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| the process by which you get your product to that place |
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| the network of companies, agencies and/or institutions that perform the function requires to link producers with end users |
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| A means to create value for consumers and one of the most direct ways to commnicate value to consumers. |
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| perceived benefits - perceived costs |
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| total cost + return on investment / number of units |
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| fixed costs / (selling price - Variable costs) |
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| prices of substitute products or competitors' prices within the industry |
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| pricing below competitors to attract consumers AWAY from them |
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| pricing to match competitors but focusing on the superior value of your product at that price. shows your company can provide higher benefits at the same costs |
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| provide better value through some combo of higher benefits and lower costs |
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| % change in Q / % change in P. When demand is elastic, a small change in price = large change in demand. When demand is inelastic, a large change in price = small change in demand |
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| attract a large target market through low initial price |
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| set high initial price to ear high profits from a small market |
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| what are our communication goals? |
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| how do we want to say it? |
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| where do we want to say it |
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| how much communication is necessary |
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| was the communication successful? improvements? |
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| planning, implementation, evaluation |
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| developing promotion program |
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| executing the promotion program |
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| assessing the promotion program |
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| the process of having the sender transform an idea into a set of symbols during the communication process |
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| the process of having the receiver take a set of symbols, the message, and transofrm them back to an idea during the communication process |
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| the impact the message had on the receiver's knowledge, attitudes, or behaviors during the communication process. |
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| did we grab the consumer's ATTENTION |
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| did the consumer UNDERSTAND the message |
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| is the message BELEIVABLE |
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| producer promotes to channel partners, depends on retailers to promote to consumers |
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| producer promotes directly to end consumers |
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| offering a line of products at a predetermined price |
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| ex: dollar store (everything .99) |
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| consists of a group of products that are closely related because they satisfy a class of needs |
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| consists of the number of product lines offered by a company |
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| products purchased by the ultimate consumer |
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| products that assist directly or indirectly in providing products for resale |
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| items that the consumer purchases frequently, conveniently |
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| items for which the consumer compares several alternatives on criteria, such as price, quality, or style |
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| items that a consumer makes a special effort to search out and buy |
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| items that the consumer either does not know about or knows about but does not initially want |
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| items used in the manufacturing process that become part of the final product |
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| items used to assist in producing other goods and services |
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| statement that identifies a well defined target market and customers needs, wants, preferences, and what the product will be able to do |
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| exposes actual products to prospective consumers under realistic purchase conditions to see if they will buy |
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| payment a manufacturer makes to place a new item on a retailer's shelf |
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| involves positioning and launching a new product in full-scale production and sales |
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| penalty payment a manufacturer makes to compensate a retailer for sales its valuable shelf space failed to make. |
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