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Seminar paper from the year 2009 in the subject Business economics - Offline Marketing and Online Marketing, grade: 1,3, University of Applied Sciences Berlin, language: English, abstract: When it comes to making buying decision, for example to buy a new car, the consumer is facing a numerous variety of prices for only one product. He or she has to decide whether to take the newest launched model or either the traditional one, with or without an insurance package, delivery or even buy from the internet. Naturally the consumer is reluctant to buy expensive products, when the run on cheap ones are omnipresent in today’s market. Companies try to undercut one another and conduct themselves in would-be price battles. But all this is owed to the fact that on the one side the consumers have decreasing real earnings, which lead to a higher price sensibility, and on the other side the companies look at saturated markets. These markets and their exhausted possibilities to differentiate the products cause a mass competition with the active implementation of pricing as a part of the marketing mix and as a competition instrument. This trend can not only be identified in the business to consumer (B2C) market, but it can also be found in the business to business (B2B) market. In addition an increasing consolidation processes in large parts of the industry and retailing business is recognizable by applying purchasing agents to trade cheaper prices by using their power of demand. Classical examples are the two big discounters like ALDI and LIDL, when it is obvious that they pass over these good conditions to their consumers and use this advantage in competition for their own business. Furthermore the internet with an increasing number of price comparison websites also contributes to this fight for the right price by offering price and product comparisons which hamper the strategies for a better price differentiation. A company’s survival and growth in such challenging and competitive environment depends among other things on the effectiveness of its applied pricing policy.
Introduction to Business covers the scope and sequence of most introductory business courses. The book provides detailed explanations in the context of core themes such as customer satisfaction, ethics, entrepreneurship, global business, and managing change. Introduction to Business includes hundreds of current business examples from a range of industries and geographic locations, which feature a variety of individuals. The outcome is a balanced approach to the theory and application of business concepts, with attention to the knowledge and skills necessary for student success in this course and beyond. This is an adaptation of Introduction to Business by OpenStax. You can access the textbook as pdf for free at openstax.org. Minor editorial changes were made to ensure a better ebook reading experience. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution 4.0 International License.
(Black & White version) Fundamentals of Business was created for Virginia Tech's MGT 1104 Foundations of Business through a collaboration between the Pamplin College of Business and Virginia Tech Libraries. This book is freely available at: http://hdl.handle.net/10919/70961 It is licensed with a Creative Commons-NonCommercial ShareAlike 3.0 license.
This book offers novel methods for developing Value-based marketing strategies aimed at increasing revenue and profits. The Value concept relates all the benefits offered by a product with its price and the effort required to obtain it. Global competition requires managing Value rather than individual products or brands. This fosters customer loyalty, and provides a solid basis for relationship marketing. The book takes a practical, step-by-step approach to explain: • How the forces of supply and demand interact with customer Value; • The relationships between benefits, quantities, prices and costs; • How to develop effective competitive strategies; • How to manage inventory and product mix efficiently; • How to apply the Value model to increase profitability, and solve major marketing problems. The book sets forth several new approaches for marketing and pricing decision-making: • The concept of Value integrates marketing, finance, economics and accounting, in order to link Value-based pricing with relationship marketing. • The law of supply and demand is restated with quantity as a function of Value instead of price; this makes it a more realistic and practical tool for understanding today´s highly competitive business environment. • The confrontation and complementation concepts provide useful tools for guiding marketers into new segments, and pricing products accordingly. They play a key role for devising win-win strategies, not only with customers, but also with competitors. • The Value Matrix is a practical tool for understanding the product´s positioning, analyzing its competition, setting prices and developing strategy. It aims at achieving an optimal balance between customer loyalty and product mix profitability. • The Value Life Cycle illustrates how Value acts as a force that constantly changes revenue, providing insight for developing strategies in each phase of the product´s life cycle. • Analogies with physics illustrate how policy constraints create resistance to sales velocity, thereby determining the rate at which a firm advances towards its financial and marketing goals. • The strategy for pricing business services applies Value to balance supply with demand; this leads to increased revenue. • The marketing approach set forth unifies product portfolio and inventory management with Value-based pricing for maximizing income. Clear explanations and accessible language make this book ideal for marketing professionals and non-specialists. Advanced readers may refer to the appendices, where the subjects are analyzed further and the mathematical foundations are laid out; numerous solved problems of pricing and costs are included.
According to Kotler distills the essence of marketing guru Philip Kotler's wisdom and years of experience into an immensely readable question and answer format. Based on the thousands of questions Kotler has been asked over the years, the book reveals the revolutionary theories of one of the profession's most revered experts.
Offensive Marketing is the best source for competitive executives who are serious about strengthening their marketing skills and producing new outcomes. The authors bring the acclaimed POISE (Profitable, Offensive, Integrated, Strategic, Effectively Executed) framework to a North American audience. POISE brings together advances in strategy, innovation, and approach to produce a new level of effectiveness and market results. Extensively used by companies and individuals worldwide, this freshly adapted book is an essential resource for all marketing students and professionals interested in achievable strategies and profitable marketing.
The broad foundation of this book is laid on the conceptual discussions on consumer theories and applied arguments on shifts in consumer behavior. This book develops knowledge and skills on building market-centric and competition-oriented models. Discussions in the book illustrate strategies for managing competitive market interventions through advanced marketing-mix elements across nine chapters. Various perspectives on innovation and technology for expanding and establishing business in competitive markets are critically reviewed in these chapters. This book examines advanced marketing-mix and several consumer-centric strategies to co-create new businesses in new markets by associating consumers.
The most neglected element of the marketing mix can have an unrivalled impact on the bottom line. Smarter Pricinghelps managers make more intelligent pricing decisions, implement pricing strategies and structures more effectively in the market and capture more value for their business. At no time has effective pricing been more significant. Buyers are getting stronger, markets more transparent, and manufacturers in new powerhouses such as China, are becoming more and more competitive. Recent McKinsey survey of 2500 companies calculated that a 1% increase in price improves operating profit by 11.1%. Smarter Pricing is a good, hands-on book on pricing for practising managers, providing a developed mix of techniques through international examples from a range of sectors that bring pricing theory into a real-world context. Smarter Pricing joins the developing suite of FTPH books offering executives focused and practical advice on decisive business challenges. Smarter Pricingis a fast and focused companion to practical price management, for executives and marketers in every sector.
NTA UGC NET/JRF/SET General Paper I (Compulsory) Teaching & Research Aptitude 27 Solved Papers (2021-2006) & 35 Practice Sets The Present Edition of “Teaching and Research Aptitude” has been carefully prepared to serve as a Solved Papers /Practice Sets for those aspirants who are preparing for UGC NET/JRF/SET (General Paper-1) conducted by NTA (National Testing Agency). -This book contains 35 Practice Sets and also covers 27 Solved Papers (2022-2006) with explanation. -The subjects are arranged exactly as per the latest syllabus and pattern, to make it 100% convenient for the candidates. -This book gives you an idea of the questions asked in previous years' exams, and also what type of questions you should expect in the upcoming exam. Topics to be covered Unit-1 Teaching Aptitude Unit-2 Research Aptitude Unit-3 Comprehension Unit-4 Communication Unit-5 Mathematical Reasoning and Aptitude Unit-6 Logical Reasoning Unit-7 Data Interpretation Unit-8 Information and Communication Technology (ICT) Unit-9 People, Development and Environment Unit-10 Higher Education System Highlights of the book 3500+ Solved Question for Practice with Answers Practices Sets are a collection of useful exam questions Answers with explanations are available for all questions Based on latest syllabus and exam pattern