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Kani carries his new book on him everywhere he goes, telling people, "Buy Two Copies, get the third free!" What are the TWO promotional strategies being employed to sell Kani's book?
What are sales promotion and personal selling?
A new Samsung TV just dropped, and the entertainment bundle I want costs $2800. I'm going to wait a few months to buy, so I can avoid the beginning of this pricing strategy.
What is Price Skimming?
This systematic process involves collecting, analyzing, and interpreting information about a market, including information about customers and competitors.
What is Market Research?
Before creating promotional materials, businesses identify this group of individuals who are most likely to be interested in and responsive to their products or services. What is the term for this specific group?
What is the Target Audience?
A new entrant into the video game market decides to price their new "Z Box" gaming system significantly lower than established competitors to attract a large customer base. What pricing strategy are they using?
What is Penetration Pricing?
This is the prompt code for a midjourney entry:
What is /imagine prompt:?
When selling your book, you tell your customers that they absolutely have to buy your book in order to remain satisfied in life.
What is Must-Have?
This is the 5th "P" and the MOST IMPORTANT element of the SERVICES marketing mix.
What are People?
In a commercial for a popular soft drink, Lil Baby is show enjoying the beverage. What role does Lil Baby play in the marketing strategy?
What is a spokesperson?
Lil Baby is in need of an illustrator for his new cartoon series about a baby rapper who sells out stadiums between nap times. After meeting with several artists who rubbed him the wrong way, he chose to illustrate his pilot episode on his own using Midjourney. WHat kind of good did Midjourney turn out to be for him?
What is a shopping good?
Axe deodorant places an ad in Times Square New York showing a giant digital character sniffing people as they walk by. He plays on this emotion people feel in thinking they might be stinky without Axe.
What is fear?
A company decides to offer its products at lower prices to attract a large number of cost-conscious consumers. What is the name of this pricing strategy?
What is economy pricing?
This term refers to products that consumers don't actively seek out and may not be aware of or think about, such as life insurance.
What are unsought goods?
When selling your book, you tell your customers, "Get one today!" at the end of your sales pitch. Which strategy are you including in your pitch?
What is a call to action?
Jabari hears on the YouTube that maple syrup comes from corn. He's so excited about what he's learned, so he shares it with a girl at school he wants to impress. What is Jabari sharing?
What is misinformation?
You just wrote a childrens book! You take extra copies everywhere you go, telling everyone you meet how amazing your book is and encouraging them to purchase it from you. WHile you rake in thousands of dollars in sales, you're engaging in this kind of promotion.
What is Personal Selling?
Pepsi has a PR problem after a bad commercial makes them less popular. In order to improve their popularity, they make a commercial featuring Dolly Parton, Michelle Obama, and 5 other celebrities with very high popularity and positive approval ratings. Which advertising technique are they hoping will work on potential customers?
What is Association?
You dream of owning your own publishing company called, Dead A Books, promoting books by kids from your neighborhood who tell nothing but the truth about their experiences growing up. Thanks to ChatGPT and Midjourney, you really only need a computer and some internet access to get started. This business has very low _____ __ _____.
What are start up costs?
A manufacturer sells large quantities of its products to retailers at a discounted price. This kind of pricing used when selling in bulk to intermediaries(middle men)?
What is Wholesale pricing?
Products with unique characteristics or brand identification that consumers are willing to make a special effort to obtain fall into this category
What is a specialty good?
This promotional method involves the use of paid, non-personal communication through various media to inform and persuade the target audience.
What is advertising?
A company calculates the production cost of an item and adds a fixed markup percentage to determine the selling price. What is this pricing decision known as?
What is cost-plus pricing?
Travell is fancy and likes the finer things in life. He is having his childrens book printed with a 24 karat gold leaf cover and a famous artist did all of his illustrations by hand. What pricing strategy is Travell most likely to use to reflect his work?
What is Premium Pricing?
Companies with a physical, tangible presence, such as traditional stores or businesses with physical locations, are often referred to by this term. What is the term for businesses operating in physical spaces?
Brick and Mortar
When you buy Aiden's children's book because it's placed near the register as you wait in the check-out line at the Pink Store, what kind of good is the book?
What is a convenience good?