Answer: A business can use a variety of pricing strategies when selling a product or service. The Price can be set to maximize profitability for each unit sold or from the market overall. It can be used to defend an existing market from new entrants, to increase market share within a market or to enter […]
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There are potentially dozens of different supplementary services, but almost all of them can be classified into one of the following eight clusters; a) Information: To obtain full value from any good or service, customers need relevant information. New customers and prospects are especially information hungry; they want to know what product will best meet
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Managing demand and managing capacity : Some capacity is elastic in its ability to absorb extra demand. A subway car, for instance, may offer 40 seats and allow standing room for another 60 passengers with adequate handrail and floor space for all. In short, there are several actions that managers can take to adjust capacity
What are the steps of developing a positioning strategy? Answer: Positioning plays a pivotal role in marketing strategy, because it links market analysis and competitive analysis to internal competitive analysis. From these, there, a position statement can be developed that enables the service organization to answer the questions. “What is our product (or service concept),
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Answer: Service marketing involves of marketing of something which is intangible and which is usually consume at the point of delivery. Booms and Bitner suggested three key elements for service marketing. These are discussed bellow: Key element of service marketing: People: Most services are provided by people, the selection, training and motivation of employees can
What are the scopes of service? Answer: Service is any activity, performing by benefit that one party offers other party that is essentially intangible and it never changes its ownership. Services marketing is a sub field of marketing which covers the marketing of both goods and services. Goods marketing includes the marketing of fast moving
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