Product
In this stage of the product life cycle pricing strategies may shift to liquidation.
What is a decline?
In this pricing strategy, companies set prices based on what their competitors are charging, often leading to aggressive price cuts.
What is competition-based pricing?
This element of the promotion mix involves paid messages communicated through channels like TV, print, or online media.
What is advertising?
This term refers to the path a product takes from the manufacturer to the final consumer, including intermediaries like wholesalers and retailers.
What is a distribution channel?
Name two of the dogs that regularly visit the office?
Who are Violet, Coco, Frankie, or Josie
Most new products and services tend to fail in this stage of the product life cycle.
What is introduction?
Apple products often follow this pricing model, where customers pay a premium for perceived luxury.
What is value-based pricing?
This type of promotion gives customers the opportunity to receive a product or service for free in exchange for trying it.
What is a free sample or trial?
This term refers to the geographic area where a company’s products are available for sale.
What is a market territory?
What is the 5th P of the 4ps of marketing?
What is people?
The Ultrasuite is in what stage of the product life cycle?
What is growth?
This pricing strategy changes prices based on fluctuating demand and market trends, often seen in industries like travel.
What is dynamic pricing?
Our rep relationship is considered an example of what type of personal selling approach?
What is business-to-business (B2B) sales?
True or False - Price has a multi-channel distribution strategy.
Who is Barb Price?
During the maturity phase, companies may use this strategy to extend the product’s life by adding new features or targeting new markets.
What is product differentiation?
This strategic Price simulation service uses a cost-based pricing model.
What is Predict (CFD)?
The new Price Social Responsibility website is an example of with promotional strategy?
What is public relations?
This type of distribution strategy offers exclusive rights to a limited number of retailers.
What is exclusive distribution?
What is the secret appetizer that Gerry and Barb used to attract reps to their first hospitality suite?
What is shrimp cocktail?
During Covid these three terminal products rapidly went through the Product Life Cycle.
What are the Room Air Purifier (RAP), the Overhead Air Purifier (OAP) and the Ceiling Air Purifier (CAP).
This term refers to the practice of adjusting prices in real time based on competitors' prices, often used in e-commerce.
What is price matching or dynamic competitor pricing?
This promotional strategy can drive quick results, complementing other marketing efforts by pushing consumers to take immediate action.
What is sales promotion.
Our texas distribution center is an example of what type of distribution channel?
What is the Price approved standard font?
What is Helvetica?