Pencil Manufacturing and Marketing
Pencil: From the manufacturer to the consumer
In the case of an ordinary pencil, every aspect of the production and marketing process is designed to maximize profits and to minimize costs.
Most pencils are relatively low-cost, low-investment items -- a consumer does not give much thought to a pencil, other than functionality and price. "These days, typical yellow writing pencils and children's coloring pencils are generally considered to be a commodity. That is, one product from one producer is more or less considered by the customer to be as good as another, just like corn from one farm is more or less the same as corn from another farm" (Economics of pencil-making, 2012, Studio 602).
Most consumers do not have a 'favorite' brand of pencil.
Profitability
A. Economies of scale: For a pencil, the profit occurs through manufacturing at an economy of scale, rather than making a larger profit off of each pencil. Ultimately, the manufacturer...
Pencil Manufacturing and Marketing Production and Marketing of Pencils Quality-Based Marketing Promotion Niche Marketing Profit and Loss Principle of Profit Factors of Production Business Environment Economic Conditions Affecting the Business The Equilibrium Point or Market Price Competition within the Free Market Benefits and Limitation of Free Market International Marketing Import and Export of Pencils Strategies for Reaching Global Market Managing Business Ethically and Responsibly Social Responsibility Business Ownership Advantages Disadvantages Reasons for Business Ownership Web-based Business Management Skills Staffing Leadership Controlling Customer Satisfaction Development of the Industry Departmentalization Cross-Functional Semi-Managed Teams Networking Competitive market Manufacturing Process Techniques to Improve Manufacturing Computer-Oriented Manufacturing Flexible Manufacturing Lean Manufacturing Operation Management
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