Pricing is the basic tactic adopted by the companies to attain their objectives. However, it is also the most complex of the tactics to be pursued by marketers. Too high a price could dissuade buyers away from the product and get attracted to competitive offers while a price that may be perceived as too low may cause buyers to doubt its quality and value. Contrary to popular perception, price is not calculated on the basis of cost plus a reasonable profit. It is based on the brand image created in the consumer minds and a level the market is willing to bear.
Other businesses purchase products from bayer and it is the duty of the employees to make sure that the products that they sell are very high in quality. Employees help impact the objectives of the business because without them, Bayer will be unable to sell high quality products or maybe even no products at all. Employees impact the quality of the products and the services that the business provides. In return of their services, they
Advertising is one thing which has become a necessity for everybody in today’s day to day life, be it the producer, the traders, or the customer. Advertising is an important part. The importance of Advertising are: 1) “Advertising is important for the customers Advertising plays a very important role in the life of the people in todays era.Customers are the people who buy the product only after they are made awareabout the products and services available by the company. If the product is not advertised, no one will know about the product and thus no one will buy it even if the product is beneficial. Another feature of advertising is that it helps the people distinguish between what is right and what is wrong for them.
This is because unreasonable customers may cause overconsumption of finite resources of the company. Resources such as time, money and energy that are dedicated to customer services are limited and an unreasonable customer or client use the majority of the resources. According to Fader (2011), the author of Customer Centricity, business owners should make a high priority to the right customers as not all customers deserve their best efforts. This ensures that only ‘good’ customers are given a priority in dealing with the business owners. He emphasizes the need to focus directly on the needs of the most valuable customers to increase profits in the long run.
Abstract Motivation is an inner strength that motivates a person to move toward a personal or structural goal. There are pros and cons to everything, especially in business and having a manager position. Companies are willing to invest in motivating their employees because in the end it affects the organization. Therefore, the problem is organizations not being able to distinguish the signs of workers that are un-motivated and consequently know that something is wrong. Despite companies knowing the importance of having a motivated workforce, many continue to deliberately ignore it and as a result they pay the price Leadership and Motivation For various companies having a motivated workforce is not usually a priority because the expenses associated with it, for example bonuses or company outings.
Outcomes that really matter, such as greater financial well-being of the consumer, cannot be achieved by single actions and in this respect check on the nudges. Monitoring and aggregating user behaviour over lengthy period of time is one of the way to understand user and generating nudge. Despite numerous examples of successful nudges, it is difficult to get it right and hence there are lot reasearch still going over it. If they are too weak, they won’t produce any measurable influence on consumers. https://hbr.org/2016/04/why-nudging-your-customers-can-backfire 6.
To be able to get low prices companies have to deal with their own costs of production, storage, taxes and shareholders’ requirements about performance that’s why they are often choosing a maximizing way to be sustainable and profitable over the time. Profitability can only be reached by answering consumer’s expectations about the products or service which includes key element like manufacturing it, control of the supply chain, transportation, delivering resources, return policy, etc. Because there are a lot of definition and interpretations of what CSR is, it is hard to establish a frame and that’s why it is important for businesses to clarify the nature and the implications of CSR in their business field. Is CSR about respecting the law and the different regulations as it is supported by Milton Friedman or does it mean to go deeper in the subject and integrate the different stakeholders of the company and their place in the business. Implementing CSR practices in companies’ strategies is often the results of high investments and so there is a big economic impact for
To know about the customer-perceived value is to know about the difference between the benefits customers would get and the cost they would assume which can be for different reasons and choices. Marketers play a role in this saga as they can increase value of the customers offering through functional, emotional and economic benefits which can reduce costs through the process. Customers’ feelings of satisfaction or disappointment can be compared to how well a product has performed to the customers’ expectations. Products might not meet customer’s needs and so one can say there are negative effects on the product. Due to negative effects customers might not want to buy product.
This issue is because of the lack of unique resources and distinctive capabilities which would help Quik Chik to develop a sustained competitive advantage. Solution 1 Quik Chik should develop unique resources in terms of financial, physical or intangible. It should work to build its strong brand image and associate brand resonance with its customers. It should work on its human capital by giving challenges, daily tasks, monthly check lists of assigned duties etc.
A company without customers will not able to attempt for their goals, qualified works, high quality of raw materials proper production, a loss will still be made due to lack of consumers. In order for the Kfc Company to not lose their customers they should be loyal. They should make sure that they satisfy their customer with the product and services demanded by them. If a company will not do all those it will lose all its customers, with other competitors with similar services might win them. Moreover, the company should have good relationship with the customers so as to avoid false statement that may loss the company’s reputation.