marketing

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June 2017

Competitor oriented pricing

By |2017-06-15T12:59:32+02:00June 15th, 2017|Notes, O Level Business Studies Notes, Ordinary Level Notes|

ZIMSEC O Level Business Studies Notes: Marketing:Competitor oriented pricing

  • This is when a firm sets the prices of its products in relation to those of competitors
  • Instead of charging prices based on costs or customer perceptions prices are based on what the competitors are charging
  • This typically involves charging prices that are in line with those of competitors
  • The […]
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Customer oriented pricing

By |2017-06-15T12:35:32+02:00June 15th, 2017|Notes, O Level Business Studies Notes, Ordinary Level Notes|

ZIMSEC O Level Business Studies Notes: Marketing: Customer oriented pricing

  • This is pricing based on the demand for the product and customer’s perceptions of the product’s value
  • Various techniques are used
  • Perceived value pricing-is where the price is chosen to position the product in the market
  • A price is chosen which is consistent with the image of the product
  • This […]
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Cost Based Pricing

By |2018-03-18T11:53:07+02:00June 15th, 2017|Notes, O Level Business Studies Notes, Ordinary Level Notes|

ZIMSEC O Level Business Studies Notes: Marketing: Cost Based Pricing

  • Refers to a variety of pricing strategies which involve the addition of a profit element on top of the costs of production
  • The aim is to make sure that costs incurred in production of each unit are covered by the selling price of that unit
  • Popular cost based pricing […]
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Advantages and disadvantages of cost based pricing methods

By |2017-06-15T11:36:19+02:00June 15th, 2017|Notes, O Level Business Studies Notes, Ordinary Level Notes|

ZIMSEC O Level Business Studies Notes: Marketing: Advantages and disadvantages of cost based pricing methods

  • Cost based pricing models have some benefits and drawbacks

Advantages

  • It is easy to understand and calculate the price
  • These pricing models make sure that incurred costs are covered
  • They can be helpful and do simplify investment appraisal decisions for example using required rate of […]
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Marketing: Introduction to Elasticity of Demand

By |2017-06-15T09:51:37+02:00June 15th, 2017|Notes, O Level Business Studies Notes, Ordinary Level Notes|

ZIMSEC O Level Business Studies Notes: Marketing:Introduction to Elasticity of Demand

  •  Elasticity of demand to which demand for a good or service varies with its price
  • It is a measure of how sensitive or how responsive is demand to changes in the price of a product
  • An elastic product is a product whose demand is sensitive or responsive to […]
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Pricing: Introduction

By |2017-06-15T09:24:45+02:00June 15th, 2017|Notes, O Level Business Studies Notes, Ordinary Level Notes|

ZIMSEC O Level Business Studies Notes: Marketing: Pricing

  • Price is a given value that will purchase a finite amount of a product or right to use that product
  • It is usually the amount of money expected, required, or given in payment for something although it can be in another form other than money
  • The price of a product is usually […]
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Marketing: Personal Selling

By |2017-06-15T08:10:31+02:00June 14th, 2017|Notes, O Level Business Studies Notes, Ordinary Level Notes|

ZIMSEC O Level Business Studies Notes: Marketing: Personal Selling

  • Face-to-face selling in which a seller attempts to persuade a buyer to make a purchase.
  • It aims to persuade the customer and push the product by emphasizing it’s uses and advantages
  • It involves two way communication unlike the case with other forms of promotion such as advertising
  • Personal selling staff […]
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Marketing: Sales Promotion

By |2017-06-14T15:48:01+02:00June 14th, 2017|Notes, O Level Business Studies Notes, Ordinary Level Notes|

ZIMSEC O Level Business Studies Notes: Marketing: Sales Promotion

  • Refers to all forms of promotion other than  advertising or personal selling
  • Stimulation of sales achieved through contests,
  • demonstrations,
  • discounts,
  • exhibitions or trade shows,
  • games,
  • giveaways,
  • point-of-sale displays and merchandising,
  • special offers,
  • trial periods
  • and similar activities.
  • Sales promotions are normally employed in a supportive role together with other forms […]
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Promotional Publicity

By |2017-06-14T15:28:52+02:00June 14th, 2017|Notes, O Level Business Studies Notes, Ordinary Level Notes|

ZIMSEC O Level Business Studies Notes: Marketing: Promotional Publicity

  • Is a type of promotion that relies mainly on press releases to the media
  • Although this often involves mass communication promotional publicity distinguishes itself from advertising in that the information is published for free
  • Thus this type of promotion that relies on public relations effect of a news story which […]
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Benefits and drawbacks of advertising

By |2017-06-14T14:58:03+02:00June 14th, 2017|Notes, O Level Business Studies Notes, Ordinary Level Notes|

ZIMSEC O Level Business Studies Notes: Marketing: Benefits and drawbacks of advertising

  • Not all advertising is successful
  • In fact advertising does have its advantages and disadvantages

Advantages of advertising

  • It informs the customer
  • It is part of the competitive process and fights off the competition
  • It allows consumers/customers to make an informed choice
  • I can act as a guarantee of […]
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