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 that a price must cover [...]
In this article we will discuss about the concept of product mix and the factors influencing it. Concept of Product Mix: Product mix refers to the depth and width of product policy of a company. It is concerned with product diversity, i.e. how far a company can or should diversify its products. It is defined as "the composite of products [...]
In this article we will discuss about:- 1. Meaning and Characteristics of Advertising Copy 2. Factors Affecting Advertising Copy 3. Essentials 4. Component Parts or Elements. Meaning and Characteristics of Advertising Copy: An 'advertising copy' is the means by which an advertiser expresses his ideas in the form of a message to the readers. If refers to all the reading [...]