Product development does not just happen, it has to be planned. Dynamic firms plan their innovations for five to ten years in advance. They have a definite idea of exactly what product developments they want and what new product they will need to cater to the demands of their customers. Experience has proved that those firms which are most successful [...]
Some of the factors affecting price determination are: 1. Product Cost 2. The Utility and Demand 3. Extent of Competition in the Market 4. Government and Legal Regulations 5. Pricing Objectives 6. Marketing Methods Used and a Few Others. Factors Affecting Price Determination Factors Affecting Price Determination – 6 Factors Fixation of price is an important exercise for every firm. [...]
The term Marketing Environment refers to the market surroundings which affect the decisions related to the marketing activities and strategies. "Marketing Environment can be defined as various internal (Micro) and external (Macro) factors under which marketing functions take place." According to Philip Kotler, "marketing environment refers to "external factors and forces that affect the company's ability to develop and maintain [...]