Topic 7: Pricing and Communications & Advertising Flashcards
1
Q
What are the 5 Cs of pricing?
A
- Competition.
- Costs.
- Company objectives.
- Customers.
- Channel members.
2
Q
Strategies for setting pricing strategies.
A
- Cost-based.
- Competitor-based.
- Value-based.
3
Q
Product pricing strategies.
A
- Market penetration pricing.
- Price skimming.
- Leader pricing.
- Price lining.
- Mark downs.
- Quantity discounts.
- Seasonal discounts.
- Coupons.
- Rebates.
- Leasing.
- Price bundling.
4
Q
What are the pricing strategies?
A
- Profit-oriented. (specify specific profit margin.)
- Sales-oriented. (set prices very low to win sales from competitors.)
- Competitor-oriented. (low to discourage competitors.)
- Customer-oriented. (target a segment and set high prices.)
5
Q
Communicating with consumers model.
A
6
Q
What is the AIDA model?
A
7
Q
A
8
Q
What are the quadrants of IMCS?
A
Four quadrants:
- Interactive
- Passive
- Online
- Offline
9
Q
What are the steps in planning and executing an ad compaign?
A
- Identify target audience.
- Set advertising objectives.
- Determine the advertising budget.
- Convery the message.
- Evaluate and select media.
- Create advertisements.
- Assess impact.
10
Q
Advertising Objectives
A
11
Q
Focus of Advertisements
A
12
Q
Media planning
A
Process of evaluating and selecting the media mix that will deliver a clear. consistent, compelling message to the intended audience.
13
Q
Media mix.
A
Combination of media use and frequency of advertising in each.
14
Q
Media buy
A
Actual purchase of airtime or print pages.
15
Q
Factors to creating advertisements
A
