Each company uses some form of analysis to determine pricing policy for its product or service. The price is the amount that customers must spend or are willing to pay for that product or service (list price). Pricing Strategy: Meaning, Framework for Selecting Strategies and Conclusion Contents: Meaning of Pricing Strategy Framework for Selecting Pricing Programs/Strategies Conclusion to Pricing Strategy [...]
In this article we will discuss about the concept of industrial value chain, explained with the help of a diagram. The technological environment is fast changing all over the world due to competition. There is, thus, a need to find improved solutions to problems. These changes demand increased emphasis on activities like quality, material utilisation, machine availability and use in [...]
In this article we will discuss about the concepts of heuristic model and heuristic programming used in managerial decision making. Heuristic Model: The term 'heuristic' means serving to discover or to stimulate investigation, in a literary sense. In its technical sense, heuristic is frequently associated with the simulation of human problem-solving techniques by means of computers. Heuristic model refers to [...]