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Essay / Research Paper Abstract
This 10 page paper consider five different aspects of marketing, defining and explaining them with examples. The paper looks at pricing, distribution, product branding, segmentation and buyer behaviour. The bibliography cites 7 sources.
Page Count:
10 pages (~225 words per page)
File: TS14_TEmaris1.rtf
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Unformatted sample text from the term paper:
will impact not only on sale revenue, but also on the perception of the product and reflect the target market. The way that price is set should be with
an understanding of pricing strategy as well as consideration of positioning. The first aspect to understand is that of price elasticity. Price elasticity of demand is based on the change
that will be seen in the demand for a product when the price changes. In most cases an increase in price will result in a decrease in demand. This calculation
allows us to quantify the change. The calculation is relatively simple, the figures required can usually be gained form the historical sales figures of a company. For some goods
the impact will be the opposite, an increase in price may increase demand, or conversely a cheaper price will put off potential buyers. These are known as griffin goods as
they behave conversely to the normal model. These may be seen as both extremes of the market, Designer labels may be a decrease in demand when price drop due to
a perceived lack of exclusivity. This is the impact that was felt by Gucci when they undertook a strategy of brand extensions. The brand was devalued and sales dropped as
process dropped. The company lost their exclusivity. The opposite may be seen as the budget end of the market with prices falling indicating a fall in sales of very cheap
products as consumer switch to more costly/quality goods. The impact of price or price change can be calculated easily. The calculation is in the form of a division, on
the top of the division is the percentage change in the quantity demanded, (this means the percentage change in the number bought if these are from historical figures), which is
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