Price skimming - Study guides, Class notes & Summaries

AIPMM - CPM PRACTICE EXAM QUESTIONS AND ANSWERS ALREADY PASSED Nature and characteristic of a service intangibility inseparability variability perishability What are the 4 Kotler's Market Strategies? Product Price Promotion Place What are Porter's 5 forces? Intensity of Competitive Rivalry Threat of New Entrants Threat of Substitute Bargaining Power of Customers Bargaining Power of Suppliers What are the 7 phases of PLC? Conceive Plan Develop Qualify Launch Del...

intangibility inseparability variability perishability - Nature and characteristic of a service Product Price Promotion Place - What are the 4 Kotler's Market Strategies? Intensity of Competitive Rivalry Threat of New Entrants Threat of Substitute Bargaining Power of Customers Bargaining Power of Suppliers - What are Porter's 5 forces? Conceive Plan Develop Qualify Launch Deliver Retire - What are the 7 phases of PLC? Conceive Plan Develop Qualify - What are the ...

Core Product Benefits - basic level of benefits that the product has to offer to fit into the product category (ex. drill must drill holes) Expected Product Benefits - beyond the core benefits that consumers expect from the product (ex. durability, warranty, reliability, fair price, etc) Augmented Product Benefits - beyond what customer expects & thus beyond what the competition provides (ex. replacing a 30 year old drill, Ford app) Product Features - aspects that are built in to the produ...

3 internal pricing factors - Answer-1) Marketing Objectives- maximize profit, gain market share etc. 2) Marketing Mix strategy- price consistent with 3Ps 3) Costs 3 EXTERNAL pricing factors - Answer-1) demand for your product 2) competition (competitors prices, stregntgh of competition) 3) economy- cost of components, economic conditions inelastic demand - Answer-means that an increase or decrease in price will not significantly affect demand. products that do not have many substitutes...

MGT 103 BATES MIDTERM questions and answers 100% correct marketing started production based; engineers the activity, set of institutions, and processes for creating, communicating, deliver- ing, and exchanging offerings that have value for customers, clients, partners, and society at large Eras of marketing 1. production 2. sales era 3. marketing concept era 4. customer relationship era need precedes a want; underlying necessity -basic physical and psychological needs ...

Internal/External Factors of Price - Answer-Internal Factors of Price: 1. Marketing Objective 2. Marketing Mix Strategy 3. Cost External Factors of Price: 1. Demand for your product. 2. Competition 3. Economy Price Elasticity - Answer-Elastic - Consumers buy more or less of a product when the price changes Inelastic- An increase or decrease in price will not significantly affect demand What happens to price/revenue when the demand is elastic/inelastic - Answer-Demand is... Pr...

intangibility inseparability variability perishability - --Nature and characteristic of a service Product Price Promotion Place - --What are the 4 Kotler's Market Strategies? Intensity of Competitive Rivalry Threat of New Entrants Threat of Substitute Bargaining Power of Customers Bargaining Power of Suppliers - --What are Porter's 5 forces? Conceive Plan Develop Qualify Launch Deliver Retire - --What are the 7 phases of PLC? Conceive PlanDevelop Qualify - --What are the ...

Ms. Jones is teaching a math lesson. After five minutes, she stops to ask her students some questions. What kind of assessment is she giving? Correct Answer: informal Students in a seventh-grade cohort have been acting very exclusive toward children with disabilities. How might the special educator handle this situation? Correct Answer: Help demystify the student's struggles for others. What is the best way for a teacher to help a special education student transition out of high school?...

UPenn Marketing 101 Final Exam Questions and Answers 100% Pass Dynamic Pricing - Correct Answer ️️ -Adjusting prices continually to meet the characteristics and needs of individuals and situations; setting prices for a good/service based on the demand for it at the moment based on the availability of supply Uber's Surge Pricing - Correct Answer ️️ -Higher demand causes a price multiplier to kick in, increasing rates up to 8x the original price. Model: Increase supply, decrease de...

MKT-315 FINAL EXAMProfit Equation - correct answer Total Revenue - Total Cost Pricing Strategy: Penetration Pricing - correct answer Low price to increase sales and market share. Pricing Strategy: Skimming Pricing - correct answer Starts out with a high price and slowly lowers it to fit the market. Pricing Strategy: Competition Pricing - correct answer Setting prices nearly equal to competitors. A cable company may start out with a low price to get subscribers. Eventually, price ...