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Topic: |
Business
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Number of pages / Number of words: |
3 / 591 |
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The management of CMI was confused on the pricing of the product in various sizes. So it very important to price the product mix effectively to generate good profit. They should consider the five Câs of pricing: cost,customer, channel of distribution, competition and compatibility while pricing their product...
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CMI could price their product by using the following pricing strategy:
Penetration of prices â Initially set the price low to accelerate product adoption .
5. CMI needs to select a target market and also position their product in the market by studying the market potential and then designing a marketing program ,including the product mix,that is consistent with how the company wants its product to be perceived...
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Cumberland Metal Industires
Cumberland Metal Industries
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