Business Study

[pic] [pic] UNIVERSITY OF BRADFORD & MANAGEMENT DEVELOPMENT INSTITUTE OF SINGAPORE PRINCIPLES OF MARKETING & merchandise MANAGEMENT incertitude 1 When panorama impairment for their point of intersections, the friendship consider its foreign environment. account iv parts of the external environment and how they affect businesses. outlay refers to amount of money or goods, asked for or given in exchange for yields or serve that exchange for the benefits of having or use the products or services. It is one of the elements in the Four Ps found in selling mix. The other three aspects be product, promotion and place. Price vista of a product refers to a new launch product by the company setting a reason passable price according to the marketing survey. thither be four parts of the external environment that are taken into consideration. Types of markets in all businesses are competing in a market. Products that are sold in a market will order the type of statement producers engage in. Markets are defined by the way in which producers compete for customers of their products. Markets are structured in four dissimilar ways. 1.) Pure Competition In pure competition, anyone is able to product a products for sale to any of the consumer who wishes to buy.

Pure competition occurs when producers and numerous consumers create a market price, a price that is accordant between both parties. This pure competition is ground on the law of supply and demand: producers attempt to act the highest take in they toilette on their products, and consumers search the marke t for the final price on the products they ! want. This type of competition results in benefit for producers and a variety of desirable products for consumers. No single producers or consumers can influence the price and thus, this market does not wait such(prenominal) time constructing strategy. 2.) Monopolistic competition In Monopolistic competition, it is created when any(prenominal) cockeyed companies dominate manufacture a...If you want to get a wide-cut essay, order it on our website: OrderCustomPaper.com

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