Marketing
The people who are most likely to purchase you product or the customers who the company pursues.
Type of promotion the company uses such as their website.
Owned
The company's trademark.
Logo
John researches all the competitor's prices within 30 miles in order to set his prices.
Competitor Pricing
Place deals with ______ a product or service is sold.
Where
Research performed by the company.
Primary Research
Type of promotion such as customer reviews.
Earned
The feeling you get when seeing or hearing about a product or company.
Brand
The local furniture store promotes themselves as the cheapest in town. They reduce their prices even lower each week to go with a promotion they are running.
Discount Pricing
A person/company who sells to the final user.
Retailer
Research performed by others but used by the company.
Secondary Research
The company placed an ad in the Super Bowl.
Paid
T/F. The color of the packaging has meaning.
True
Crumbl Cookie charges $9 dollars for 3 small cookies when Hy-Vee charges $5.99 for 10.
Premium Pricing
A person or company who sells to other companies who sell their product.
Wholesaler
The company has a product that is driven by the economy. They use information from this source for economic analysis.
Academic Journals
The generation that utilizes social media to gain information about products.
Gen Z
The jacket is waterproof. This is an example of the "what" customers are buying.
Feature
Walmart runs a special on TV's. The advertised price of the smaller TV will cause the company to lose money. But it will draw customers.
Loss Leaders
Selling your summer product only in Florida.
Geographical
Jimmy is starting a new mowing service. He wants to know how many other companies do the same thing. What's the cheapest source?
Online search.
The generation that prefers calling customer service rather than using a Chatbot.
Baby Boomers
Benefits.
Jacobsen Consulting hired a consultant for $40 an hour. The company then adds a mark-up and bills the client $80.
Cost Plus
Number one place customers go to shop for products.
Online