The four basic methods of making pricing decisions are cost-plus pricing, demand pricing, markup pricing and competitive pricing. These methods are used to determine the optimal price that a customer is willing to pay for a product or service.Know More
According to McKinsey & Company, increasing the price of a product or service by only 1 percent translates into a profit increase of 8.7 percent, assuming volume remains the same. There are four methods a company can use to calculate the optimal price.
Sales forecasting methods are techniques that apply historic sales data to determine future consumer purchasing trends. A company uses forecasting techniques to allocate funds in its budget for sales and marketing activities conducted over a specific period to maximize the return on their investment. Some sales forecasting techniques include forecasting based on the opportunity stages, length of the sales cycle, regression analysis and scenario writing.Full Answer >
According to Market Research World, casual research design is used to study the effects that one variable has on another. Companies often use the results to form their business plans.Full Answer >
A maisonette is a two-story apartment located inside an apartment building or a large house that is separated completely from other dwellings by a horizontal wall. Maisonettes, the French term for tiny houses, have private entrances, unlike apartment buildings, which share an entrance and hallways.Full Answer >
A marketing plan is a detailed blueprint that outlines the strategies and efforts of a company aimed towards marketing. A plan helps businesses to stick to a particular schedule and manage their finances wisely. It allows businesses to set realistic and achievable objectives; ideally, it allows businesses to develop goods and services that are designed to meet the needs of their customers.Full Answer >