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  • Home
  • Finance
    • Financial Management
    • Strategic Management
    • Investment Analysis and Portfolio Management
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    • Islamic Banking & Finance
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  • Marketing
    • Principle of Marketing
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    • Human Resource Management
    • Principles of Management
    • Training & Development
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Types of Pricing

By Richard Daniels Reading Time: 4 mins
Updated May 18, 2021
Pricing Strategies

Pricing Approaches

Setting a price for a product or service is not an easy task and your pricing approaches matter a lot in this regard. The price of a product or service is kept to a level that can generate both profit as well as demand. However generally the cost of the product or service provides the lower limit of the price. Although the perceived value by consumers provides the upper limit for setting price. Business Organizations should also take into account the prices of their competitors. Along with other internal and external factors. There are general Pricing Approaches that can be applied by businesses in setting prices for their products or services. These pricing approaches are of three types.

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Marketing Promotional Tools

By Richard Daniels Reading Time: 4 mins
Updated May 18, 2021
marketing-Promotional-Tools-image

Marketing Promotional Tools

For an effective promotion of any product or service, there are a number of marketing promotional tools that can be utilized in a promotion program. These should be applied carefully according to the given circumstances. Since every promotional tool is suitable for certain circumstances.

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7 Ps of Marketing Mix

By Richard Daniels Reading Time: 4 mins
Updated May 17, 2021
7 Ps of Marketing

Marketing Mix

Nowadays the 4Ps of marketing and the 7 Ps of marketing mix is common. Almost every business student is well familiar with all of them. Marketing is simply a process to create, communicate and  deliver the values to the targeted customer at a profit. Marketing does not mean only to sell and distribute the goods or services. However modern marketing starts from identifying customer needs and wants. Actually which customer desires in the targeted market.

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Product Life Cycle

By Richard Daniels Reading Time: 4 mins
Updated May 17, 2021
product life cycle

Product Life Cycle

Every product has a definite life and in business through the various stages of the product life cycle. So we measure its performance and success rate in the market. This means that when a new product has been developed then it would pass through the product life cycle (PLC). Basically in which it would show different levels of sales and profit. The business organization has the desire to cover all the risk and efforts made in developing and selling that product. Thus product life cycle includes different products having different life cycles depending on their demands. Along with changing trends in the markets.

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Market Segmentation

By Richard Daniels Reading Time: 5 mins
Updated May 7, 2021
market segmentation

Market Segmentation

The market segmentation can be defined as the division of the market into the different categories on the basis of various characteristics and features. All the customers are not similar, they vary in their relative buying attitudes, wants, locations and resources. Therefore it’s almost impossible to cover all of them in best possible manners. The business organizations divide the whole market into different groups. Later then target one or two (or even more) groups with the different sets of marketing strategies. This process of dividing the market into different sub categories. Thus then implementing strategies for all of them is known as market segmentation.

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