Download A handbook of management techniques : a comprehensive guide by Michael Armstrong PDF

By Michael Armstrong

Designed for simple reference, this better half for managers and scholars contains a variety of attempted and demonstrated instruments along new administration suggestions which have been built within the contemporary previous. summary: Designed for simple reference, this better half for managers and scholars contains a diversity of attempted and demonstrated instruments along new administration options which have been built within the fresh earlier

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The decision will be influenced by the following factors: ᔢ Company resources, which will determine the extent of coverage that is achievable. ᔢ Product and market homogeneity – the more homogeneous the product or market, the greater the pressure for undifferentiated targeting. ᔢ Product stage in the lifestyle – it might be appropriate to go for wide coverage in the initial stages and to target specific segments as the product matures. ᔢ Competitors’ segmentation strategies – the company may wish to target market segments neglected by competitors.

Sales above this point will be profitable; below this point a loss will be incurred. Break-even analysis concentrates attention on the likely profit or loss that may be incurred by alternative pricing strategies. It is therefore an essential technique for selecting the best policy, as long as sufficient attention is paid to the demand curve. Unless the elasticity of demand (the impact of price changes on sales) is taken into account, break-even analysis can be misleading. Target pricing Target pricing techniques are based on break-even analysis.

It can be described as procedures and information sources used by managers to obtain daily information about developments in the marketing environment. Marketing and other company staff come across information that may seem inconsequential but that might be of use in marketing planning. This includes reports of sales visits from members of the field sales force, which can include such matters as market developments, competitive products, prices and concessions and future customer purchasing plans.

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