Psychological Pricing
Emotional Advertising
Social, Personal, or Economic Factor?
Intro to Bus Units 1/2
???
100
Type of pricing that includes whole-dollar value in the price; creates the sense of getting a premium product
Even pricing
100
Emotional advertising strategy that creates a sense of what could happen if you don't use their product
Fear
100
Getting groceries from Aldi to save money
Economic
100
List all of the segments within a target market
Geographic
Demographic
Psychographic
Benefit
Volume
100
Mr. Plaza went to this college after attending Harper.
UW-Whitewater
200
Type of pricing that includes cents in the price; creates the sense of getting a bargain
Odd pricing
200
The original Jake from State Farm commercial ("uhhhhhh..... khakis") was so successful because of the way it utilized this emotional advertising strategy
Humor
200
Buying a certain brand because it's the best quality
Economic
200
This part of the Business Model Canvas (BMC) indicates what areas a business will look at to measure their success
Key Metrics
200
This baseball team has won 11 World Series titles, most in the National League.
St. Louis Cardinals
300
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
300
Emotional advertising strategy where companies try to create buzz around their product being the best
Must-have/hype
300
Getting New Balance's because everyone wears them
Social
300
James has ran his car wash for 5 years. In that time, he's expanded to 4 locations and has 44 employees on his payroll. James also has some big ideas for expansion that would require more capital (money).
The main priority for James is finding a form of ownership that would protect his personal assets while also supporting his growing business. Which form of ownership would be the best fit?
Corporation
300
In 2024, this brand was named the "Most Valuable Brand"
Apple, valued at $880B
400
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
400
Emotional advertising strategy used in most restaurant advertisements
Sense appeal
400
Buying Kerrygold butter because it's an Irish company and you come from Irish descent
Personal
400
What is the biggest drawback of the corporate form of ownership?
Double taxation
400
This person served as the 17th President of the United States.
Andrew Johnson
500
Pricing strategy where items are grouped together and sold as "bundle"
Multiple Pricing
500
Emotional advertising strategy where they highlight a specific part of the product/service
Special ingredient
500
Purchasing basketball shoes since you're a basketball player
Social
500
This part of the Business Model Canvas (BMC) includes how businesses intend on getting their product/service to consumers
Channels
500
This was the original Oreo, which debuted in 1908. Oreo became a product 4 years later.
Hydrox
