principles of marketing// Donaldson Questions & Answers 100% Correct!!
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price variable - ANSWERrelates to decisions and actions associated w/ pricing objectives and policies and actual product prices/
* critical component because customers are concerned about the value obtained in an exchange
affects of price variable - ANSWER- short term solution
- easily copi...
principles of marketing// Donaldson
Questions & Answers 100% Correct!!
price variable - ANSWERrelates to decisions and actions associated w/ pricing objectives and policies
and actual product prices/
* critical component because customers are concerned about the value obtained in an exchange
affects of price variable - ANSWER- short term solution
- easily copied
- Mcdonalds v BK
- cheapens perception of brand
- lowers profits
value - ANSWERsubjective assessment of benefits relative to cost
- product that demonstrates value usually has a feature or enhancement that provides benefits
- lowest price
- availably
- convenience
- meaningful point of difference - allows price to be higher, i.e. Apple
what does marketing create? - ANSWERvalue
customer relationship management - ANSWERCRM- using info about customers to create marketing
strategies that develop and sustain desirable customer relationships.
-ie diaper and baby stuff
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