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26 Cards in this Set
- Front
- Back
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What are three reasons that mark up pricing is popular?
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Increased certainty, perceived fairness, and minimize price competition
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What are the five product mix pricing strategies?
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product line pricing, optional-feature pricing, captive-product pricing, by-product pricing, product-bundle pricing
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What is product-line pricing?
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setting prie steps between product line items
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What is optional-feature pricing?
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pricing optional products sold with the main product
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What is captive-product pricing?
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Pricing products that must be used with the main product
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What is by-product pricing?
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Pricing low-value by-products to get rid of them
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What is product-bundle pricing?
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Pricing bundles of products sold together
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What are the two new product pricing strategies?
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Market skimming pricing and market penetration pricing
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What is market skimming pricing?
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setting a high price for new products to maximize revenue from the target market segment
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What is market penetration pricing?
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setting a low price for a new product to attract a large number of buyers and gain a dominant market share
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What are the eight channel functions?
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1. payment
2. physical distribution 3. information 4. promotion 5. negotiation 6. matching 7. financing 8. risk taking |
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What are the three channel distribution strategies?
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Intensive, selective, and exclusive
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What are the five classifications of retail stores?
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1. type of store cluster
2. amount of service 3. product line sold 4. relative prices 5. control of outlets |
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Will I buy Pete a Guiness the next time I see him?
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Absolutely!
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What are the four categories of control outlets?
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1. merchandising conglomerate
2. corporate chain 3. voluntary chain 4. franchise |
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What are the four elements of promotion mix?
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1. advertising
2. sales promotion 3. public relations 4. personal selling |
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What are the three objectives settings?
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1. informative
2. persuasive 3. reminder |
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What are the five considerations when setting advertising budgets?
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1. product substitutability
2. stage in PLC 3. market share 4. competition and clutter 4. advertising frequency |
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What are the nine types of message execution styles?
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1. slice of life
2. lifestyle 3. fantasy 4. mood or image 5. musical 6. personality symbol 7. technical symbol 8. scientific evidence 9. testimonial evidence |
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What are the five key issues in selecting advertising media?
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1. reach
2. frequency 3. media impact 4. media vehicles 5. media timing |
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What are five areas and issues in sales promotion?
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1. rapid growth
2. objectives 3. consumer promotion 4. trade promotion 5. business promotion |
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What are six major decisions in international marketing?
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1. deciding whether to go international
2. looking at the global marketing environment 3. deciding which markets to enter 4. deciding how to enter the market 5. deciding on the global marketing program 6. deciding on the global marketing organization |
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What are the some advantages of going abroad?
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-compete with global firm
-foreign markets have higher profit margins -might need a larger customer base to achieve economies of scale -company might want to reduce its dependence on just one market company's customers might be going abroad and requiring services |
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What are some disadvantages of going abroad?
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-company might not understand foreign customer preferences
-company might not understand a foreign country's business culture -company might underestimate foreign regulators -company might realize that it lacks managers with international experience -foreign country might be politically unstable |
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What are the four considerations in the global environment?
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1. international trade system
2. economic environment 3. political-legal environment 4. cultural environment |
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What are the four industrial structures?
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1. subsistence
2. raw-material exporting 3. industrializing 4. industrial |
