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The more different the products of rival firms are, the lower the cross effects between their markets with regards to both non-price and price variables. [6] By offering a wide range of products, firms can not only achieve economies of scope, but also be able to expand their market base.
Customers usually associate high quality with a product that exactly meets its requirements. All products and services involve specifications of some sort. When products are developed, these specifications are set and a target is set, for instance the materials used or the dimension of the product.
A business alliance is an agreement between businesses, usually motivated by cost reduction and improved service for the customer. Alliances are often bounded by a single agreement with equitable risk and opportunity share for all parties involved and are typically managed by an integrated project team.
A strategic alliance is an agreement between two or more players to share resources or knowledge, to be beneficial to all parties involved. It is a way to supplement internal assets, capabilities and activities, with access to needed resources or processes from outside players such as suppliers, customers, competitors, companies in different industries, brand owners, universities, institutes ...
Quality management ensures that an organization, product, or service consistently functions as intended. It has four main components: quality planning, quality assurance, quality control, and quality improvement. [1] Customers recognize that quality is an important attribute when choosing and purchasing products and services.
Alliance marketing is joining two or more organizations on the purpose of sharing marketing strategy, promoting concepts, services or products. [1] Basically, alliance marketing can imply to any business as long as it finds an organization that has a mutual goal. [2] Alliance Marketing is similar to Joint Venture Marketing. [3]
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Value in marketing, also known as customer-perceived value, is the difference between a prospective customer's evaluation of the benefits and costs of one product when compared with others. Value may also be expressed as a straightforward relationship between perceived benefits and perceived costs: Value = Benefits - Cost .