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 [...]
The upcoming discussion will update you about the difference between advertising and publicity. Difference between Advertising and Publicity Publicity 1. The term is a 'noun' from the view-point of grammar. 2. An idea or a thing is made known to the public through this. So, it has an educative value. 3. Publicity is a generic term which signifies an effort [...]