Business Midterm

Front

Place doesn't always mean a store... selling brick and mortar (store front) or online are both options depending on the product.

Back

True

Front

When considering price and how much is charged for an item you must take in account... What will customers pay? How much do competitors charge? Can I make a profit?

Back

All of the above.

Front

Today, most promotions are seen through...

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social media

Front

Each one has to be the right fit for the marketing mix to work… Options: Product, Price, Promotion, Place

Back

Product, Price, Promotion, Place

Front

What is Cost/Plus?

Back

The cost to produce plus a profit.

Front

Price skimming is when a company sets a high initial price, and then it decreases over time.

Back

True

Front

Price Lining is a marketing strategy that offering different versions of a product at a different price.

Back

True

Front

What type of problem does a product have to solve for the customer? Options: Physical, Mental, Physical & Mental, Physical, Mental, Emotional

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Physical, Mental, Emotional

Front

Sales discounts and coupons are also known as...

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PROMOTIONS

Front

A value based pricing method... the price is set based on what the customer is willing to pay.

Back

True