Marketing

What are Geographic Variables

GEOGRAPHIC VARIABLES

Geographic variables include territories such as nations, provinces, states, regions, countries, cities, or neighborhoods of your customers.

Where do your customers live? To answer this question you need to determine what nations, provinces, states, regions, countries, cities or neighborhood will your product be available? In other words, where will you sell your product or service.

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Pricing using the Markup Method

1.   MARKUP PRICING

Markup pricing is very common among manufacturers, wholesalers, retailers, and service providers, largely due to its simplicity. The markup pricing method, calculates all the costs of purchasing or producing the product and then adds a desired markup to it.

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Perceived Value Pricing

3.   PERCEIVED VALUE PRICING

Companies using a perceived valued pricing approach will set its prices based on what consumers are willing to pay ( IE the price at which consumers feel the product is worth).

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Pricing using Break-even Point

2.   BREAK-EVEN PRICING

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The Importance of Defining Your Product

What is Your Product or Service

A bottle of Coca-Cola, the Internet, a haircut, a cup of coffee, a General Motors car, an IBM computer, Corel WordPerfect, a taxi ride, a Garth Brooks concert, and a daycare are all considered products.

A product is something that can be offered in an attempt to satisfy a want, need, interest, or desire. When the term "PRODUCT" is used, it generally refers to physical objects, services, persons, places, organizations and ideas.

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What are Psychographic Variables

PSYCHOGRAPHIC VARIABLES

In Psychographic Segmentation, customers are divided into groups based on their social class, life style and personality. Below depicts examples of Psychographic Segmentation Variables; beginning with personality.

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Ways to Set Prices for Products & Services

Setting Prices for Products & Services

A price is known as the amount of money a seller charges for a product or service. The asking price is not always the amount of money the seller will receive for their products or services. Many consumers are becoming better negotiators which mean they tend not to pay the price appearing on the item. Therefore, price can also mean the amount of money consumers pay for a product or service.

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Target Marketing and Your Markets

Target Markets:

 

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Ways to Promote a Product or Service

Promoting Your Products and Services


Below discusses various ways to promote your products, services and overall business.  For your convenience, this section has been arranged in the following manner:

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What are Behavioristic Variables

BEHAVIORISTIC VARIABLES

Behavior variables involve end consumer's knowledge, attitude and use of your product or service. Important factors within these units include; occasions, benefits sought, user status, usage rate, loyalty status, readiness stage and attitude toward the product.

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