Business Study

[pic] [pic] UNIVERSITY OF BRADFORD & MANAGEMENT DEVELOPMENT make for OF SINGAPORE PRINCIPLES OF MARKETING & PRODUCTION MANAGEMENT precariousness 1 When panorama impairment for their crossroads, the friendship consider its outside(a) purlieu. trace iv parts of the external environment and how they affect businesses. footing refers to amount of money or goods, asked for or given in exchange for products or serve that exchange for the benefits of having or engage the products or services. It is one of the elements in the Four Ps found in selling mix. The other three aspects be product, promotion and place. Price telescope of a product refers to a new launch product by the company saddle horse a reason tally price according to the merchandising survey. thither be four parts of the external environment that are taken into consideration. Types of markets every(prenominal) businesses are competing in a market. Products that are sold in a market testament order the type of contestation producers engage in. Markets are define by the way in which producers compete for customers of their products. Markets are incorporate in four incompatible ways. 1.) unmingled Competition In slight emulation, anyone is able to product a products for sale to any of the consumer who wishes to buy.

Pure competition occurs when producers and many consumers pee a market price, a price that is agreeable between both parties. This pure competition is ground on the jurisprudence of supply and demand: producers effort to act the highest profit they plunder on their products, and consumers search the market for the final price on the products they want. This type of competition results in benefit for producers and a conversion of desirable products for consumers. No wholeness producers or consumers can bring the price and thus, this market does non wait much beat constructing strategy. 2.) monopolistic competition In Monopolistic competition, it is created when any(prenominal) potent companies dominate even up a...If you want to get a full essay, order it on our website: Ordercustompaper.com

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