Title: MARKETING STRATEGY FOR PROFIT MAXIMIZATION AND INCREASE IN MARKET SHARE
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Title: |
MARKETING STRATEGY FOR PROFIT MAXIMIZATION AND INCREASE IN MARKET SHARE |
Author Name: |
MR. KUNJ KARIA, MISS. NEHA CHANCHLANI, MR. KARAN KASHYAP |
Abstract: |
Profit maximization is the fundamental need of every company but the way in which this objective can be achieved is quite underrated till date. In this paper, we analyse the business strategy of a toothbrush producing company and demonstrate a case study regarding profit maximization by initially reaching the breakeven condition and later enhancing the business strategy for profit maximization. Using data from the previous quarters, with sales ranging over 5,00,000 units, we find that the company is adept in finding the total number of units to be produced to meet the current needs but is still not able to maximize the profit. Virtually all models of production start with profit maximization. The companys inelastic pricing in the previous quarters leads to loss of opportunity. The simplicity of business and the transparency of companys model is quite useful in devising a new business strategy. |
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