Promotion
A type of communication written by PR departments and sent to media outlets to announce a company event
What is a press release?
The "I" in the AIDA model of advertising.
What is "interest"?
The value placed on goods or services being exchanged.
What is the price?
What is supply?
To stay competitive, a business must do this to its price.
Two of the five forms of communication in the promotional mix.
One of the three ways that advertising can appeal to consumers.
What is emotionally, morally, or rationally?
This type of pricing strategy is used to generate sales during slow periods.
What is promotional pricing?
This curve has a negative slope on the supply/demand graph.
What is the demand curve?
An example of an internal factor impacting price.
What is marketing objectives or marketing mix?
A free mention of a product or company in the media.
What is publicity?
Television commercials are a form of this type of advertising.
What is broadcast media?
In breakeven pricing, _____________ = ____________.
What is total revenue = total cost?
This happens to the price when the supply is low and the demand is high for a product.
The price increases.
During a recession, businesses do this to the price to retain customers.
What is lower or decrease the price.
Contests, sweepstakes, coupons and rewards programs are examples of this type of promotion.
What are sales promotions?
Banner ads, search engines, and counting hits are a form of this type of advertising.
What is online media?
The difference between the retail/wholesale price and the cost of an item
What is the markup?
The example given in class for a product that has inelastic demand.
What is toilet paper?
During this stage in the product life cycle, prices are high to cover the costs of production.
What is the product introduction stage?
PR department plans that address the need for good communication with the media in response to a problem or issue
What is crisis management?
The name for placement of words in context with the overall format in an advertisement.
What is message execution?
This type of pricing rewards customer behavior (booking early, buying off season, buying in volume).
What is discounting?
The type of demand that increases when the price decreases.
If a product is in this stage of the product life cycle, a company should discontinue selling it.
What is product decline?