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Designed particularly with revision in brain, the CIM Revision playing cards offer concise, but primary details to help scholars in passing the CIM assessments as simply as attainable. a transparent, rigorously dependent format aids the training strategy and guarantees the foremost issues are lined in a succinct and available demeanour. The compact, spiral sure structure allows the playing cards to be carried round simply, the content material accordingly continually being available, making them valuable assets irrespective of the place you're. gains reminiscent of diagrams and bulleted lists are used all through to make sure the main issues are displayed as essentially and concisely as attainable. each one part starts off with a listing of studying results and ends with tricks and assistance, thereby making sure the content material is damaged down into practicable innovations and will be simply addressed and memorised Written in particular for revision reasons hence purely that includes the foremost techniques that have to be realized * conscientiously designed to let issues to be simply extracted and memorised with out clouding them in more details * Accompanies the CIM Coursebook and MarketingOnline web site to supply a whole suite of goods to help the CIM skills

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This is typical for luxury products during the introduction phase. å Sunk cost: In some textbooks, advertising is given as a variable expense; however, this is not so. A perfume company may spend many millions of pounds launching a new perfume; this money is committed or ‘sunk’ before any perfume is sold and thus is entirely independent of sales achieved. å Value: This is the amount of money people are prepared to pay for an object or service. This need not have any relationship to the physical costs of delivering of product or service.

Levels of Product. 3 shows the customer value hierarchy framework. At lower levels customers are provided with what they expect; all providers must supply this. To gain a competitive edge, something of benefit and value to the customer, above and beyond the expected benefit set, must be provided. This is not static since customers’ expectations grow; the ultimate product is that which satisfies the dream needs of the customer. MARKETING IN PRACTICE 51 INTEGRATED MARKETING MIX: PRODUCT 52 Type of Product n Potential product: This form of the product is the ‘potential product’, which encompasses all the augmentations and transformations that the product might ultimately undergo in the future.

N Increasingly, companies are reaping the benefits of flexible, international production with close control by working with an alliance of contract manufacturing partners. Where part of the product is high value and other parts lower value and more bulky, local assembly may be the best solution. g. legal reasons), strategic alliances may provide an option. n In developing the strategy, the marketing mix and other business aspects, such as logistics, need to be addressed. The precise entry strategy selected will depend on issues such as profitability, the amount of capital required, the relative cost structures and levels of risk.

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