Ch 8, 10, 11, 12, 16,17 notes

Coupons personal selling traditional attempts to

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Coupons Personal selling Traditional Attempts to persuade the buyer into a specific point of view. Win-lose outcome Relationship Long-term relationship, creates a win-win outcome Push Promote to the retailers Pull Customers pull product through channel Routine Advertising Sales promotion Neither routine or complex Advertising Public relation Complex Personal selling Print advertising CH19 Price
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Economic cost of a purchase Most flexible out of 4p’s Sale promotion Common mistakes Determine costs and take traditional industry margins Failure to revise price based on market changes Setting price independently of the rest of the marketing mix Focusing too much on competitors Setting prices too low Price objective Profit oriented Profit maximization Satisfactory profits Status quo Sales oriented Market share Sales maximization Status quo Maintain existing prices Meet competitions price Price equilibrium
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Elasticity of demand Elastic Greater than 1 Inelastic Less than 1 Unitary Equal to 1 Yield Management system Stimulate demand when demand is low Maximize profit when demand is high Cost Fixed Variable Cost determinant Mark up Keystoninig Profit maximization Break even
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