Describe the Steps Involved in Bargaining

question 48

Essay

Describe the steps involved in bargaining.

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Definitions:

Product Characteristics

Specific attributes or features that define a product, such as quality, functionality, and design, which can influence consumer purchase decisions.

Marketing Mix

The combination of factors that can be controlled by a company to influence consumers to purchase its products, traditionally identified as product, price, place, and promotion.

Promotion

Activities and strategies designed to increase awareness, sales, or acceptance of a product, service, or idea.

Personal Selling

A sales technique involving face-to-face interaction with customers to understand their needs and offer solutions accordingly.