Internal factors influencing price

What are the internal factors to consider when making price decisions?

The selection of a price for a product depends upon both internal factors and external factors. Internal factors relate to factors inside the organization itself, whereas external factors consider … Read more...

Consumer Products Classification System

consumer product classification system

The consumer products classification system is a model commonly presented in most marketing principles textbooks in the product mix chapter. This model classifies as consumer products into one of four classes, namely:

  • Convenience products
  • Shopping products
  • Specialty products
  • Unsought products