is an estimate of sales in physical units for a specified future period under proposed marketing plan or programme and under the assumed set of economic and other forces outside the organization for which the forecast is made. Long term forecasts: Product diversification, sales, advertizing budgets, capacity planning and investment planning, Short term forecasts: Material control, loading and scheduling, and budgeting. Objectives of forecasting Short term objectives • • • • • • Formulation of production
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superficial attributes of a specific product while other parameters define the products fundamental parameters. The fundamental parameter of Thorr Motorcycle’s perceptual map is a lifestyle image which highlights the motorcycle industry. The projected image of motorcycles assumes characteristics of masculinity, mobility, and freedom (University of Phoenix, 2008). Thorr Motorcycles is a unique name that represents superiority and power. The number 1 product of the company CruiserThorr is the result
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sell it back at a lower price and still make a good profit. Ingvar’s entrepreneurial style brought him to the furniture business. He was able to build the furniture locally, close to his family farm. By having the local manufacturers produce his product designs, the price was kept very low. This enabled Ingvar to sell the furniture at a low price and still make a profit. This type of strategy is known today as cost-leadership. Cost leadership strategy involves the firm winning the market by focusing
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also developed new products in order to adapt this new market. As a result, Thailand became another kingdom for Bubble Tea. DAKASI also becomes the top brand for Bubble Tea in Thailand. Although there are a lot ofFPDPD competitions who uses lower price strategy, but DAKASI believes that quality is the key point to lead the industry success. Market objectives The objectives of the marketing plan are strategically centered around 3 criteria: first, to create strong consumer awareness towards
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merchandising organization 2.3.1 Private label programme 2.3.2 Group purchasing 2.3.3 Centralized buying 2.3.4 Other merchandising services 2.4 The major organizational structures for fashion merchandising activities 2.4.1 Functional division type 2.4.2 Product/market division type 2.4.3 Matrix organization type 1 Objectives After studying this chapter, you should understand the following: the various types of fashion merchandising organizations major merchandising services offered by these organizations
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costumers, Ranade points out a new approach – “8L” theory. The Product Life Cycle is a process that the new product enters the market until it is eliminated by the market. The product life cycle may show the tendency of shortening because of innovations, and the increasing trend because of the improvement in quality and characteristics. Similarly, Users’ Life Span is also a process that customers have an idea to purchase a product until they really pay for it. Learning should impress users through
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III. Determine Marketing Mix Alternatives A. Product (Goods and/or Services) B. Price C. Place (Distribution) D. Promotion (Advertising and Promotion) E. Evaluation of Alternatives IV. Implementation, Adaptation, and Renewal A. Implement Decision B. Monitor & Control C. Adapt & Renew Figure 1 Framework for Marketing Overview The framework for marketing - the process for implementing the Value Cycle - is illustrated in Figure 1. The basic steps are outlined
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of Unit 3 in Business Studies which is called 'Marketing'. Pricing Strategies Firms think very carefully about the price to charge for their products. There are a number of factors to take into account when reaching a pricing decision: Customers - Competitors - Costs. There are times when businesses are willing to set the price of a product below unit cost. They use this loss leader strategy to gain sales and market share. An example of the 'loss leader' strategy is the 'Bugatti Veyron'
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Today, apparel supply chains are becoming more prone to both controllable and uncontrollable risks. This phenomenon may be attributed to many causes but not limited to less vertical integration, fragmentation of supply chain ownership, short product life cycle, ever-changing customer expectations, increasing level of competition, environmental regulations, rapid technology obsolescence, etc. These risks deteriorate directly the apparel supply chain performance in terms of both efficiency and responsiveness
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changes in price. In contrast, third degree price discrimination refers to a pricing strategy under which firms with market power separate the market by charging lower price for consumer groups with elastic demand and a higher price for consumers with elastic demands. The relationship between them is the demand for the product differs according to the elasticity. For own price elasticity the price is determined by the elasticity and equilibrium whereas for third degree price discrimination, the firm
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