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Price analysis is the study of how a price relates to other things such as product demand. Its specific meaning varies in contexts such as marketing and general business.
| | This article needs additional citations for verification .(November 2022) |
Price analysis is the study of how a price relates to other things such as product demand. Its specific meaning varies in contexts such as marketing and general business.
In marketing, price analysis refers to the analysis of consumer response to theoretical prices assessed in survey research.
In general business, price analysis is the process of evaluating a proposed price independent of cost and profit. [1] [2] Price analysis began in 1939 when economist Andrew Court decided to analyze prices to better understand the environmental factors that influence this practice. [3] Price analysis is dependent on the characteristics of the marketing system in place within a certain country. [4] In developing countries researchers use it to help better understand data. [5]
The term may refer to converting a price to a unit price, e.g., per unit of area.
Analysis is the process of breaking a complex topic or substance into smaller parts in order to gain a better understanding of it. The technique has been applied in the study of mathematics and logic since before Aristotle, though analysis as a formal concept is a relatively recent development.
Marketing is the act of satisfying and retaining customers. It is one of the primary components of business management and commerce.
Organic farming, also known as organic agriculture or ecological farming or biological farming, is an agricultural system that emphasizes the use of naturally occurring, non-synthetic inputs such as compost manure, green manure, and bone meal and places emphasis on techniques such as crop rotation, companion planting, and mixed cropping. Biological pest control methods such as the fostering of insect predators are also encouraged. Organic agriculture can be defined as "an integrated farming system that strives for sustainability, the enhancement of soil fertility and biological diversity while, with rare exceptions, prohibiting synthetic pesticides, antibiotics, synthetic fertilizers, genetically modified organisms, and growth hormones". It originated early in the 20th century in reaction to rapidly changing farming practices. Certified organic agriculture today accounts for 70 million hectares globally, with over half of that total in Australia.
Sales are activities related to selling or the number of goods sold in a given targeted time period. The delivery of a service for a cost is also considered a sale. A period during which goods are sold for a reduced price may also be referred to as a "sale".
Marketing research is the systematic gathering, recording, and analysis of qualitative and quantitative data about issues relating to marketing products and services. The goal is to identify and assess how changing elements of the marketing mix impacts customer behavior.
A marketing plan is a plan created to accomplish specific marketing objectives, outlining a company's advertising and marketing efforts for a given period, describing the current marketing position of a business, and discussing the target market and marketing mix to be used to achieve marketing goals.
Market research is an organized effort to gather information about target markets and customers. It involves understanding who they are and what they need. It is an important component of business strategy and a major factor in maintaining competitiveness. Market research helps to identify and analyze the needs of the market, the market size and the competition. Its techniques encompass both qualitative techniques such as focus groups, in-depth interviews, and ethnography, as well as quantitative techniques such as customer surveys, and analysis of secondary data.
Current good manufacturing practices (cGMP) are those conforming to the guidelines recommended by relevant agencies. Those agencies control the authorization and licensing of the manufacture and sale of food and beverages, cosmetics, pharmaceutical products, dietary supplements, and medical devices. These guidelines provide minimum requirements that a manufacturer must meet to assure that their products are consistently high in quality, from batch to batch, for their intended use.
SAS is a statistical software suite developed by SAS Institute for data management, advanced analytics, multivariate analysis, business intelligence, criminal investigation, and predictive analytics. SAS' analytical software is built upon artificial intelligence and utilizes machine learning, deep learning and generative AI to manage and model data. The software is widely used in industries such as finance, insurance, health care and education.
Agribusiness is the industry, enterprises, and the field of study of value chains in agriculture and in the bio-economy, in which case it is also called bio-business or bio-enterprise. The primary goal of agribusiness is to maximize profit while satisfying the needs of consumers for products related to natural resources such as biotechnology, farms, food, forestry, fisheries, fuel, and fiber.
The Fairtrade Foundation is a charity based in the United Kingdom that aims to help disadvantaged producers in developing countries by tackling injustice in conventional trade, in particular by promoting and licensing the Fairtrade Mark, a guarantee that products retailed in the UK have been produced in accordance with internationally agreed Fairtrade standards. The foundation is the British member of FLO International, which unites FLO-CERT, 25 National Fairtrade Organisations and 3 Producer Networks across Europe, Asia, Latin America, North America, Africa, Australia and New Zealand.
The 'International Fairtrade Certification Mark is an independent Fair trade certification mark used in over 69 countries. It appears on products as an independent guarantee that a product has been produced according to fair trade political standards.
Marketing ethics is an area of applied ethics which deals with the moral principles behind the operation and regulation of marketing. Some areas of marketing ethics overlap with media and public relations ethics.
The fair trade debate concerns the ethics and economic implications of fair trade, a term for an arrangement designed to help producers in developing countries achieve sustainable and equitable trade relationships. The benefits of fair trade for farmers and workers can vary considerably and the social transformation impacts also vary around the world. However the main concerns from critics is that fair trade may give an unfair advantage to some producers over others.
Food marketing is the marketing of food products. It brings together the food producer and the consumer through a chain of marketing activities.
Global marketing is defined as “marketing on a worldwide scale reconciling or taking global operational differences, similarities and opportunities to reach global objectives".
Sustainability measurement is a set of frameworks or indicators used to measure how sustainable something is. This includes processes, products, services and businesses. Sustainability is to quantify. It may even be impossible to measure as there is no fixed definition. To measure sustainability, frameworks and indicators consider environmental, social and economic domains. The metrics vary by use case and are still evolving. They include indicators, benchmarks and audits. They include sustainability standards and certification systems like Fairtrade and Organic. They also involve indices and accounting. They can include assessment, appraisal and other reporting systems. The metrics are used over a wide range of spatial and temporal scales. For organizations, sustainability measures include corporate sustainability reporting and Triple Bottom Line accounting. For countries, they include estimates of the quality of sustainability governance or quality of life measures, or environmental assessments like the Environmental Sustainability Index and Environmental Performance Index. Some methods let us track sustainable development. These include the UN Human Development Index and ecological footprints.
Agricultural marketing covers the services involved in moving an agricultural product from the farm to the consumer. These services involve the planning, organizing, directing and handling of agricultural produce in such a way as to satisfy farmers, intermediaries and consumers. Numerous interconnected activities are involved in doing this, such as planning production, growing and harvesting, grading, packing and packaging, transport, storage, agro- and food processing, provision of market information, distribution, advertising and sale. Effectively, the term encompasses the entire range of supply chain operations for agricultural products, whether conducted through ad hoc sales or through a more integrated chain, such as one involving contract farming.
Market information systems are information systems used in gathering, analyzing and disseminating information about prices and other information relevant to farmers, animal rearers, traders, processors and others involved in handling agricultural products. Market information systems play an important role in agro-industrialisation and food supply chains. With the advance of information and communication technologies for development (ICTs) in developing countries, the income- generation opportunities offered by market information systems have been sought by international development organizations, non-governmental organizations (NGOs) and businesses alike.
Food prices refer to the average price level for food across countries, regions and on a global scale. Food prices affect producers and consumers of food. Price levels depend on the food production process, including food marketing and food distribution. Fluctuation in food prices is determined by a number of compounding factors. Geopolitical events, global demand, exchange rates, government policy, diseases and crop yield, energy costs, availability of natural resources for agriculture, food speculation, changes in the use of soil and weather events directly affect food prices. To a certain extent, adverse price trends can be counteracted by food politics.
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