13. Explain the two main consideratin for setting prices?
Ans: market skimming pricing is setting high price for a new product to skim maximum revenues layer by layer from the segments willing to pay the high price ;the company makes fewer but more profitable sales.
Market penetration pricing is setting a low price for a new product in order to attract a large number of buyers and a large market share.
14. Discuss the different types of Costs of Production?
Ans: the different types of Costs of Production is Fixed costs and Variable costs
15. Elaborate on ant two kinds of Product Mix Pricing Strategies?
Ans: Two kinds of Product Mix Pricing Strategies is Product line pricing and Optional product pricing.
16. Explain what is Third Party Logistics (3Pls). What are the benefits of 3Pls to the company?
Ans. Third party Logistics is an independent logistics provider that performs any or all of the functions required to get their client’s product to market. Companies use third party Logistics providers for several reasons first, because getting the product to market is their main focus ,these providers can often do it more efficiently and at lower cost.
17. Discuss the concept of Retail Stores as ‘Communities’ or ‘Hangouts’?
Ans: Retailers don’t create communities only in their brick and mortar store many also build virtual communities on internet .
18. Explain the need for Integrated Marketing Communications.?
Ans: The shift toward a richer mix of media and communication approaches poses a problem for marketers consumer today are bombarded by commercial messages from a broad range of source.
19. Discuss any four Public Relations tools?
Ans: Public Relations tools Include annual reports, brochures, articles, and company newsletters and magazines.
20. What are the advantages of Personal Selling?
Ans: At one extreme, a salesperson might be largely an order