Pricing
This introductory pricing strategy sets a low initial price to penetrate the market and quickly gain market share.
Penetration Pricing
Marketing (Distribution) Channel is comprised if which
interdependent organizations?
Producer
Agent
Wholesaler
Retailer
Name the 5 components of the promotion mix.
Advertising
Sales Promotion
Public Relations
Personal Selling
Direct Marketing
Name 2 types of Message Content appeals.
Rational appeal relates to the audience’s self-interest.
Emotional appeal is an attempt to stir up positive or negative emotions to motivate a purchase.
Who is your favorite Principles Of Marketing professor?
that would be me.....
This introductory pricing strategy sets a high initial price to penetrate the market and quickly gain market share.
Market Skimming
A Vertical Marketing Distribution System is comprised of which 3 Primary Channels?
Direct Channel
Retailer Channel
Wholesaler Channel
Nonpaid promotional activities designed to build good relations with the company’s various publics is known as ___________
Public Relations
Name one reason why a brand would use 'Informative Advertising'.
New product introduction
Suggest new uses for the product
Explain how the product works
What does a doorknob open?
A door!
_____________ is a measure of the sensitivity of demand to changes in price
Price elasticity
_________________ is when a firm sets up two or more marketing channels to Directly or Indirectly reach one or more customer segments.
Multichannel (Hybrid) Distribution System
Name 2 types Sales Promotions.
Coupons
Temporary price reductions
‘Buy One Get __’ offers
Contests
Name one reason why a brand would use 'Persuasive Advertising'.
Build brand preference
Encourage brand switching
Change customer perceptions about the brand
If you saved $25 per week, earning a 7% annual rate of return, how much money would you have after 40 years?
Over $400,000
____________product pricing sets prices of products that must be used with the main product.
Captive product pricing
______________ is when 2 or more companies at one level partner together on a new marketing opportunity.
Horizontal Marketing
Name 2 advantages of direct marketing.
•Targeted
•Customized
•‘Interactive’
An Advertising Strategy consists of what 2 decisions?
a. Message Decisions
b. Media Decisions
_______________ pricing is used when a company sells a product at two or more prices even though the difference is not based on cost.
Segmented pricing
____________ distribution is when the product is stocked in as many outlets as possible.
- lose control of the brand message
- message distribution is not guaranteed
A media plan Reached 50% of the audience at a Frequency of 4 ad exposures. How many GRP's did the media plan deliver?
50 x 4 = 200 GRP's