Day: November 25, 2021

FACTORS/CRITERIA TO CONSIDER IN SELECTING THE MOST APPROPRIATE MEDIA FOR ADVERTISING Cost element-refers to amount of money to be spent in advertising. select the most cost effective media. Frequency-this is the number of times the public will hear a single Read More …

PROMOTION/INTEGRATED MARKETING/COMMUNICATION MIX. Promotion is a function of marketing mix and is a technique used in creating awareness on the company’s product as well as the company itself. ELEMENTS OF PROMOTION. 1.ADVERTISING. This is any paid form of non-personal presentation Read More …

FACTORS TO BE CONSIDERED WHEN SELECTING A DISTRIBUTION CHANNEL Customer characteristics-this include type of customer, geographic dispersion  of buyers ie location to manufacturers, customer buying habits and the outlets they purchase from. Product characteristics-this includes perishability, product usage(industrial-direct or household-indirect). Read More …

PLACE/DISTRIBUTION/TRANSPORTATION CHANNELS OF DISTRIBUTION A channel of distribution is the route or path followed by a product as it moves from the producer to the consumer/final user. TYPES OF DISTRIBUTION CHANNELS USED. They are mainly classified into two main categories Read More …

METHODS OF PRICING/DETERMINING PRICE LEVELS Cost-based pricing. Mark-up pricing-this involves adding a standard markup to the product cost .markups  are higher on seasonal items, slower moving items and items with high sewerage and handling costs a high mark up however Read More …

PRICE /PRICING This is the amount of money charged for a good or service, This is the sum of value consumers exchange for the benefit of having or using a good or service. This is the market value of a Read More …

 INDIVIDUAL PRODUCT DECISIONS This is a name, term, sign, symbol or design or a combination of the terms intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competitors. Read More …

STEPS IN NEW PRODUCT DEVELOPMENT IDEA GENERATION– This is the creation of ideas .the ideas can be generated from; Customers ie Customer ways-this is where you ask customers their need and wants which are not being met. Focused group discussions-this Read More …

SETTING BUSINESS GOAL All businesses have objectives and these are the goals of the business. They are the outcomes or targets that the business wants to gain in order to achieve its aims. Business objectives can be long-term objectives or Read More …