Psychological Pricing
Type of pricing that includes whole-dollar value in the price; creates the sense of getting a premium product
Even pricing
Emotional advertising strategy that creates a sense of what could happen if you don't use their product
Fear
Economic
24-48 years old, male & female, middle income
Demographics
What is the largest lake in the United States?
Superior
Type of pricing that includes cents in the price; creates the sense of getting a bargain
Odd pricing
The original Jake from State Farm commercial ("uhhhhhh..... khakis") was so successful because of the way it utilized this emotional advertising strategy
Humor
Economic
Psychographic
Who was the first signer of the Declaration of Indepenence?
John Hancock
Pricing strategy where something is priced lower in order to stimulate purchases in more profitable areas (examples are milk & eggs being generally very cheap in supermarkets)
Loss leader
Emotional advertising strategy where you feel a sense of urgency to purchase
Must-have
Getting New Balance's because everyone wears them
Social
Low-cost, affordable
Benefit
Jack Black starred in this movie where a substitute teacher started a rock and roll band
School of Rock
Pricing strategy where all of the items in a given product category are listed together, showing lowest, medium, and highest price to create levels of quality
Price Lining
Emotional advertising strategy used in most restaurant advertisements
Sense appeal
Buying Kerrygold butter because it's an Irish company and you come from Irish descent
Personal
Daily consumer, high-brand loyalty
Volume
Who are the other two business teachers?
Marshall and Fisher
Pricing strategy where items are grouped together and sold as "bundle"
Multiple Pricing
Emotional advertising strategy where they highlight a specific part of the product/service
Special ingredient
Social
A lawn mowing business would most likely want to segment their target market by __________
Geographic (people who live on properties with lawns)
Within 2,000 people, what is the population of Elk Grove?
31,659