What are Joint Products? In a manufacturing process, a raw material may be converted into finished product. During the process of conversion, there is an emergence of waste,
Inventory Valuation Inventory valuation plays an important role in determining the profits of present and succeeding years of a company. For example, if the closing stock is overvalued,
Classification of products Products are classified on several bases. Users, types of products, manner of purchasing and life span of goods are some of the important framework for
Need for product levels in marketing In order to give benefits to customers, a marketer articulates the product concept. The product concept defines the whole range of benefits
In the 20th century, the role of marketing in the success of a business cannot be underestimated. The sole purpose of a business is “To create a customer”.
Product distinction may be achieved and maintained through frequent changes in product design. In this regard, marketing executives have to take two important policy decisions viz., The frequency