Joint Product | Meaning | Characteristics | Objectives
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, scrap, …
Tag: product management
Inventory Valuation | Responsibility of Management
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, it …
Classification of products | Types | Categories
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 classifying …
Important product levels in marketing
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 a …
Sales policy and Product Policy decision in marketing
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”. Essentially, …
Product Design Strategy in marketing
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 with …