Banking Management - Explain Briefly the Product Life Cycle Concept with Reference to a Banks Product Selection Development and Launching a Product Are Equally Important Comment

In Section 2, you learned about costs and profit. Now, you'll apply what you learned.

Question: Outline the marketing process and explain the importance of each element of the marketing plan.

3.3 How is the standard price used in the accounting system? (Think about what you did in your cost/managerial accounting class.)

10. What are the effects of electronic transactions and banking upon the industry and/or monetary policy? Have innovations created greater or less efficiency? What has been the role of the Federal Reserve?

D. defining some broad product-markets where you may be able to operate profitably 17) The product life cycle

(TCO 10) How is a transfer price determined? Describe the cost-based method. Do you think it is better than the market-based method?

The impact of product life cycle on marketing is that corporations must always plan products and offerings according to the life cycle. Especially in the durable goods market like motorcycles it is imperative than a manufacturer know the product life cycle in order to maintain market share or grow. In order to maximize life cycle revenues the company must maximize revenues and profits from all sources including warranties, spare parts, and accessories. Service is an integral part of a long product life cycle.

When I write an assignment, three things are constant; the technology I use (smartphone and laptop computer), the beverage I drink (hot chocolate ), and the location I do my writing (the living room in my house). I am using the final assignment for the course “Introduction to Business” to describe my writing process. In this paper I needed to discuss every aspect of a product, from the manufacturing to the purchase of the final product by the customer.

Briefly relate this situation to each of the major stages of the marketing research process?”

i. Why was Dakota’s existing pricing system inadequate for its current operating environment? (Hint: Consider why ABC might be a good idea)

Describe and give examples of some of the following types of pricing objectives: profit, market share, competitive effect, customer satisfaction, and image enhancements.

Thus, each bank needs to differentiate their product offers to customer, strengthen their portfolio, and improve services, etc depending on its strategies.

Introduction to the lesson: you will look at the product life cycle and how marketing may change at different stages. Then you will consider the decline stage and how firms such as Kellogg’s may react to this.

Technological advancement has had a gigantic effect in the banking industry. Over the past few decades, the financial services industry has changed considerably with banking transforming from the pen and paper method to the computers and internet method. The pen and paper method took weeks or even months for the transaction to be eventually completed, and then the dramatic introduction of the computer and internet method which changed that time frame to only a matter of seconds to be completed, which reduced the amount of time and labor needed to complete a transaction significantly. Banking is considered one of the most important economic sectors with it being severely influential and responsive to any little change, whether it is domestic or international. Some extreme changes that were brought about by the development of this new technology turned into a globalized nature for the financial services industry. One stroke of a key on a computer could and would change a person 's life extensively or even have a global impact. The new technologies that were created and introduced changed how the consumers managed their money from that time on. Technology has helped to protect peoples’ hard earned money and make it much more impossible for people to be able to write out bad checks or even holding up a bank. The advancement in technology however, also came with some security risks as most things do, that could affect the money that people trusted with the bank and

There are several methods of setting transfer prices among profit centers within the same organization. Each profit center tries to set transfer prices which maximize their own profit. The buying and selling profit centers’ profits are largely affected by transfer prices. For example, when a high transfer price is charged, the selling division’s profits increase, while the buying division’s costs increase. So, transfer pricing should be established on a reasonable and objective basis, which should maximize the companywide profit, rather than being based on