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Customer Cost
Customer cost refers not only to the price of a product, but it also encompasses the purchase costs, use costs and the post-use costs. Purchase costs consist of the cost of searching for a product, gathering information about the product and the cost of obtaining that information. Usually, the highest use costs arise for durable goods that have a high demand on resources, such as energy or water, or those with high maintenance costs. Post-use costs encompass the costs for collecting, storing and disposing of the product once the item has been discarded. Total consumer cost in contrast to price The term price usually refers to the amount of money charged for a product or service.Kotler, P. and Armstrong, G. (2004), The Principles of Marketing, 10th edn, Upper Saddle River, NJ: Prentice Hall, p. 345 It represents the payment made by the consumer and received by the producer when the ownership of the product or service is transferred from the seller to the buyer. The price of a pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price
A price is the (usually not negative) quantity of payment or compensation given by one party to another in return for goods or services. In some situations, the price of production has a different name. If the product is a "good" in the commercial exchange, the payment for this product will likely be called its "price". However, if the product is "service", there will be other possible names for this product's name. For example, the graph on the bottom will show some situations A good's price is influenced by production costs, supply of the desired item, and demand for the product. A price may be determined by a monopolist or may be imposed on the firm by market conditions. Price can be quoted to currency, quantities of goods or vouchers. * In modern economies, prices are generally expressed in units of some form of currency. (More specifically, for raw materials they are expressed as currency per unit weight, e.g. euros per kilogram or Rands per KG.) * Although ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price Premium
Price premium, or relative price, is the percentage by which a product's selling price exceeds (or falls short of) a benchmark price. Marketers need to monitor price premiums as early indicators of competitive pricing strategies. Changes in price premiums can also be signs of product shortages, excess inventories, or other changes in the relationships between supply and demand. In a survey of nearly 200 senior marketing managers, 54 percent responded that they found the "price premium" metric very useful.Farris, Paul W.; Neil T. Bendle; Phillip E. Pfeifer; David J. Reibstein (2010). ''Marketing Metrics: The Definitive Guide to Measuring Marketing Performance.'' Upper Saddle River, New Jersey: Pearson Education, Inc. . The Marketing Accountability Standards Board (MASB) endorses the definitions, purposes, and constructs of classes of measures that appear in ''Marketing Metrics'' as part of its ongoinCommon Language in Marketing Project Purpose Although there are several useful benc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sustainable Products
Sustainable products are those products that provide environmental, social and economic benefits while protecting public health and environment over their whole life cycle, from the extraction of raw materials until the final disposal. Scope of definition According to Belz, Frank-Martin., the definition of sustainable product has six characteristics: * Customer satisfaction: any products or services that do not meet customer needs will not survive in the market in a long term. * Dual focus: compared with purely environmental products, sustainable products focus both on ecological and social significance. * Life-cycle orientation: sustainable products are environmentally-friendly throughout their entire life. That is, from the moment the raw materials are extracted to the moment the final product is disposed of, there must be no permanent damage to the environment. * Significant improvements: sustainable products contribute to dealing with socio-ecological problems on a global lev ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Figure 4 Change In Competition
Figure may refer to: General *A shape, drawing, depiction, or geometric configuration *Figure (wood), wood appearance *Figure (music), distinguished from musical motif *Noise figure, in telecommunication *Dance figure, an elementary dance pattern *A person's figure, human physical appearance Arts *Figurine, a miniature statuette representation of a creature *Action figure, a posable jointed solid plastic character figurine *Figure painting, realistic representation, especially of the human form *Figure drawing *Model figure, a scale model of a creature Writing *figure, in writing, a type of floating block (text, table, or graphic separate from the main text) * Figure of speech, also called a rhetorical figure *Christ figure, a type of character * in typesetting, text figures and lining figures Accounting *Figure, a synonym for number *Significant figures in a decimal number Science * Figure of the Earth, the size and shape of the Earth in geodesy Sports *Figure (horse), ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
IKEA
IKEA (; ) is a Dutch multinational conglomerate based in the Netherlands that designs and sells , kitchen appliances, decoration, home accessories, and various other goods and home services. Started in 1943 by Ingvar Kamprad, IKEA has been the world's largest furniture retailer since 2008. The brand used by the group is derived from an acronym that consists of the founder's initials, and those of Elmtaryd, the family farm where he was born, and the nearby village Agunnaryd (his hometown in Småland, southern Sweden). The group is primarily known for its modernist designs for various types of appliances and furniture, and its interior design work is often associated with simplicity. In addition, the firm is known for its attention to cost control, operational details, and continuous product development that has allowed IKEA to lower its prices by an average of two to three percent. , there are 422 IKEA stores operating in 50 countries and in fiscal year 2018, €38.8 bil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market Structure
Market structure, in economics, depicts how firms are differentiated and categorised based on the types of goods they sell (homogeneous/heterogeneous) and how their operations are affected by external factors and elements. Market structure makes it easier to understand the characteristics of diverse markets. The main body of the market is composed of suppliers and demanders. Both parties are equal and indispensable. The market structure determines the price formation method of the market. Suppliers and Demanders (sellers and buyers) will aim to find a price that both parties can accept creating a equilibrium quantity. Market definition is an important issue for regulators facing changes in market structure, which needs to be determined. The relationship between buyers and sellers as the main body of the market includes three situations: the relationship between sellers (enterprises and enterprises), the relationship between buyers (enterprises or consumers) and the relationship be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Recycling
Recycling is the process of converting waste materials into new materials and objects. The recovery of energy from waste materials is often included in this concept. The recyclability of a material depends on its ability to reacquire the properties it had in its original state. It is an alternative to "conventional" waste disposal that can save material and help lower greenhouse gas emissions. It can also prevent the waste of potentially useful materials and reduce the consumption of fresh raw materials, reducing energy use, air pollution (from incineration) and water pollution (from landfilling). Recycling is a key component of modern waste reduction and is the third component of the " Reduce, Reuse, and Recycle" waste hierarchy. It promotes environmental sustainability by removing raw material input and redirecting waste output in the economic system. There are some ISO standards related to recycling, such as ISO 15270:2008 for plastics waste and ISO 14001:2015 for enviro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reuse
Reuse is the action or practice of using an item, whether for its original purpose (conventional reuse) or to fulfill a different function ( creative reuse or repurposing). It should be distinguished from recycling, which is the breaking down of used items to make raw materials for the manufacture of new products. Reuse – by taking, but not reprocessing, previously used items – helps save time, money, energy and resources. In broader economic terms, it can make quality products available to people and organizations with limited means, while generating jobs and business activity that contribute to the economy. Examples Reuse centers and virtual exchange These services facilitate the transaction and redistribution of unwanted, yet perfectly usable, materials and equipment from one entity to another. The entities that benefit from either side of this service (as donors, sellers, recipients, or buyers) can be businesses, nonprofits, schools, community groups, and individuals. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Leasing
A lease is a contractual arrangement calling for the user (referred to as the ''lessee'') to pay the owner (referred to as the ''lessor'') for the use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial or business equipment are also leased. Basically a lease agreement is a contract between two parties: the lessor and the lessee. The lessor is the legal owner of the asset, while the lessee obtains the right to use the asset in return for regular rental payments. The lessee also agrees to abide by various conditions regarding their use of the property or equipment. For example, a person leasing a car may agree to the condition that the car will only be used for personal use. The term rental agreement can refer to two kinds of leases: * A lease in which the asset is tangible property. Here, the user '' rents'' the asset (e.g. land or goods) ''let out'' or ''rented out'' by the owner (the verb ''to lease'' is less precise because it can ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Renting
Renting, also known as hiring or letting, is an agreement where a payment is made for the temporary use of a good, service or property owned by another. A gross lease is when the tenant pays a flat rental amount and the landlord pays for all property charges regularly incurred by the ownership. An example of renting is equipment rental. Renting can be an example of the sharing economy. History Various types of rent are referenced in Roman law: rent (''canon'') under the long leasehold tenure of Emphyteusis; rent (''reditus'') of a farm; ground-rent (''solarium''); rent of state lands (''vectigal''); and the annual rent (''prensio'') payable for the ''jus superficiarum'' or right to the perpetual enjoyment of anything built on the surface of land. Reasons for renting There are many possible reasons for renting instead of buying, for example: *In many jurisdictions (including India, Spain, Australia, United Kingdom and the United States) rent paid in a trade or business is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Initial Capital Costs
In a written or published work, an initial capital, also referred to as a drop capital or simply an initial cap, initial, initcapital, initcap or init or a drop cap or drop, is a letter at the beginning of a word, a chapter, or a paragraph that is larger than the rest of the text. The word is derived from the Latin ''initialis'', which means ''standing at the beginning''. An initial is often several lines in height and in older books or manuscripts are known as "inhabited" initials. Certain important initials, such as the Beatus initial or "B" of ''Beatus vir...'' at the opening of Psalm 1 at the start of a vulgate Latin. These specific initials in an illuminated manuscript were also called initiums. In the present, the word "initial" commonly refers to the first letter of any word or name, the latter normally capitalized in English usage and is generally that of a first given name or a middle one or ones. History The classical tradition was slow to use capital letters fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
