Pricing objectives and tools pricing strategy the

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Pricing Objectives and Tools Pricing Strategy the pricing plan based on the marketing mix Pricing Existing Products (above, below, or near market prices) Fixed vs. Dynamic Pricing for Online Business Pricing New Products (skim vs. penetration)
Pricing Objectives and Tools Pricing Tactics Price lining Psychological pricing Odd-even pricing Discounting Price reduction offered as an incentive to purchase
Promoting Products and Services Promotion Strategies Push Strategy Firm promotes aggressively to intermediaries Pull Strategies Firm promotes directly to consumers , who demand the product from intermediaries Many firms use a combination of both strategies
Promoting Products and Services Promotional Mix Advertising Personal selling Sales promotion Publicity Public relations
The Distribution Mix Distribution channel The path a product follows to the end user
Practice Questions
Quick-Check Questions 1) Tactical planning is concerned with: A) finding the optimal solution for an emergency situation. B) developing specific short-run strategies about what needs to be done, who will do it, and how it will be accomplished. C) devising alternative courses of action to be used if the original plan does not work out. D) setting long-run goals that will dictate the strategic plan of the organization.
Quick-Check Questions 1) Tactical planning is concerned with: A) finding the optimal solution for an emergency situation. B) developing specific short-run strategies about what needs to be done, who will do it, and how it will be accomplished. C) devising alternative courses of action to be used if the original plan does not work out. D) setting long-run goals that will dictate the strategic plan of the organization. Answer: B) developing specific short-run strategies about what needs to be done, who will do it, and how it will be accomplished.
Quick-Check Questions 2) The motivational theory that focuses on inputs and outputs and the relative ratio between employees is called: A) Expectancy Theory B) Hawthorne s Theory C) Equity Theory D) Two-Factor Theory
Quick-Check Questions 2) The motivational theory that focuses on inputs and outputs and the relative ratio between employees is called: A) Expectancy Theory B) Hawthorne s Theory C) Equity Theory D) Two-Factor Theory Answer: C) Equity Theory
Quick-Check Questions

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