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 [...]
Some of the frequently asked exam questions on sales promotion and management are as follows: Q.1. “Salesman are Born. They are not made.” Discuss. Ans. In India sales management has been gaining importance only in recent years. This apathy is due to 'production-oriented' marketing policy adopted by the business firms. The conditions are changing and the marketing-guided sales management has [...]