Term
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Definition
| costs, demands, revenue, pricing environment |
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Term
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Definition
| change in price causes big change in demand |
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Term
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Definition
| changes in prices cause little change in demand |
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Term
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Definition
| very high initially, plan to lower later (technology) |
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Term
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Definition
| set low initial price to gain customers |
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Term
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Definition
| low price for limited time |
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Term
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Definition
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Term
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Definition
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Term
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Definition
| seller takes part or all cost |
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Term
| Trade/Functional discount |
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Definition
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Term
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Definition
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Term
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Definition
| price reduction at certain times of year |
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Term
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Definition
| giving products for free to increase sales |
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Term
| Internal Reference pricing |
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Definition
| $ range in consumers mind |
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Term
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Definition
| includes dollars and cents |
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Term
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Definition
| inc in price leads to inc sales |
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Term
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Definition
| offer low priced item and try to sell higher price item |
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Term
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Definition
| offers item below cost to get customers |
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Term
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Definition
2 co. conspire to keep price constant
-horizontal- 2 gas stations
-vertical- manufacturers and retailer |
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Term
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Definition
| Set very low price to drive out competition |
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Term
| What is MKT Communication purpose |
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Definition
| Inform, Remind, persuade, and build relationships |
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Term
| What are 3 models of MKT Communications |
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Definition
1 to many (ads)
1 to 1 (direct mkt)
many to many (social media) |
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Term
| The more control a marketer has the ____ credible it is |
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Definition
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Term
| what are advantages/disadvantages of ads |
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Definition
adv- total control, build brand, inform
disad- expensive |
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Term
| what are advantages/disadvantages of sales promo |
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Definition
adv-build excitement, encourage purchase, reduced price
disad- doesn't encourage brand loyalty |
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Term
| what are advantages/disadvantages of Public Relations |
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Definition
adv- low cost, highly credible
disad- lack of control |
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Term
| What are the 5 elements of Traditional promotions |
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Definition
| Ads, Sales Promo, Public Relations, Personal selling, Direct MKT |
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Term
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Definition
| social trend, people use technology to get things they need from each other. |
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Term
| What are ethical problems with buzz |
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Definition
shouldn't be designed to deceive
shouldn't target kids
shouldn't damage property |
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Term
| What are brand ambassadors/what do they do? |
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Definition
communicate w/ others about a brand they care about
(apple, mac) |
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Term
| What is the hierarchy of effects based on communications objectives? (from lowest to highest) |
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Definition
| awareness, knowledge, desire, purchase, loyalty |
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Term
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Definition
Top down- mgt allocates budget
% of sales
competitive parity- matching the competition spending
objective- based on the task needed to be accomplished by ads |
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