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State the term Premium Pricing briefly?
Premium Pricing:
This price strategy applied to various version of to similar product. It is a better version and a fundamental or standard model. For standard model the potential buyers are not, when economic of scale exists this is unprofitable for the firm to limit its activities to one of the two market segments the suits solution is to exploit jointely economic of scale and heterogeneity of demand through covering the two segments the lower end of the market along with a low price and the high ending along with a premium price. For example: Airlines have used such strategy. Their market comprises both a price insensitive business traveller and an extremely price sensitive holiday traveler.
what is meant by line extension of a product?
"A Product mix (also called product assortment) is the set of all product lines and items that a particular seller offers for the sale to buyers". An organization with the several
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Full market coverage: here a firm concentrates on serving many needs of a particular customer group. Only very large firms can undertake a full market coverage strategy. Examples
What is economic utility of marketing? Economic Utility of Marketing: The extent to that, a product satisfied customer requirements and wants is called utility. The amount
[X,D] = eig(A) given X and D find A
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Define the Advertisement contents? Advertisement contents Message : - Consist of opinion, symbols, Facts and Pictures related to the product. Purpose: - Communi
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