Product Life Cycle, Distribution, and Economic Structure of a Company
CMO Variable Product MK-Mix
Product
A product or service is successful when consumer purchases meet their needs. Therefore, the product policy acquires vital significance. The basic utility of a product provides formal and tangible value, as well as added value.
Product ID
Brand recognition identifies and allows the product to be distinguished by a word, name, or symbol. A company may have several brands: individual, family, national, or distributor.
Qualities of a Brand:
- Easy to remember, identify, and
Intangible Assets, Cash, and Inventory
Item 7: Intangible Assets, Cash, and Financial Instruments
Intangible Assets
Registration
- Development expenditure included in the relevant register increases property values.
- Development costs are assumed to have a useful life of 5 years.
- Industrial property can have an indefinite useful life.
- Goodwill recognition requires payment during a business combination.
- Recognized goodwill impairments are irreversible.
- Goodwill should be allocated to cash-generating units upon recognition.
- A defined capitalization
Field Marketing Strategies and Demand Forecasting
Field Marketing
Marketers
Are the people or organizations who want to trade.
Market
Any individual or group of persons with whom an individual or group of individuals may have an exchange relationship. The essence of marketing is a transaction or trade.
Conditions for a Marketing Exchange
- Two or more social units must have needs to satisfy.
- The parties must participate voluntarily.
- The parties must contribute something of value in exchange and be convinced that it will benefit.
- The parties must have opportunities
Physiocracy: The 18th-Century Economic Theory Explained
What is Physiocracy?
Physiocracy was an 18th-century economic theory that emphasized the importance of agriculture and land as the primary sources of wealth. Physiocrats believed in a natural law governing economic performance, independent of human will, but which could be studied and used for human benefit. They asserted that if there were no government intervention, the economic system would function properly. This belief stemmed from their view that only agriculture produced a surplus beyond
Read MoreUnderstanding the Financial System and Monetary Policy
The Financial System
The financial system encompasses laws, institutions, assets, and markets that channel savings into investments. It involves institutions mediating between those offering and those demanding financing.
Financial Intermediaries
These institutions receive money from savers and lend it to those needing funds. They facilitate the flow of savings between savers and investors, charging interest to borrowers and paying interest (at a lower rate) to savers.
Financial Assets
Assets represent
Read MoreAccounting Principles and Practices
Objectivity
Changes in assets, liabilities, and equity are to be booked as soon as possible to objectively measure these changes.
Prudential Criteria
The measurement of resources and accounting obligations requires incorporating estimates to distribute costs, expenses, and revenues over relatively short periods and between different activities. Preparing financial statements requires a prudent approach when selecting the basis for decisions. This involves choosing the most conservative option among
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