| The Price is Right | The Customer is Always Right | Branding | Promotion |
|---|---|---|---|
|
Matching your price with the competitors price
What is status quo pricing?
|
False, it is perceived value
What a customer believes or perceives something is worth is called real value. True or False?
|
Points of Difference
What are attributes or benefits that consumers strongly associate with a brand, and believe they could not find in a competitive brand
|
Integrated Marketing Communications
The coordination & strategizing of all promotional messages for a consistent and interconnected approach at the consumer is called
|
|
Setting high prices to attract buyers with higher purchasing power and desire for the product
What is Market Skimming Pricing
|
Target Market
What is the specific group of people that will most likely seek out your product or service
|
Brand Extension
What refers to the use of a successful brand name to launch a new or modified product in the same market
|
Unique Selling Proposition
What is the desirable and exclusive appeal that will be selected as the theme for a promotional campaign
|
|
Setting prices slightly lower to convince customers what they’re buying is cheaper than it is
What is Psychological Pricing
|
Wants
What are human needs shaped by culture and individual personality?
|
Brand Association
What refers to all brand-related thoughts, feelings, perceptions, images, experiences, beliefs, attitudes
|
Flanking Marketing
What strategy aims to capture a market segment that is not being given attention by the competitor
|
|
a measure of how the market responds to price changes
What is Price Elasticity
|
Cognitive & Behavioral
What are the two sides of shopping attitudes and behavior that have different characteristics and define their preferences?
|
Generic Brand
What are products that do have or carry a company identity
|
Guerilla Marketing
What marketing technique focuses more on creativity and aims to create an unconventional approach with high-impact impression
|
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