The Characteristics of Convenience,shopping,specialty and Unsought Goods Play a Major

question 77

Essay

The characteristics of convenience,shopping,specialty and unsought goods play a major role in determining the marketing mix for products in each of these categories.Briefly describe the distribution and pricing ramifications of each type of product.Which channel member(s)is / are most likely to bear the brunt of the promotional burden for each?

Describe the characteristics and appropriate use of the question close.

Learn the strategic application of the compliment close in dealing with various types of customers.

Evaluate the effectiveness of summary-of-benefits and continuous-yes closes.

Understand the importance of customer perspective in closing sales.

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Definitions:

Midpoint Formula

A method used to calculate the elasticity of demand or supply by averaging the start and end points of a range.

Price Elasticity

A gauge for the sensitivity of the amount of a good that is demanded or offered to alterations in its pricing.

Quantity Supplied

The amount of a particular product that a firm would be willing and able to offer for sale at a particular price during a given time period.

Elasticity of Labor Supply

A measure of the response of labor supplied to a change in the price of labor.