Review

These are the aims of promotion, except ….

• explaining how a product is better than competitors’ products.

• persuading consumers to buy the product.

• discouraging wholesalers and retailers to stock the product.

• creating brand image

What are the roles of marketing?

• Identifying and satisfying customer wants, maintaining customer loyalty, and gaining confidence in suppliers.

• Identifying and satisfying customer wants, raising awareness of the production process, and increasing market share.

• Identifying and satisfying customer wants, maintaining customer loyalty, and anticipating changes in wholesaler needs

• Identifying and satisfying customer needs, maintaining customer loyalty, and building costumer relationship.

In this stage, sales are no longer growing but are not failing.

• Development stage

• Growth stage

• Introduction stage

• Maturity stage

… is the general impression of a produce held by consumers

• Brand

• Product

• Brand image

• Costumer loyalty

In this stage, sales are falling.

• Introduction stage

• Maturity stage

• Decline stage

• Growth stage

It refers to setting a price similar to that of competitor's products which are already established in the market.

• Market skimming

• Competitive pricing

• Promotional pricing

• Cost-plus pricing

A … is a small, usually specialised, segment of a much larger market.

• mass market

• market segment

• market share

• niche market

This buys products in bulk from the producer and then sells them to retailers.

• middleman

• retailer

• agent

• wholesaler

This is not included in 4 Ps.

• product

• packaging

• place

• promotion

It refers to setting a high price for a new product that is unique or very different from any other product on the market.

• Market skimming

• Competitive pricing

• Promotional pricing

• Cost-plus pricing