Marketing Strategies of Small Scale Industries: a Sample Survey of Hisar
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Marketing Strategies of Small Scale industries: A Sample Survey of Hisar
Mba ,Ugc Net-Jrf
Marketing strategies of Small Scale Industries: A Study of Hisar
Mba ,Ugc Net-Jrf
The aim of the paper is to study the product planning and positioning .factors influencing their price decision, selection of distribution and media channels by the small scale manufacturers in Hisar city. In the era of globalization small manufacturers are facing lot of problem in area of marketing mix such as product planning and positioning ,pricing and distribution issues. The entrepreneur’s perception relating to these various issues have been highlighted in this paper . A number of statements indicating the…show more content… Marketers can expand the current product mix by increasing a certain product line's depth or by increase the number of product lines. Marketers should consider how to position the product, how to exploit the brand, how to exploit the company's resources and how to configure the product mix so that each product complements the other. The marketer must also consider product development strategies.
The price is the amount a customer pays for the product. The price is very important as it determines the company's profit and hence, survival. Adjusting the price has a profound impact on the marketing strategy, and depending on the price elasticity of the product, often, it will affect the demand and sales as well. The marketer should set a price that complements the other elements of the marketing mix.
When setting a price, the marketer must be aware of the customer perceived value for the product. Three basic pricing strategies are: market skimming pricing, marketing penetration pricing and neutral pricing. The 'reference value' (where the consumer refers to the prices of competing products) and the 'differential value' (the consumer's view of this product's attributes versus the attributes of other products) must be taken into account.
Represents all of the methods of communication that a marketer may use to provide information to different parties about the product. Promotion comprises elements