Explanation

(a) Channels of Distribution for Consumer Products

• Manufacturer -Consumer
• Manufacturer- Wholesaler - Consumer
• Manufacturer-Retailer -Consumer
• Manufacturer - Wholesaler - Retailer -Consumer
• Manufacturer-Agent- Wholesaler- Retailer-Consumer
• Manufacturer-Distributor - Wholesaler-Retailer-Consumer
• Manufacturer -Agent- Consumer.

(b) Explanation of Four Pricing Strategies:

• Cost: Plus pricing method/markup pricing strategy: With this method, the firm calculates cost of producing the product and adds a percentage profit to get the price.
• Geographical pricing: With this method, different prices are set for the same product n different locations.
• Prestige pricing: This is used to create a high image for a product by pricing it high. For most people, a high quality product must be associated with high cost.
• Customary Pricing: This is where firms are rather traditional in their approach to prices. Such firms would adjust the products in terms of size and content rather than changing the prices.
• Promotional pricing: It is setting a lower price for certain products to encourage customers to buy the product.
• Target rate-of-return: The price is set by adding a desired return on investment to the cost product.
• Premium pricing: This is setting higher than competitors during the introduction the product.
• Market penetratior: This is Setting price lower than competitors to attract buyers
• Psychological pricing: The price is set so as to encourage customers to buy a product on the basis of emotion than logic.
• Price lining: This is setting of different prices for products within a specific group.
• Price leadership strategy: This is setting a product price at a level of the market leader's price.
• Loss leadership strategy: This is setting a price below cost so as to attract prospective buyers to buy other products in the shop.
• Competitive bidding pricing strategy: This is setting a price at the lowest offer of a bidder in relation to other bidders.

• If the power of a lens is +2.5D. Calculate the radius of curvature (a). 80cm (b). 40cm (c). 25cm (d).... Answer this

  1 Answers   ·   Physics   ·   3 days ago
• Subjects to learn under petroleum engineering? Answer this

  1 Answers   ·   3 days ago
• what is the cut of mark for medical doctor in university and list all the university? Answer this

  1 Answers   ·   1 day ago