Download e-book for iPad: Mastering Marketing by Douglas Foster (auth.)

By Douglas Foster (auth.)

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Falling below minimum levels might disrupt production. So they have to match the timing of their orders with their company's production plans and level of inventories at the time. This means that orders will be 25 carefully timed and with the need to buy as economically as possible will occur less frequently than impulse buying by individual consumers. The sum total of these and other factors means not only that orders for industrial products, and especially capital equipment, are of greater value and occur at less frequent times than orders for consumer goods but also that forecasting demand and the pattern of sales (how sales will occur during a year) can be more difficult.

Communist countries are totally committed to state ownership, though by the late 1970s there had been some minor relaxations in limited areas and more emphasis was placed on the need to make profit. Yugoslavia, Romania and to a lesser extent, China, are other examples that come to mind. However, economists try to establish as objectively as possible the principles which under given conditions show how an economy should work. From this they try to predict the likely outcomes of specified policies.

Communist countries are totally committed to state ownership, though by the late 1970s there had been some minor relaxations in limited areas and more emphasis was placed on the need to make profit. Yugoslavia, Romania and to a lesser extent, China, are other examples that come to mind. However, economists try to establish as objectively as possible the principles which under given conditions show how an economy should work. From this they try to predict the likely outcomes of specified policies.

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