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Hi, need to submit a 1000 words essay on the topic Horizontal Profile of Cotton.Sellers in the market differentiate cotton products from other products on the basis of comfort. Sellers convince buyers
Hi, need to submit a 1000 words essay on the topic Horizontal Profile of Cotton.
Sellers in the market differentiate cotton products from other products on the basis of comfort. Sellers convince buyers that cotton provides ventilation and warmth during winter.
Suppliers use cotton to make curtains, tauplins and tents as cotton since cotton withstands sun ray. The cotton product has distinct attribute unlike other products in the market. The industry differentiates cotton products from others on the nature and type of color, strength, versatility, adaptability and natural features of cotton.
Non-physical attributes are bundled with the cotton product. In the case of physical attributes such as availability, nature of cotton and ability to withstand sun rays when exposed are bundled by sellers during process of selling. Sellers often display cotton products even in sunlight. Sellers inform buyers cotton is very versatile product as it can be coated, cotton is dry cleanable, and finished product (ICAC, 2005). Cotton product can be washed either by machines or hands. Cotton is very easy to print and this is unique attribute especially for marketing buyers. Product differentiation is a marketing and selling strategy which involves sellers informing buyers of distinct attributes of the product as compared to other products in the market.
The graph above shows frequency of prices of cotton for a period of three months. The initial price is 59 units. The highest price in the month of February is 65.5. There is a price decline in the month of March with the lowest price being 60.5 and the highest price is 65 in the same month. The highest price in April is 66.5 and the lowest price of cotton is 62.59.the price range is 7.5 which translate to 0.75 equal intervals. The bin price of cotton product is 62.75 units. The bin price is the most affordable price for all willing and able buyers.
There is a positive and non-linear relationship between prices of cotton and physical attributes of cotton in
