In this article we will discuss about the strategic planning process for industrial marketing. Stage-1 - Defining the Organization's Mission: A company's mission reflects the business domain or framework within which the firm will operate. The business domain of the organisation consists of the customer groups that will be served, basic products that will be offered and the technology involved. [...]
A Product's Life Cycle (PLC) can be divided into several stages characterized by the revenue generated by the product. The life cycle concept may apply to a brand or to a category of product. Its duration may be as short as a few months for a fad item or a century or more for product categories such as the gasoline-powered [...]
Setting the Price of a Product: Policy, Determination ,Methods and Strategies! Types of Pricing: Pricing for products or services encompass three main ways to improve profits. These are that the business owner can cut costs or sell more, or find more profit with a better pricing strategy. When costs are already at their lowest and sales are hard to find, [...]