BUS 311 Lecture Notes - Lecture 1: Price Skimming, High Standard Manufacturing Company
Document Summary
Place the place in which the product is actually sold. There are lots of different places to list a product, such as - telemarketing, catalogue, mail order, trade shows, retail establishments, online establishments. It is common to use a combination of these methods. The seller needs to choose the best place to sell their product to maximise sales. Price making sure the price of a product is always appropriate to the current market. For example, at times it is appropriate to increase the price and others to reduce it. You can also change the terms and conditions of a sale. For example, rather than paying fully for a product at once you can stretch the payment over a period of time, potentially benefiting the company. Promotion - promotion includes all the ways you tell your customers about your products or services and how you then market and sell to them.
