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Scope of marketing - Essay Example
Author : grayce45
Pages 6 (1506 words)
Scope of marketing Your name Marketing March 1, 2012 Table of Content Answers to question 1 3 Answers to question 2 3 Answers to question 3 4 Annexes: Advertising samples 5 References 9 Scope of marketing 1.Demand is a term used for willingness to buy…
See graph l Graph I When price is increased, seller would want to sell more because it will be more profitable. However we will find that consumer will buy less because in the increase in price. Consumer may look for substitute product for bread which could be cheaper. While the demand curve goes downward when the price goes up, the reverse happens with the supply curve. In the diagram left, let us take for example that price of bread goes further higher from $3 to $4, the seller will be more than willing to sell at a higher price because it will be more profitable but as shown above demand for the product is low. The effect to seller and employment. The seller cannot afford to sell at lower price because it will incur losses. At this point, the seller will think of ways to cut on the cost of production. One of these is to reduce the number of personnel employed in the bakery. If the reduction of employment happens to all the bakeries in the country, the magnitude of unemployment will be another problem of the economy. How to increase demand. If the price increase is inevitable, there are ways to increase demand for the product. One way is to do a little market in tricks. A bakery in our place created the interest of customers when it announced a big sales discount on breads before closing the store. It may also work if you use catchy phrases like “limited supply only”, or perhaps by extending extra services to customers. ...
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