Posts Tagged

cost

Business Strategy: Strategy Formulation

In the strategy formulation process, an organization’s directors generate a general plan of what an organization should and should not do, given its market forces and its internal resources, in order to best meet its goals. Porter’s Generic Strategies: A firm should consistently choose one of Porter’s generic strategies. The first dimension is whether you…

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An Introduction to Marketing: Price

Welcome to my fourth post on marketing. If you have not read the first three posts, I encourage you to read the introduction post and the articles on products, people, promotion, and place before reading this article. The fifth P being “Price” is extremely important in all aspects of business. From the buyer’s perspective, price determines if the product…

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