Suhel is a small entrepreneur involved in the manufacturing of hair gel. He finds that cost of production of 100 gm of hair gel is Rs. 250. He has decided to keep a margin of 15% as profit. Moreover, he has assessed that there is a free competition in this product segment. The function of marketing being performed by Suhel is BLANK-1.
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The marketing function perfomed by Suhel is the pricing function.
- The pricing function leads to the negotiated price which a business proposes in the market. The factors undertaken while performing the pricing function is the degree of competition and the cost of goods.
- Degree of competition is the important as more the competition, lower the level of fixed rate and in case of monopoly, higher the rate.
- Cost of the product is the price determined by adding cost, sales anf the profit margin.
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Answer:
The function performed by Suhel is Pricing
Explanation:
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