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Perishability is used in marketing to describe the way in which service capacity cannot be stored for sale in the future. It is a key concept of services marketing. [1] Other key characteristics of services include intangibility, inseparability, fluctuating demand, pricing of services, heterogeneity and variability.
Research indicates a fluctuation in point-of-sale demand of five percent will be interpreted by supply chain participants as a change in demand of up to forty percent. Much like cracking a whip, a small flick of the wrist - a shift in point of sale demand - can cause a large motion at the end of the whip - manufacturers' responses. [4]
In marketing it is a theoretical method that is used to lower the prices of the goods and services causing high demand for them in the future. This strategy of penetration pricing is vital and highly recommended to be applied over multiple situations that the firm may face.
No demand: If people are unaware, have insufficient information about a service or due to the consumer's indifference this type of a demand situation could occur. The marketing unit of the firm should focus on promotional campaigns and communicating reasons for potential customers to use the firm's services.
Negative demand: If the market response to a product is negative, it shows that people are not aware of the features of the service and the benefits offered. Under such circumstances, the marketing unit of a service firm has to understand the psyche of the potential buyers and find out the prime reason for the rejection of the service. For ...
Yield management (YM) [4] has become part of mainstream business theory and practice over the last fifteen to twenty years. Whether an emerging discipline or a new management science (it has been called both), yield management is a set of yield maximization strategies and tactics to improve the profitability of certain businesses.
OPEC has cut its forecast for 2025 demand growth to 1.54 million barrels per day, from 1.85 million barrels per day in July. That is at the high end of estimates compared to those from the ...
The cobweb model or cobweb theory is an economic model that explains why prices may be subjected to periodic fluctuations in certain types of markets.It describes cyclical supply and demand in a market where the amount produced must be chosen before prices are observed.