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Unformatted text preview: for the Rehearsal? 1. Using the FastTrack and Industry Conditions reports, find out what customers will want next year. 2. On the R&D spreadsheet, make decisions for Able. 3. Save your decisions. Click File and Update Official Decisions. Tactic 2: Marketing a Product What is this tactic about? Marketers talk about “the 4 P's of marketing ‐ price, promotion, place and product.” In this tactic we consider all four aspects of the marketing mix. Price ‐ each segment has an expected price range. Price serves two functions. Between segments, price distinguishes one segment from another ‐ for example, Low Tech customers expect lower prices than High Tech customers. Within a segment, price drives a demand curve ‐ lower prices generate higher demand than higher prices. Promotion ‐ each product has a promotion budget that drives customer awareness. Think of promotion as “what happens before the sale.” If a potential customer knows about your product before they begin shopping, they are more likely to consider your product. Place ‐ each product ha...
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- Fall '06
- Business, Foundation Report