Product
The process of having your product stand out amongst competitors with factors other than price
Differentiation
This pricing strategy involves assigning a value that you think customers are willing to pay
Value-based pricing
What is the difference between distribution channels and communication channels?
Distribution is how you get a product to your customer and communication is how you inform and interact with your customer.
What is the difference between direct and indirect marketing?
What is currently the world's most valuable company?
NVIDIA
Intangible Differentiation factors (2)
Customer Service, Branding
Pricing strategy that involves setting a reference point for customers
Anchor pricing
Products placed at this "level" often are bought the most
An example of this type of promotion would be going door-to-door trying to sell something
Direct Selling
Name one of two flags that have the color pink on them
Spain, Mexico
Tangible Differentiation Factors (5)
Color, Quality, Features, Design, Packaging
This pricing strategy involves setting intentionally low prices to gain market share
Penetration pricing
What are the four distribution channels?
D2C, Retailer, Wholesaler, B2B
This type of marketing relies on friends/family talking about a product/service they enjoy
Word of Mouth marketing
How many teams did Shaquille O'Neill play for?
6
What company is represented by these colors:
Dominos
What is the price of the new Apple Vision Pro? (+/- $100)
$3,499
Where is the Bass Pro Shops Pyramid located?
Memphis, TN
Product placement in movies is an example of this type of marketing
Stealth/Guerilla
There is a point in the US where you can be in 4 different states at the same time. What are these states?
Arizona, New Mexico, Colorado, Utah
Name the company based off of the initials from its slogan: A R O D
Dunkin (American Runs on Dunkin)
A company employs a cost-plus pricing strategy. Their product costs $25 to make and they charge $38.50. What is their markup %?
54%
Which fast food chain has the most locations in the USA?
Subway
Promoting a company's brand image is an example of this type of marketing
Public Relations
What country has the most letters in its name?
The United Kingdom Of Great Britain And Northern Ireland