Creating an emotional connection with the brand to make you purchase the product. eg. Andrex Puppy
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How important are decisions about price?
Price gives messages about product and quality, and the price depends on the demand (how much they are wanting the product) and also an appropriate price needs to be set within peoples income ranges.
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Cost-Plus Pricing
Adding a certain amount to a product to determine the price.
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Contribution Pricing
Setting a price to cover at least the direct costs.
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What is meant by distribution?
Distribution is how we get the product to the consumer.
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Give an example of 3 Distribution Channels.
Wholesalers, Retailers (often deal directly with the final consumer) and Agents (estate or travel agent)
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What is the Product Life Cycle?
Assesses the pattern of sales over time, in which 5 stages represent different aspects of the products life- these are; development, introduction, growth, maturity and decline.
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Boston Matrix
A marketing model that assess individual products in terms of their market share, compared with their market growth. -Rising Star, Cash Cow, Problem child and Dog.
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Other cards in this set
Card 2
Front
Price gives messages about product and quality, and the price depends on the demand (how much they are wanting the product) and also an appropriate price needs to be set within peoples income ranges.
Back
How important are decisions about price?
Card 3
Front
Adding a certain amount to a product to determine the price.
Back
Card 4
Front
Setting a price to cover at least the direct costs.
Back
Card 5
Front
Distribution is how we get the product to the consumer.
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