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Pricing Strategy For New Products

January 6, 2017
Article
Pricing strategies usually modify as a product passes in its product life cycle. The introductory stage of any product is especially challenging. Companies bringing out with a new product, face the challenge of setting price in the beginning. They can choose between two broad strategies. One is market-skimming pricing and the other one is market-penetration pricing. These two strategies play very important in fixing price of new product. It is very crucial thing to fix right price which can be affordable for consumer and beneficial for marketers. Market-Skimming Pricing Market-skimming pricing is fixing a high price for a new commodity to skim maximum returns layer by layer from the segments ready to pay the high price; the firm makes fewer but more profitable sales. Several businesses that invent new products set initially high prices to skim revenues. Sony frequently uses market-skimming strategy. In 1990, when Sony introduces the world’s first

Benefits Of Integrating QuickBooks And VTiger

January 6, 2017
Article
While doing business you interact with a number of different parties which act as a different stakeholder and directly or indirectly offer something to our business in return of some benefits. When a business is interacting with a range of diverse people in order to cater them all firm has to perform different activities and one of such activity is managing financial and accounting side of the business. Payrolls play an important function in every business, using this tool you have to develop schematic according to which you pay to your employees and it is one of the most prominent function that your human resource department performs. Furthermore, another function which requires an immense amount of effort is invoicing (charging customers), it is an area where business faces serious struggle. In the current business environment, a number of different software is offered by diverse developers to provide you a better

Competitive Advantages For Product Positioning

January 6, 2017
Article
Competitive advantage is a profit over competitors gained by offering customers great value, either through lower cost or by providing more benefits that justify their higher prices. To build beneficial relationship with target customers, marketers must understand the customers’ needs better than their competitors do and deliver more value to them. Furthermore, a company can position itself as providing superior value to its customers, it gains competitive advantage. But strong positions cannot be built on empty promises. If any company places its product as offering the best services and quality, it must then provide the promised quality and services to their customers. Thus, in fact, positioning initiates with differentiating the marketing plan of a company offer so that it will provide superior values to the consumers Marketers should think through customers’ entire experience with the company’s good and services if they want to know about differentiation. A smart company always