- Franchises- Internet aggregatorsWe can classify retailers by the level of service offered to customers. Service level is often a trade-off of high levels of personalized service against the costs of staffing and training. Retail service levels can be assessed as self-service. A critical factor regarding promotional strategy is that is required to identify branding strategy, identify preferred communication channels, and to create effective promotions.The is to match a company's products and services to the people who need and want them.Psychological pricing is affected by which of the following: Customer pricing experienceGray channel distributors buy from companies with overstocks and sell to companies that can move the product.Promotional communication has also evolved from a one-way data dump from the company to the consumer to a two-way dialogue between the company and the consumer.IMC is a way to effectively plan and execute promotion to maximize the impact ofa coordinated plan and minimize costs.Consumers often buy several related products or services. When marketers recognize synergy among products and services and put items together in effective combinations, bundle pricing offers opportunities for competitive advantage. Online travel companies bundle airline flights, hotel stays, rental cars,and visits to attractions and offer travel packages at a single price.Specific Price Tactics include which of the following? (Choose 2)- Short-term promotions- Discountsresearch goal of mark
Price is the money or other economic considerations assigned to the valueof a product or service.Marketers use price setting to capture value from consumers who need orwant products and services.The first step in price setting is to understand the organization’s objectives and how marketers achieve the objectives through price.oThe organization’s price objectives can be classified as profit, sales, or competitive.Profit objectives are achieved by seeking profit during each transaction.Sales objectives include increasing unit or dollar sales or increasing market share.Competitive objectives usually involve being a price follower and competing on other elements of the marketing mix.Markup is a standard tool used by many retailers who simply take the costs of merchandise and double them to cover other variable and fixed costs and to ensure a profit.A break-even analysis helps marketers understand price and volume relationships and how many units must be sold before profits occur.
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