Industrial products are machinery, manufacturing plants, materials, and other goods or component parts for use or consumption by other industries or firms. These type of products are procured by organisations to be used in producing other products. Examples are raw materials and accessory equipments.
Consumer products are products that are purchased for consumption by the average consumer. They are the end result of production and manufacturing. Their lifespan of consumption is shorter. They are freequently procured, less expensive, need no special technical expertise. Eg: Beverages, food items.
Primary products are goods that are available from cultivating raw materials without a manufacturing process. Examples includes oil, water, fish, fruit, crops, wood.
Secondary products are products that have been processed from raw materials that are used in production of other goods. Examples are facilitating products.
(i) To solve a specific problem
(ii) To identify the causes of a problem in an organisation
(iii) To find out the need of the customer
(iv) To help in appropriate project management
(v) To help and assist the management in decision making
(i) price off: This is when discount are given to customers for buying large quantity of a particular products
(ii) Salesman competition: when a company goods each sakes representative a target and at the end there is a benefit attached
(iii) Free gifts: this is a money of making customer purchase a particular products more by given them gifts.
(iv) Premium offer: is a scale promotion technique where the customer are given two or more products and they pay lower than the price of combine products
(v) Samples: This is the act of getting know of different products in market through careful design and analysis
Transportation is the physical carriage or movements of finished products from the place of manufacturing to the place where it would be accessible and available to the largest audience either wholesalers, sales, agent, retailers and ultimately the final consumers.
-Nearness to market
-Nature of the product
(i) Nearness to market: When the market or the location of the ultimate consumer is very close to the producer, this most often determine the mode of transportation to use.
(ii) Cost advantage: Marketing firms also consider cost variables as to cheapness of carrying a product. It is a major factor that determines the selling price of a product
(iii) Nature of the product: Perishability, durability, storage, frangibility of the product. It is difficult to transport vehicles, heavy plants or machinery by air. Therefore consideration should be given to heaviness.
(iv) Availability: A choice of transportation may also depend on availability. Some mode of transport are not Available in some area. In that kind of area, the product need to key into the available means of transport by either repackaging goods or by re-modifying the transporting strategy.
(v) Handling: Some forms of transport can involve rough handling. For example, products transported by ship may be hauled aboard the vessel in a net or sling, stacked beneath dozens of other goods and subjected to moisture condensation.
(vi) Local conditions : Take a look at the country you are shipping to. Are there many risks and weaknesses in its transport infrastructure? If the local ports have a bad reputation, or the road network isn’t up to standards, You’ll need to tailor your strategy accordingly.
Market union is an organization whose membership consists of marketers and union leaders, united to protect and promote their common interests.
i)Standardization And Grading: Standardization and grading of products are the other important functions of marketing.
ii)Financing: Finance is as necessary in marketing as in production of goods or services.
iii)Risk-taking; Risk-taking is the other important facilitating functions of
iv)To identify and source potentially successful products for the marketplace and then promote them by
differentiating them from similar products.
(i) personal capital
(ii) cooperative society
(iii) loan from bank
(iv) loan from friends and family
(i) Nearness to the market: this can influence the location of new outlet considering the usefulness of the condemners
(ii) Site and land: the availability of land can influence the location of new outlet
(iii) Raw materials: the outlet must located close to where the raw materials can accessed easily
(iv) Labour: The availability of cheap labourers can influence the location of the outlet. It is important that a labor force is well educated and well trained to ensure that they can produce goods at peak efficiency and quality