MODULE 7 MARKET

It is the explicit communication strategy adopted by an enterprise to elicit the patronage, loyalty, and support from its customers and stakeholders

It is designed to capture market share and defeat competitors

They are the one who made a marketing strategy, sell and push the product to the right market

It is the tangible good or the intangible service that the enterprise offers to its customers in order to satisfy their needs

This pricing may be given to loyal and regular customers to maintain their patronage

It charges a price that allows the organization to merely recover its full costs, and to reinvest the sales proceeds to produce additional products.

There are general types of products that are marketed by enterprises, except:

It identifies the product, describes its features and benefits, and it provides easy brand identification for the consumers.

It sets the price higher than the variable costs of a product but lower than the full costs in order to increase overall profitability

It is the major factor for the customer in buying a product.