CHRISTIAN SERVICE UNIVERSITY COLLEGE DEPARTMENT OF BUSINESS STUDIES PRICING AND ITS EFFECTS ON CONSUMER BUYER BEHAVIOUR BY ISAAC OFORI MANU SHIRLEY ANNOR PRISCILLA ADJEI ERIC OFOLI ANANG MARY ABENA FORDJOUR JULY 2011 STATEMENT OF AUTHENTICITY We have read the university regulation relating to plagiarism and certify that this report is all our own work and do not contain any unacknowledged work from any other source. We also declare that we have been under supervision for this report herein
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Pricing is one of the most important elements of the marketing mix as it is the only mix‚ which generates a turnover for the organization; the remaining 3p’s are the variable cost for the organization. It costs to produce and design a product; it costs to distribute a product and costs to promote it. Price must support these elements of the mix. Pricing is difficult and must reflect supply and demand relationship (Constantinides‚ 2006). Pricing a product too high or too low could mean a loss of sales
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society he belongs to. It includes the kinds of lifestyles‚ his daily practices‚ the law that governs him and civic morals. Usunier (1996‚ p.12) states that some elements of culture include languages‚ nationality‚ education‚ occupation‚ ethic & racial groups‚ religion‚ family‚ sex‚ community class and company culture. The marketing mix comprises of the four P- frameworks namely Product‚ Price‚ Place and Promotion. A recent study (Doswell & Gamble‚ 1981) has shown that the product is the main unit
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objective of the study is to see customer satisfaction about marketing mix of LUX soap. 1.2 Significance This report is a requirement of the program for MBA program. We have tried our level best to make it as an excellent one. We used all the latest data and information. The report can help as the indicator of the level of satisfaction of the customers of the LUX soap and its marketing mix. It provides the true practice taking place in the marketing industry‚ which plays an important role for every student
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Action Strategy: Objectives‚ the choice of entry mode‚ marketing mix plan and strategy. Objectives Enhacing the corporate image of Red Bull In general and introduce the new variation Red Bull Cola to the market. Increasing awareness of the new product Stimulating the sales Leveraging corporate reputation Maintaining the domination of the market share of energy drinks market. Fitting in the Spanish market by adapting to the philosophy of energy drinks
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Pricing Pricing is the process of determining what a company will receive in exchange for its products. Pricing factors are manufacturing cost‚ market place‚ competition‚ market condition‚ and quality of product. Pricing is also a key variable in microeconomic price allocation theory. Pricing is a fundamental aspect of financial modeling and is one of the four Ps of the marketing mix. The other three aspects are product‚ promotion‚ and place. Price is the only revenue generating element amongst
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Revenue Management 2012/2013 (FTRD 9001) In an economic downturn‚ the task of the Revenue Manager is a challenging one‚ with a fall in overall demand and ensuing lower prices in the Market Place. Discuss strategies and tactics that may be used to best manage revenue in the current environment. TABLE OF CONTENTS Summary......................................................................................................................3 1. Introduction ...................
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Written Assignment 5 Pricing Strategies One of the four major elements of the marketing mix is price. Pricing is an important strategic issue because it is related to product positioning. Pricing also affects other marketing mix elements as well‚ such as product features‚ channel decisions‚ and promotion. A pricing strategy is a course of action designed to achieve pricing objectives. This strategy helps marketers set prices. There are many ways to price a product. The following‚ figure
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CHAPTER – I INTRODUCTION Introduction to marketing: Every economic system has its own marketing system‚ in this competitive era and technological development requires a particular marketing system. In this word market there is a set up rules and regulations for exchanging goods and services. Marketing is an economic process by means of which goods and services are exchanged and their values determined in terms of money prices. It is that phase of business activity through which human wants are
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Q1. How might revenue management be applied to a professional services firm (e.g. consulting)‚ a restaurant‚ and a golf course? What rate fences would you use and why? Revenue Management for a professional consulting firm:- Revenue management for a professional services firm can be applied by defining different packages for major clients‚ minor clients & new clients. Model can be adjusted as fixed price model as well as fixed plus variable cost model. This can be further differentiated with proficiency
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