Pricing
Two ways the government can prevent unfair pricing
price floors and price ceilings
4 ways to segment the market
demographics, geographics, psychographics, behaviors
4 stages of the product life cycle
introduction, growth, maturity, decline
what color is lucky in some Asian cultures ;)
red
$9.99 is an example of
odd pricing
What's a fixed sum survey question?
ill tell u if ur right
which stage in the life cycle do you release new product lines?
growth
which combination of colors gives elegance
adjacent colors
odd pricing, even pricing, prestige pricing, price lining, buy one get one, and bundling
Differentiate between linear numeric and likert
likert is a type of linear numeric that includes the options "strongly agree, agree, neither, disagree, strongly disagree"
in which stage is the market saturated?
maturity
4 elements of the promotional mix
advertising, public relations, direct selling, sales promotions
7 unfair pricing practices
bait and switch, price-fixing, price discrimination, deceptive pricing, predatory pricing, a loss leader, and price gouging
Disposable vs. discretionary income
disposable - the amount a customer has to spend on necessities, such as food and water
discretionary - the amount left after all needs are taken care of
name the 6 different ways to close a sale
an assumption close, a bonus close, a choice close, a satisfaction close, a contingent close, a direct close
contest vs. sweepstake
contest - compete to get something
sweepstake - random winner
base price = 10, new price = 20, which method of cost based pricing was used? What are the other methods of cost-based pricing?
keystone-pricing method, percentage markup and dollar markup
name all 16 surveys in market research
linear numeric scale, likert scale, multiple rating matrix, frequency scale, forced ranking scale, pick some, paired comparison scale, comparative scale, semantic differential scale, adjective checklist, semantic distance scale, stapel scale, fixed sum, compound matrix, pictorial scale, and visual analog scale.
Do a roleplay with your partner on each different type of service approaches
service, merchandise, greeting MUST BE TAKEN SERIOUSLY
talk in depth about the three types of PR
press kit, press release, press conference