management. It deals with managing the communication between the public/customer and the organization. “The main goal of a public relations department is to enhance a company’s reputation. Staff that work in public relations, or as it is commonly known ‘PR’ are skilled publicists. They are [...]