Location of services
Location of services- Services can be categorized based on their location in various ways: Physical Locations: These are services that require a physical presence, such as: Retail stores Restaurants and…
Channel functions and flow organization patterns in hospitality marketing channels
Channel functions and flow organization patterns in hospitality marketing channels- In hospitality marketing channels, the functions and flow organization patterns play crucial roles in ensuring effective distribution and communication with…
Scope of distribution
Scope of distribution- The scope of distribution refers to the extent or range within which a product, service, or information is made available to its intended audience or users. It…
Distribution
Distribution- "Distribution" can refer to several concepts depending on the context: Statistical Distribution: In statistics, a distribution refers to the pattern of values that a variable takes within a dataset.…
Cost oriented pricing strategies
Cost oriented pricing strategies- Cost-oriented pricing strategies focus on setting prices primarily based on the costs of producing and delivering a product or service. These strategies ensure that all costs…
Initiating price changes
Initiating price changes- Initiating price changes in a business involves a series of steps to ensure that the new pricing is effectively communicated, justified, and implemented. Here’s a comprehensive guide…
Prices techniques
Prices techniques- Pricing techniques are strategies and methods used by businesses to determine the best price for their products or services. Effective pricing techniques can help a company maximize profits,…
Influences upon prices decision making
Influences upon prices decision making- Price decision making is influenced by a variety of factors, both internal and external to the organization. Here are some key influences: Costs: Internal factors…
Principles of prices
Principles of prices- The principles that govern prices in economics can be summarized as follows: Supply and Demand: This is perhaps the most fundamental principle of pricing. Prices are determined…
Price
Price- Prices can be classified into several types based on various criteria. Here are some common classifications of prices: By Nature of Transaction: List Price: The price set by the…
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