Question

Integrated marketing communications (promotion)

• We don’t want to confuse the customer.
• We need to talk to each target audience in terms that they identify with.
• Are these two statements contradictory? Discuss.

Promotional objectives: (chart on page 197)

• How does the category of goods and its phase in the product life cycle affect the promotional strategies the firm might use?
• What strategies could be used for unsought goods?

Push/pull strategies: Can I use both strategies or only one at a time?

Advertising: examples good and bad

Personal selling

• Is anyone employed in sales? What are the tasks? Your challenges? The obstacles?

Sales promotion

• Can you give examples?

Publicity

• It’s “free”. It’s tough to control. Can you give an example?

Price in the marketing mix

           

Pricing objectives

• Profit maximization: a good economic theory but can you know for sure?
• Market-based: match the competition
• Volume
• Prestige
• Everyday low pricing/discount pricing
• Alternative Pricing Strategies
  • Skimming
  • Penetration
  • Cost-based
• Breakeven analysis

How do consumers “see” prices?

• The price-quality relationship
• Odd-even pricing

Answer 1