Case One : Packaging and the J.N.D. “Weber’s law has important applications in marketing. Manufacturers and marketers endeavor to determine the relevant JND for their products for two very different reasons: 1. so that negative changes (e.g. reductions in product size or quality‚ or increase in product price) are not discernible to the public (i.e. remain below JND) and 2. so that product improvements (e.g. improved or updated packaging‚ larger size or lower price) are very apparent to consumers
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Automobile Industry Manufacturing process Forecasting. Operations management AUTOMOBILE INDUSTRY MANUFACTURING FORCASTING. Why automotive sector? Projected growth of the Indian auto industry translates to 10 -11 % of India GDP by 2016 Auto- component industry in India expected to be USD 45 billion. Policy initiative to market India as an attractive manufacturing destination. Automotive industry promises significant employment opportunities
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An Assignment On Forecasting Submitted To Dr. Tophan Patra Submitted By Kumail Murtaza MBA AVM SEM III R250211021 College of Management and Economic Studies (CMES) University of Petroleum and Energy Studies Dehradun‚ India Exponential Smoothing Class Values Ft+1 = α.Xt + (1- α).Ft ----------------------------------- Eqn 1 Ft+1----- Forecasted Value of the next period “t+1” α------- Smoothing Factor/Coefficient Xt------- Actual Value
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price of the product might be the amount of money that a business expects to receive from good or service which was purchased by its customer. For a majority of products price is determined in a free market by the forces of supply and demand. Also price is one of the 4 elements of Marketing Mix. Pricing strategies are only the medium or long-term pricing plans that a business adopts. There are some main pricing strategies: Price skimming is often used when a new innovative product is launched
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Branding‚ Packaging and Labeling Packaging and Labeling What you’ll learn . . . • The principal functions of product packaging • The main functions of labels Packaging • The physical container or wrapping for a product. Functions of Packaging • Promoting and Selling the Product Functions of Packaging • Defining Product Identity – invokes prestige‚ convenience‚ or status Functions of Packaging • Provides Information – UPC symbols‚ contents‚ guarantees‚ nutritional value
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Demand Forecasting Demand forecasting is the activity of estimating the quantity of a product or service that consumers will purchase. Demand forecasting involves techniques including both informal methods‚ such as educated guesses‚ and quantitative methods‚ such as the use of historical sales data or current data from test markets. Demand forecasting may be used in making pricing decisions‚ in assessing future capacity requirements‚ or in making decisions on whether to enter a new market.
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Feasibility Plan of a New Product. It has been a great honor for us to take part in such a prestigious opportunity. I express our gratitude to all the well wishers who supported me all the time with their helping hands. Executive Summary I want to market Green Coconut Water. I have prepared this feasibility plan on that basis. I have assigned a name for the product as “Jaul”. Since the raw materials are very much available in our country‚ we have decided to give the product an indigenous image
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Production Support. Ch.3 Demand Forecasting. Edited by Dr. Seung Hyun Lee (Ph.D.‚ CPL) IEMS Research Center‚ E-mail : lkangsan@iems.co.kr Demand Forecasting. [Other Resource] Definition. ․ An estimate of future demand. ․ A forecast can be determined by mathematical means using historical‚ it can be created subjectively by using estimates from informal sources‚ or it can represent a combination of both techniques. - 2 - Demand Forecasting. [Other Resource] Why Forecast
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TYPES OF FORECASTING METHODS Qualitative methods: These types of forecasting methods are based on judgments or opinions‚ and are subjective in nature. They do not rely on any mathematical computations. Quantitative methods: These types of forecasting methods are based on quantitative models‚ and are objective in nature. They rely heavily on mathematical computations. QUALITATIVE FORECASTING METHODS Qualitative Methods Executive Opinion Market Research Delphi
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New product Li Yuan Dip Fin 16B1 1. Idea generation-there are many sources to help them to generate the new idea. Business analysis-what is the potential for sale‚ costs‚ and benefit? 2. Idea generation is the first stage of new product development. The idea is creative thinking. that is new product ideas or creative process. Lack of good new product idea has become the bottleneck of industry of new product development. A good new product idea is a key of new product
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