Archive | Products

Product Classification of a Firm: 2 Issues | Business

The following points highlight the two major issues of product classification of a firm. The issues are: 1. Competing Products 2. Market/Demand Classification for Products. Issue # 1. Competing Products: They can be classified into one of three categories as follows: (i) A breakthrough product: This offers either a radical performance advantage over competition, a […]

Methods Used for Pricing of Products | Marketing Mix | Marketing

The different methods adopted for pricing the products can be classi­fied into two major groups as charted below: Pricing Methods Based on Costs: 1. Total Cost or Full Cost Method of Pricing: The selling price is fixed on the basis of total costs. Total cost may be historical cost or standard cost. The method assumes […]

Product Design: Requirements and Factors | Industries

After reading this article you will learn about the requirements of product design and factors affecting it. Requirements (or Considerations) of a Good Product Design: It is not possible to specify exactly what constitutes a good design, but the essential requirements are that it should bring: (a) In order to achieve customer satisfaction: The product […]

Channels of Distribution

After reading this article you will learn about:- 1. Meaning of Channels of Distribution in Marketing 2. Channel Choice in Marketing. Meaning of Channels of Distribution in Marketing: We can define formally the distribution channel as the set of marketing institutions participating in the marketing activities involved in the movement or the flow of goods, […]

Department Store: Meaning, Features and Advantages

After reading this article you will learn about:- 1. Meaning of Department Store 2. Features of Department Store 3. Advantages 4. Disadvantages. Meaning of Department Store: A department store is a huge retail shop situated at a central place in the city, divided into a number of small shops or departments each dealing with one […]

Top 6 Large-Scale Retailers | Marketing

This article throws light upon the top six large-scale retailers. The retailer are: 1. Mail Order Sale 2. Consumer Co-Operative Stores 3. Vending Machine 4. Discount Houses 5. Supermarket 6. One-Price Shop. Retailer # 1. Mail Order Sale: Standardisation, grading, branding and packaging brought about the growth of mail-order sale, i.e., selling or shopping by […]

Consumer Co-Operative Store and Proprietary Retails Shop

This article will help you to differentiate between Consumer Co-Operative Store and Proprietary Retails Shop. Difference # Consumers’ Co-Operative Store: 1. Co-operative store is a co-operative organisation and follows principles of co-operation. 2. Co-operative store aims at offering service to the members and the society. It can never indulge in profiteering, black marketing, etc. It […]

Multiple Shops: Meaning, Types and Features

After reading this article you will learn about Multiple Shops:- 1. Meaning of Multiple Shops 2. Types of Multiple Shops 3. Features 4. Advantages 5. Disadvantages. Meaning of Multiple Shops: A multiple shop system is a network of number of branches situated at different localities in the city or in different parts of the country. […]

Common Routes of Product Distribution

This article throws light upon the five most common routes used for bringing products in the market. The routes are: 1. Manufacturer→ Consumer→ Channel 2. Manufacturer→ Retailer→ Ultimate Consumer 3. Manufacture→ Wholesaler→ Retailer→ Consumer 4. Manufacturer→ Agent→ Wholesaler→ Retailer→ Consumer 5. Manufacturer→ Wholesaler→ Consumer or User. Route # 1. Manufacturer→ Consumer→ Channel: (Direct Sale) There […]

Important Components of Physical Distribution of Products

Important components of physical distribution of products are: 1. Order Processing 2. Transportation 3. Warehousing 4. Inventory Control! Physical distribution is an important element of marketing mix; it involves physical handling and movement of goods from the place of production to the place of consumption. (more…)