Aircraft performance

Question #2: Four Ps are the part of marketing Mix concept and they help marketers to make marketing strategy related to product, price, place and promotion to its market segment. Lets understand what Is marketing mix -

Marketing Mix combination of 4 Ps: Product Is something tangible offered to customers in market segment. For example- Iphones are product offered to customer segment having high income, Professionals and Job doers.

Price Is the second factor which tells us about the actual value of product and how Customers in market segment are willing to pay for the product. For Example- Iphone is offered to low or middle class people then they Would hesitate to purchase but if it is offered to high class people like Business man, doctors, lawyers etc then they would not hesitate to purchase it.

The place factor is third which Describe the place where products should be sold like in stores, online etc. For example- Apple Iphone are found in all offline and online mediums. 

Promotion- The last and important factor which helps to increase sale and effectiveness of Marketing is promotion. The method of communication by which the marketer Provides information about the product is known as promotion. It included Advertisements, personal selling, word of mouth publicity etc. For example- Apple iphone is promoted on TV, social media etc.

Question #3: I choose E-commerce. Many online Retail businesses use one of three popular strategies to set product prices: Cost-based, competitor-based, and value-based.

Cost-based pricing or, as it is Sometimes called, cost-plus pricing may be the most popular pricing model in The retail industry. Its greatest advantage is simplicity. It permits a store, Be it brick-and-mortar or online, to set prices without significant customer or Market research and ensure a minimum return on each product sold. 

With a competitor-based pricing strategy, you simply monitor what your Direct competitors are charging for a particular product, and set your price Relative to theirs. This retail pricing model works when you sell identical Products as your competitors and have no differentiators. In effect, you’re Assuming that your competition has done some research or has some experience or Is at least visible enough in the marketplace that their pricing must be Matched.(PUNTO APARTE)Ending a price in .99 is based on The theory that, because we read from left to right, the first digit of the Price resonates with us the most, Hibbett explained. That's why shoppers are More likely to buy a product for $4.99 than an identical one for $5 the item That starts with a 4 just seems like a better deal than the one that starts With 5.

Additionally, the .99 alone Serves to make an item appear to be on sale, according to the article "Mind Your Pricing Cues," published in the September 2003 issue of The Harvard Business Review. Price-conscious consumers have become conditioned To believe that they are getting a good deal when they buy something with a Price ending in .99 even if the markdown is minimal. Some retailers do reserve Prices that end in 9 for their discounted items. Comparisons of prices at major Department stores reveal that this is common, particularly for apparel.

Question #4Psychological concepts Like promoting product exclusively, repositioning oneself for competition etc. Can influence marketing under personal selling categories like in aircraft Manufacturing industry where if properly explained by the seller as to how the Products are different from other suppliers and what genuine flaws can be there With specific price range would be able to help to make trust and sell the Product.