Marketing and Demand

__________ is a means of communication with the users or potential users of a good or service where messages are intended to inform and/or influence.

​ (a)   provides information about the benefits and features of a product, for example, what it does, how it compares with other products, and where it can be purchased. ​ (b)   tries to convince a consumer to buy a particular product. Persuasive advertising often appeals to ​ (c)   while informative advertising more often deals with ​ (d)   .

• Informative advertising
• Persuasive advertising
• emotion
• facts

Organize these options into the right categories

Groups:

(a) INFORMATIVE ADVERTISING

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(b) PERSUASIVE ADVERTISING

• "Mikey likes it!"

• "Now with bananas, a good source of potassium"

• "Help lower your cholesterol"

• "Tigers start their day with a bowl"

• "Now with real strawberries and almonds"

• "Crave those crazy squares"

_________ refers to promoting and selling products or services.

Marketing Mix (The 4 Ps)

A business makes four decisions with respect to how to promote and sell its product:

• Price

• Value to the consumer, elasticity of demand for the product, price of competitors’ products, buyers’ income, discounts

• Place

• The need the product satisfies, product features, the size/color/style/etc. of the product, the product’s name and brand, the difference from competitor’s product, how/where customers use the product, the product’s packaging

• Product

• Advertising and public relations, how to reach potential buyers, how competitors reach potential buyers, when to promote, where to promote, how to promote

• Promotion

• Target market, where consumers shop for the product, distribution channels, sales methods, competitors’ locations

Drag and drop to match each of the 4 Ps to its appropriate example.

• Promotion

• A free temporary tattoo is included in every box of a cereal

• Price

• 50-cent coupon attached to the outside of package

• Place

• Free samples given out at a retail store that sells the product category

• Product

• Website and placement of product in search engines

​ (a)   refers to any kind of marketing where the business initiates the conversation and sends its message out to potential customers. ​ (b)   attracts customers by creating content and experiences that connect to potential customers by providing content they are looking for.

• Outbound marketing
• Inbound marketing

Organize these options into the right categories

Groups:

(a) INBOUND MARKETING

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(b) OUTBOUND MARKETING

• Direct mail postcards

• An interactive calculator for a product website

• Provide free webinars

• Search engine optimization (SEO)

• Social media advertising

• Print and radio ads

______ ____ is buying goods and services not for their intrinsic value but to impress others in hopes of improving one’s social status.

Drag and drop each item below to classify it as probably an example of conspicuous consumption or probably not an example of conspicuous consumption.

Groups:

(a) Probably Conpicuous Consumption

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(b) Probably Not Conspicuous Consumption

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