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12th class (selling (competition (highly competing product (affordable…
12th class
selling
pricing
part of major marketing strategy
should match competitors' product
selection of econoomic class
competition
on the basis of quality
on the basis of price
highly competing product
affordable price
high quality
METHODS OF COSTING
input based costing
sold to customers who consider the products not the brand
class based costing
emphasize on class of economy
sold to brand concious customers
do pricing accordingly
High cost, High quality
irrespective of the cost of inputs
Market based costing
branding
depends on market structure
presentation matters
eye contact
attractive intro of project
strong start up
Justification of project
pricing
connected with type of society & customer
price=cost+taxes+profit
uniqueness also matters
use of some amount in social welfare
some facts
4500,000 people of pakistan has no washrooms in their homes
Canada sale fake glacier water to Pakistan
Cakes are imported in Pakistan
From ITALY
From PKR 100000-500000
for costing:
quality features are compared with products
uniqueness
add something new
something different to attract others
impact of product
no discrimination
social welfare
low cost and offered to all economic class create high social impact
social costing
or negative
if product is voilating the society it has -ve mpact
may be positive
if product is benefiting the economy
social impact
welfare impact
pricing impact
uniqueness
profit along welfare
By link to welfare
next class task
project making instructions
content of the report
overall cost,per unit cost
pricing