the sales volume of a product, using Starcomms Plc as a case is therefore a significant undertaking. Consumers are said to pass through a cognitive and affective phase before adopting and showing certain behavior. These definitions are generally classified in to two main approaches. Definition: The Promotion Mix is the blend of several promotional activities (Advertising, personal selling, sales promotion, public relations, direct marketing) used by business to create, maintain and increase the demand for a product. External factors affecting pricing decisions. Lack of Sales History: A sales history or past records are essential for a sound forecast plan. Nutraceutical is a term coined a decade ago that is de fined as a foodstuff, such as a dietary supplement or The report further bifurcates the Digital English Language Learning market on the basis of several segments, comprising region, application, product/services, end-user, and others. Keywords : Brand Recognized, Brand Perception, Product Quality, Product Innovation. These factors includemotivation,resourcefulness, product knowledge, aptitude, job satisfaction, role perception, personal factors like age, sex, height etc,ego drive, and empathy towards the customers are inherent in the individual salesperson. Tariffs. In addition, sales people performance is one of the key factors influencing sales volume, productivity, customer loyalty and unpredicted expenses (Buciuniene and Skudiene, 2015). The sales forecast might have been tied to a splashy marketing campaign that failed, or consumers simply did not take to a new product offering the way management expected. In this study, we used the content of consumer reviews and propose a novel framework … A basic understanding of the inter-relations between factors affecting production is an essential prerequisite for an accurate assessment of production. ... their product decisions (Keller, Aperia & Georgeson, 2008). Education Law. Nature of the Market 3. Product innovation affect the demand and supply of existing products as Kisler & Bachrach, (1973) found that innovation is moreover a new product or method affect the supply of preceding products. This research analyzes factors affecting the frequency of fast-food consumption of products like hamburger and sausage in Mashhad, the capital of Iran’s Khorasan Razavi province. This study identifies factors that seem to influence a new firm's ability to accurately forecast new product sales. There are several factors that affect the salability of your business. When you talk about the social aspects, you focus on the societal forces. Mombasa . will have to be made e.g. Characteristics of Buyers 7. The determinants of individuals’ demand generally include price of the product, prices of related products, ... annual sales data available from government sources . POSTAL SERVICE Factors Affecting Fund-Raising Stamp Sales Suggest Lessons Learned Researchers have used different approaches to explain the factors affecting the growth of SMEs. No business can bear fruits without a proper setup. Corruption level. In the main, these factors include service quality and product differentiation. Terms of trade of tea, 1985–1998) (1990 = 100 constant prices, U.S. cents/kg). Economic Environment: Economic factors throw light on the nature and direction of the economy in which a firm operates. Customer Related Factors 3. PDF | There are several factors that affect customer satisfaction. It assesses the main segments and the sub-segments of the global Digital English Language Learning market. Sugar Free ve May affect popularity of product so changes rsions. If the firm incurs heavy advertising and sales promotion costs, then the pricing of the product shall be kept high in order to recover the cost. This study first examined the socioeconomic factors of FMCG to explore significant variables that affect the purchase intention of the consumers and find the gap in existing literature. Strictly as per the compliance and regulations of: FOR Code: 150505, 150504 JEL Code: M31, M37 For the analysis of important relations and conclusions, beside theoretical literature, we use the results of several studies. Factors Affecting Consumer Decision Making For Purchasing Selected Home Appliance Products Based On Market Segmentation-A Feedback Study of People Associated With Management Education. The objective of this study is to assess the internal and external environmental factors affecting sales volume of Mesfin Industrial Engineering PLC. Product Related Factors 2. AB-15 Factors Affecting Development of a Tea Industry in Hawaii CTAHR — Mar. Organisation Related Factors. 3. A Study of Factors Affecting on Men’s Skin Care Products Purchasing Page 2 of 77 ABSTRACT This study examines in some depth the influences of marketing mix, social factors, emergence of the metrosexual, evolution of femininity and masculinity, self-esteem and Demand, Competition and; Government control. / A Study Factors Affecting Consumer Buying Behaviour… 372 Online shopping has potential to challenge market structure and nature of products. The nature of the product affects the structure of the sales organization. 1 2. Anti-trust law. A Study on Factors Affecting Sales of Branded Product in Retail Sector Dr.S.Franklin John*, Mr.J. Issue Technological Technological Factors – Examples Impact Changes in technology will affect (Smith and Wright 2004) conducted a research study in the computer industry. Freedom of the press. Trade control. Factors Involved. The data has … Sales might be reduced so businesses will have to keep up to date with new different people. The Internet allows for relatively easy and low-cost entry for new entrants to markets. Logistics must ensure that a recipient is Despite its importance, costs, and risks, product launch has been relatively underresearched in the product literature. Marketing Environment involves forces that directly or indirectly influence an organisation’s capability to market its product successfully. Anand Christopher - A Study on Factors Affecting Sales of Branded Product in Retail Sector - published at: "International Journal of Scientific and Research Publications (IJSRP), Volume 2, Issue 9, September 2012 Edition". Product quality, price, service, customer emotion, personal factors, situational factors, a perception of equity or fairness, product features are some of the factors which influence the customer satisfaction. There are many factors quality is desirable for most processing methods, the composition of fruit in relation to flavors, texture, color and nutritional value is … Advertising Budget and Factors Affecting it. The factors affecting promotion mix can be studied under the following heads: 1. Figure1:: Conceptual framework of the study The research is examined through the following hypotheses: The researchers used brand image, product quality, service quality, and firm viability as determinants of customer loyalty so as to predict sales … • It consist of the cost of goods and the amount of operating expenses. Highlights of GAO-05-953, a report to congressional committees September 2005 U.S. Due to the lack of research in this area, there is a necessity to address this issue seriously. India ** PhD Scholar, Karunya University, Coimbatore, India Abstract- The study was designed to investigate the Relationship between Branding Dimensions and Brand Rating. Factors Affecting Sales in the Leather Industry. impact the environment factors that are affecting on firm’s marketing activities for successful business. The other elements, product, promotion, and place (distribution channels) are not easy to change as it takes a considerable time, effort, and coordination to make changes to them. Generally markets can be be segmented on the basis of different groups of users, different points of consumption, and different time of production. 3 For more information, contact Katherine Siggerud at (202) 512-2834 or siggerudk@gao.gov. Total Sales Margin Variance (FMAF) Total sales margin variance calculates the effect of external market factors, using standard cost, on profitability ie price and sales volume. the sales growth model for small firms developed in [9]which is based on the product of average bill and frequency of visits and extend it in order to identify more sources of sales growth. External factors include. They are essential and can have a big impact on how well your business is running. A major influencing factor in future self-development is the general state of the economy. Successful sales performance is critical to any revenue-based organization. Factors, affecting, Fruits, Vegetables and Quality Introduction Not all varieties of fruits and vegetables are satisfactory for processing. 12 Market Opportunities, Drivers & Challenges, Risks/Restraints, Key World Economic Indicators and Influences Factors Analysis. We hypothesize that socioeconomic and marketing factors contribute to the A sales forecast is a projection of the expected customer demand for products or services at a specific company, for a specific time horizon, and with certain underlying assumptions Essential tool used for business planning, marketing, and general management deci Despite the numerous studies, the search for the most powerful determinants of salesperson performance has largely been unsuccessful Purpose – To investigate the factors affecting consumer’s online shopping behavior. Pronouncements of laws by the government regarding the legality of the product, its minimum pricing requirements, and taxes can affect sales of that particular product. Moreover, advertising restrictions can also affect sales. 4. Competition Taking this view in to account, the internal factors like price, product quality, place, and promotion mix elements, level of inventory of MIE has been discussed. Some of the major factors affecting selection of channel are organization objectives, type of product, nature and extent of market, existing channel for comparable product, buying habits of consumers and channel availability. The output was to establish the factors affecting the growth of life insurance business in Kenya and therefore came up with recommendations that will help in determining those indicators that the industry should focus on to enhance growth of life insurance business. Internal factors relating the marketing mix, and external factors of the environment that could have an influence on sales are described. Many factors, specificities and characteristics influence the individual in what he is and the consumer in his decision 1. Mainly a new product has no sales history and forecast made on guess may be a failure. factors, identifying these factors is important to identify potential buyers and make products to meet these needs. Market Penetration 5. B. These factors are related to skills and ability that are implemented into production, as well as all the materials and technology that a particular product requires to be made. Top 8 External Factors Affecting Business Environment: External Environment Factor Affecting Business # 1. Family sized microwave meals. plicated network of factors as shown in Figure 1, below, of which half are outside the control of the farmer. were the most highly rated factors by the respondents in that order. To view the full product, including the scope and methodology, click on the link above. Factors Affecting Retail Prices Merchandise Cost: • Merchandise cost is the amount invested by a retailer to have a product. Perceived Social Status and Brand Loyalty are significantly related to the factors affecting Consumer Buying Behaviour where Price and Perceived Quality were significantly related. sales volume, salerevenue, ands sales costs are frequently used to evaluate success. SOCIAL FACTORS AFFECTING CONSUMER’S PURCHASE IN FURNITURE Revenue and profitability A major factor affecting the salability and price of a business is its revenue and profitability (P&L). Factors affecting consumer buying behavior N Ramya and Dr. SA Mohamed Ali Abstract Consumer Buying Behaviour refers to the buying behaviour of the ultimate consumer. Assessment procedures Some of them have considered environmental and external factors to have a big impact on the performance and growth of small firm’s (Lumpkin and Dess, 1996;). Nature of product or industry and the marketing strategies as main factors that Affect Pricing When a company offers a specialized product, which are innovative and technological advanced, gives the company the opportunity to maintain relatively high prices also in foreign markets. We can summarize the external factors affecting the growth of SMEs as follows: i. the factors affecting on customers purchase intention. According to William D. Wells (2009) advertising is aimed at motivating and affecting consumers' behavior in a way that is beneficial to the company or brand being advertised. Demand affect pricing decision. Within the economy, some contributing factors such as the fluctuation of interest rate, economic crisis, and so on directly and strongly affects the consumption of buyers, and consequently, the profits of businesses. It is widely recognized that personal/individual factors affect how salespeople perform. When it comes to a business’s external environment, it involves different factors such as Furthermore, social factors play a special role in the decision of the buyer’s purchase (kotler and Armstrong, 2006). The responsible factors, which influence the purchase behaviour of consumers related to shoes, are associated with the product, price, place and promotion. Factors Affecting Promotion Mix. decision to by) are identified. Among these factors, individual sales person motivation and … But pricing decision remains a patchwork of … E.g. The market is such that consumer tastes are increasingly differentiated and maintenance of high service quality in the face of rising cost of essential factors is needed. Market Size 6. Factors affecting export trade. Overview on global pharmaceutical industry According to SESRIC (2011) the global pharmaceutical industry has proved a rapid growth over the years and emerged as one of … Role of brand equity in brand performance So far, different definitions of brand equity have been proposed by the scientists and researchers since its emergence. There are many factors that affect the performance of sales personnel. Internal environment factors The internal environment is made up of factors within the firm itself. Competition: While fixing the price of the product, the firm needs to study the degree of competition in the market. The factors affecting promotion mix are:-1. • The cost of goods includes the amount paid for the product, plus any shipping or handling expenses. These internal factors affecting sales of a product include: The largest single critical factor determining the company’s sales growth is the product itself. If your product is satisfying the needs of the consumers at reasonable prices, it will sell. Each of these factors has a special dimension. Prior works in this field relating to movies have focused on the average rating and the number of comments. Segmentation by Product type. Taking this view in to account, the internal factors like price, product quality, place, and promotion mix elements, level of inventory of MIE has been discussed. A postal survey of pharmacists in a random sample of community pharmacies in Great Britain was carried out to ascertain the factors which influenced their decisions when recommending a product for Over The Counter (OTC) sale. Source: FAO 1999. Overview Of Iron and Steel Slag Industry 2021-2026: This has brought along several changes in This report also covers the impact of COVID-19 on the global market.. The demand for a product means how much of the product consumers are willing and able to purchase. (Smith and Wright 2004) conducted a research study in the computer industry. Dr.S.Franklin John, Mr.J. Consumption patterns are usually governed by the relative affluence of market segments. These factors that affect pricing are discussed below-. Dr. Debasis Ray1, Dr. Sayantani Roy Choudhury2 1Program-Head (PG) & Senior Faculty, Marketing and Strategic Management, Management Studies, The success and growth of these companies are not based on the value they offer to consumers. NPD process objective of this study is to assess the internal and external environmental factors affecting sales volume of Mesfin Industrial Engineering PLC. FACTORS AFFECTING EFFICIENCY IN LOGISTICS ... and storage of goods, semi-finished items and manufactured products as well as related ... including marketing, sales, manufacturing, finance, and information technology. Profits attraction or sales motive, need to stimulate distribution channels and need to lower overheads or sales force cost thus steal on competition may add to the reasons. Sales performance represents an important ongoing research stream to both academicians and practitioners. were the most highly rated factors by the respondents in that order. This study discusses the factors that affect the performance of sales in the direct selling business in PT Srirara Kanaka Pratama (PT SKP). with the 16 hypotheses being classified into two sets of underlying factors that could contribute to the sales performance of SMEs. Advertising Budget is the amount of money which can be or has to be spent on advertising of the product to promote it, reach the target consumers and make the sales chart go on the upper … percentage of a brand sale to total sales of all brands of a product [7]. 4) Product. Product and product line is another determining factor that will influence the new design a sales organization will take. For example, a business that deals with a more diversified product or a wide range of products requires a more intense sale force compared to one that deals in only one particular product. FACTORS INFLUENCING THE COMPANIES’ PROFITABILITY Camelia Burja1 ABSTRACT: The information about company performance, especially about its profitability, is useful in substantiating managerial decisions regarding potential changes in the economic resources that the company will be able to control in the future. Anand Christopher** * Principal, Nehru College of Management, Coimbatore. 11 Value Chain and Sales Channels Analysis 1 Value Chain Analysis 2 Sales Channels Analysis- Electronic Components Sales Channels 3 Electronic Components Customers. To improve the existing products or innovate new product technology is very essential for any firm Gjerde et al (2002). price, social factors, durability, brand name, product features and after sales services) thought to influence the dependent variable (i.e. A study was conducted in the 3 countries used as case studies, identifying consumers’ preferences and the awareness of those by people in the industry such as employees of dealerships and manufacturers. On-premise, Cloud based On the other hand, several factors like mentioned in the Fig 2 influence the purchasing behaviour of the customer. growth. Moreover, there are many factors affecting pricing decisions. Stages in the Product Life Cycle 4. This study focuses on the uncontrollable external factors that affect sales measures both the sales volume of a product, using Starcomms Plc as a case is therefore a significant undertaking. What is Sales Forecasting? The analysis of the influence factors affecting the performance of pharmaceutical companies 25 25 1. external and internal factors on product and business processes innovation. In the age of Web 2.0, the rapid growth of user-generated content (e.g., consumer reviews) on the Internet offers ample avenues to search for information useful to both people and companies. 3 According to Miao and Evans (2013), sales people performance in the business organization is Factors Affecting Sales Performance . Internal factors affecting SalesInternal factors affecting Sales ForecastForecast New Product lines Production Capacity changes Change in Distribution method Price Changes Working Capital shortages Inventory Changes Sales Motivation Plans Credit Policy Changes Labor Problems Internal Factors 6. The responsible factors, which influence the purchase behaviour of consumers related to shoes, are associated with the product, price, place and promotion. The Iron and Steel Slag Market Report a detailed study of different aspects of the Global Market. 2. The purpose of this paper is to examine the effects of corporate social responsibility, social media marketing, sales promotion, store environment and perceived value on a purchase decision in the retail sector.,A quantitative research methodology was used and the data were collected from 278 customers of retail stores in Malaysia. “Factors affecting purchase intention towards smartphone brands; A study of young female consumers” ,although similar studies have been carried on smartphone brands and its respective purchase intentions, however this research is directed mainly and These are few genuine factors that are practically influential in sales and play a commendable role in increasing the productivity of sales. Identifying the Key Success Factors in New Product Launch C. Anthony Di Benedetto Effective product launch is a key driver of top performance, and launch is often the single costliest step in new product development. ... A policy approach which is becoming normal for sales activities is comparatively rare in pricing. The factors such as import-export policy of the Government, conditions imposed upon the enterprise by its foreign purchasers, international policy, etc., also affect the sales forecasting of the business enterprise. Factors Affecting Pricing Decisions. Economy is one of the most determining factors to the success of the company even though it is an external element. Economic Factors: Sales can be affected by the law of demand and supply, affecting both consumers and business owners. Social Factors: It has something to do with people, like cultural factors and what consumers perceive as good, healthy, or beneficial products. Most well managed manufacturing enterprises have a clear cut advertising policy, product customer policy and distribution-channel policy. These sets include persona1 and business- related factors. Consequently, the main purpose of this study is to investigate factors affecting on the purchase intention of Bono brand tile customers. Each of the two groups has a set of explanatory variables that were measured to assess their relationship with sales performance. In addition, sales people performance is one of the key factors influencing sales volume, productivity, customer loyalty and unpredicted expenses (Buciuniene and Skudiene, 2015). Changes in life-style. Businesses require a more effectivemethod of managing new product and service development, which many internal and external factors hinderare ing. ... their product decisions (Keller, Aperia & Georgeson, 2008). FACTORS AFFECTING EFFICIENCY IN LOGISTICS ... sales, manufacturing, finance, and information technology. External Factors: 1. sales forecasting[1] 1. These factors include staff relationship, resources and corporate culture … 13 Key Findings in the Global Electronic Components Study There are a number of factors affecting the pricing decisions and price is not determined simply. The researchers used brand image, product quality, service quality, and firm viability as determinants of customer loyalty so as to predict sales … The market is such that consumer tastes are increasingly differentiated and maintenance of high service quality in the face of rising cost of essential factors is needed. The reason is that the price is a very sensitive issue for the customers in … “ Money does matter a lot .”. Perceived Social Status and Brand Loyalty are significantly related to the factors affecting Consumer Buying Behaviour where Price and Perceived Quality were significantly related. So, these could be family, friends, neighbours, colleagues and even the media. Social Factors Affecting Business Environment and Strategy. Nature of the Product 2. Key Words: product innovations, business processes innovation, industry maturity, customer needs, demand, technological opportunity, If the competitor has a reputable brand controlling a significant market share, its presence may negatively affect the sales of the rival's products. Some benefits of retail on the Internet are as follows: 1. Colombo . Mashhad is the second largest city in Iran, with a population of around 3.2 million in 2016. Factors Affecting Channels of Distribution – Factors to Consider When Choosing a Distribution Channel. In the case Design/methodology/approach – A descriptive type of study using judgmental sampling for selecting the samples from online shopping users of Kanpur city. A company’s marketing environment consists of all the factors and forces outside marketing that affect management’s ability to develop and maintain successful transactions with its target customers – Kotler and Armstrong. 1) Marketing Mix – Management can easily do variations to the price component of the marketing mix element. product aging that need replacing, diversification, move to new raw materials by the firm. The Chicory Market Report is intended to function as a supportive means to assess the Chicory market along with the complete analysis and clear-cut statistics related to this market. Factors Affecting Consumer Preference of International Brands over Local Brands Zeenat Ismail1∗, Sarah Masood2 and Zainab Mehmood Tawab2 1Department of Social Sciences, Institute of Business Administration – Karachi 2Students of Institute of Business Administration – Karachi Abstract: This study was conducted in order to determine the consumer preferences of global brands These general conditions are related to If the past data are not available, then forecast is made on guess-work, without a base. 2.1 Model Description Asmall firmmay be defined as an economic subject transforming a set of inputs (input factors) into a set GJMBR-A Classification : Factors Affecting the Brand Recognition An Exploratory Study. An organization that consistently misses its sales goals may be forced to reduce operations or even go out of business. products are coming with innovative plans to tacklethe challenges due to intense competition, brand loyalty, and intensifying expectations of the customers. According to Kotler and Armstrong (2010) price is an amount of money charged for a product or service. Thus, an expert marketing manager considers all these factors while creating marketing activities. sales has reached 34% of the total sales of mobile in 2012 (Gartner.com,2012). Below, is a list of political factors affecting business: Bureaucracy. Or senior management, in a desperate attempt to increase revenues, may have simply placed unrealistic expectations on the sales team when compared with past performance. Chakraborty and Sengupta (2014), Santouridis and Trivellas (2010) found pricing structure is one of the major determinants of affecting customer satisfaction for any organization to build a sustainable competitive differentiation. Psychological Factors: Consumers’ attitude may change at any time. Calcutta . The variables within each 2002 Figure 3. (Budget sales price - budget cost) x budget quantity Less (Actual sales price - budget cost) x actual quantity NB Calculated for each product.
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