PRICING & ELASTICITY
This term describes how much demand changes when price changes.
What is price elasticity of demand?
Packaging is important because it protects the product and helps with ____.
What is marketing/sales?
This part of a marketing plan identifies who the product is meant for.
What is the target market?
A logo, colors, and fonts are part of a brand’s ____.
What is brand identity?
The way customers view a business is its ____.
What is its image?
If demand drops a lot when price rises, the product is considered this.
What is elastic demand?
Products placed at eye level are more likely to be ____.
What is purchased?
These are measurable actions such as “increase sales by 10% by June.”
What is SMART goals?
This branding facet focuses on how the product works and solves problems.
What is functional branding?
A messy store layout may cause customers to buy less because it creates a negative ____.
What is impression?
If demand barely changes when the price increases, the product is considered this.
What is inelastic demand?
Bright colors and bold fonts on a cereal box are used to attract ____.
What is attention?
The 4Ps included in most marketing plans are product, price, place, and ____.
What is promotion?
Nike’s “Just Do It” is an example of a brand ____.
What is a slogan
Online reviews strongly influence customer ____.
What is purchase behavior?
Gasoline is often considered this type of demand because people still buy it even when prices rise.
What is inelastic demand?
Checkout aisle candy displays are examples of this type of product placement.
What is impulse buying placement?
This analysis examines strengths, weaknesses, opportunities, and threats.
What is a SWOT analysis?
When a celebrity promotes a product, this branding strategy is being used.
What is endorsement?
A company emphasizing diversity and belonging is improving its brand ____.
What is inclusion?
A business lowers prices and sees revenue increase because demand responds strongly. This shows demand is ____.
What is elastic?
Packaging that highlights “eco-friendly” materials is meant to appeal to consumer ____.
What are values?
The main purpose of a marketing plan is to guide a business’s marketing actions toward achieving ____.
What are business goals?
This branding facet involves how a brand makes customers feel (trust, excitement, confidence).
What is emotional branding?
A luxury brand using high-end packaging and elegant ads is shaping customer perceptions of its ____.
What is value or quality?