Class notes
Business Studies: Marketing
- Course
- Business Studies
- Institution
- 11th Grade
-These notes on marketing for business studies assisted me in achieving an 87% score on a class test
[Show more]
Seller
Follow
Content preview
Marketing:What is it?
~All activities that impact on the image of the business and customer decision to buy/not
to buy product
7P’s of marketing:
● Price
- Drives customer loyalty
- Sales —-> Cash flow
- Convenience
- Competitive advantage
- Price sensitivity: Make sure price matches the socio-economic status
of the customers/target market
Pricing strategies:
1. Penetration
- Think about the product life cycle
- Looking to catch some market share
- Problem: Customers are already loyal to a specific product
- You must give consumers a reason to change their product ( it can
be done through pricing by making it cheaper)
- Adv: Business is driving sales
- Disad: Loss of profit, because you are setting prices too low
- As product start to grow & brand loyalty has been achieved, the price
of product can be increased since consumers are hunting for this
product
2. Skimming
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller theecutesydemurestudent. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R139,33. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
53340 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now