Theme One

HideShow resource information
Design Mix
Function, aesthetic and cost
1 of 11
Promotion
Activities designed to communicate with the market thereby increasing visibility and sales of a product.
2 of 11
Elements of the Promotion Mix
Public relations, branding, merchandising, sales promotions, direct selling and advertising.
3 of 11
Price
The amount of money that the customer has to pay to receive the good or service.
4 of 11
Cost Plus
A percentage mark up is added to the cost of producing a product to calculate the selling price.
5 of 11
Price Skimming
Setting a high price initially for a new product in order to recoup costs and gradually decreased over time.
6 of 11
Price Penetration
Setting prices low in order to break into a new market.
7 of 11
Predatory Pricing
Large firms will set their prices low in order to force smaller businesses out of the market.
8 of 11
Competitive Pricing
Prices are based on the prices charged by competitors.
9 of 11
Psychological Pricing
Setting prices to sound cheaper than it is - £9.99 instead of £10
10 of 11
Ways To Build A Brand
USP, Advertising, Sponsorship, Use of social media.
11 of 11

Other cards in this set

Card 2

Front

Activities designed to communicate with the market thereby increasing visibility and sales of a product.

Back

Promotion

Card 3

Front

Public relations, branding, merchandising, sales promotions, direct selling and advertising.

Back

Preview of the back of card 3

Card 4

Front

The amount of money that the customer has to pay to receive the good or service.

Back

Preview of the back of card 4

Card 5

Front

A percentage mark up is added to the cost of producing a product to calculate the selling price.

Back

Preview of the back of card 5
View more cards

Comments

No comments have yet been made

Similar Business resources:

See all Business resources »See all Topic 3 resources »