Prof. Copeland gives a following classification of ‘Goods’: 1. Consumer Goods: Consumer goods of different classes are discussed below: 1. Convenience Goods: Convenience Goods, usually of semi-durable nature, refer to those comparatively high value items which the customers buy after paying consideration as to quality, price, design, etc. The buying motives of the customers exhibit a high degree of differentiation [...]
The choice of an appropriate channel of distribution, as an important marketing decision, depends on a variety of considerations like nature and type of products, nature of services to be rendered, stability of production, costs involved, and the type of promotional efforts undertaken by the marketing management. So, the distribution channels to be employed should be different for consumer goods, [...]
The following points highlight four main pricing objectives of a firm. The objectives are:- 1. Target Return on Investment 2. Long-Term Stability of Product Prices 3. Market Share Maximisation and Stabilization 4. Meeting Competition. Objective # 1. Target Return on Investment: Earning a satisfactory rate of return on capital employed on a long-term basis is the most common pricing objective [...]