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Determine about the Industrial Goods
Goods meant for consumption or use as inputs in production of other products or provision of some services are called as 'industrial goods'. These are meant for commercial and non-personal use and include (i) raw materials, (ii) machinery , (iii) components, and (iv) operating supplies (like lubricants, stationery etc). Buyers of industrial goods are supposed to be knowledgeable, cost conscious and rational in their purchase and hence, marketers follow different pricing, distribution and promotional strategies for their sale.
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Initially supply falls as goods may be destroyed. As the disaster strikes, the demand also rises in anticipation of more supply disruptions as people want to 'stock up' on the good
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Name the factors affecting pricing decisions a) Cost b) Demand c) Competition d) Marketing Objectives e) Government Regulation
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