Category: principles and practices of marketing

Customer characteristics – This include type of customer, geographic dispersion of buyers i.e. location to manufacturers, customer buying habits and the outlets they purchase from. Product characteristics – This includes perishability, product usage (industrial-direct or household-indirect). Company characteristics – This Read More …

Channel Conflict This are disagreements among marketing channel members on goals and roles i.e. who should do what for what rewards.eg Horizontal conflict-refers to same level (among retailers). Vertical conflict-this are conflicts between different levels e.g. (wholesalers and retailers). CAUSES Read More …

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 i.e. Read More …

1. Cost-based pricing i. 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 may Read More …

Price is a means of regulating the economic activities ie keeping the economy in balance. Price has a considerable impact on consumer perception i.e. a marketer can either increase the price and emphasize on quality or lower the price and Read More …

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 product as Read More …

Marketers must understand this process in order to build an effective strategy for early market penetration. The Consumer Adoption Process This process describes how potential customers: Learn about new products, try them and Adopt or reject them. Adoption is an Read More …

1. BRANDING 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. Basically, Read More …

1. Product Mix of a company refers to a set of all products, lines and items that a particular seller offers for purchase to buyers / consumers. Conversely, 2.A company’s product line refers to a group of products closely related Read More …

Core benefit – The fundamental service or benefit that the customer is really buying. Basic products – Is the physical/ tangible product Expected product – Set of attributes and conditions that buyers normally expect and agree to when they purchase Read More …