BA 101 Lecture Notes - Lecture 5: Budget, Diminishing Returns
12 Oct 2017
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Document Summary
Ba 101 day 5: sales budget and accessibility: when you spend money in sales budget, you increase accessibility. Not always better due to the law of diminishing returns: promotion and awareness: when you spend money in promotion, you increase awareness about products through advertising. Not always better due to law of diminishing returns: awareness: aware of your product, accessibility: access to your sales people, buyers and sellers markets: represent the relationship between supply of product and the demand for product. Anticipated availability of product by you and your competitors can be an indicator. Industry demand versus actual industry sales : sellers market: limited supply occurs due to stock outs (companies ran out of inventory for sale). Customers search for any available product, can lead to lower standards. Customers will be selective about products they buy. Sellers must make products as appealing as possible and priced within the range: difference between two:
