| Planning | Pricing | Promotion | Research | Selling/Distribution |
|---|---|---|---|---|
|
What is Planning
All the decisions a business makes in the production and sales of its goods and services.
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What is Pricing
Deciding how much to charge for goods and services
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What is Promotion
Any form of communication used to inform, persuade, or remind people about business’s products, and improve it’s public image.
|
What is Research
The process of collecting the marketing information needed to make sound business decisions
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What is Selling
Providing customers with
goods and services they want to buy |
|
What time frame should our strategic plan cover
Your strategic plan should look as far into the future as you’re comfortable looking.
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What is a “reasonable price?”
Whatever the customer is willing to pay.
|
What is advertising with a goal of selling the item being promoted.
What is Promotional Advertising
|
Published data that has been collected for some other purpose
What is secondary research
|
Direct communication by a salesperson to potential customers either in person or by telephone
What is Personal Selling
|
|
When should we change or update our strategic plan
An annual review of your strategic plan helps ensure the key elements in your plan are still valid
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What are three markets where you think time-varying prices mainly help to take advantage of differences
Answer will vary
|
A short term incentive to get consumers interested in buying a product
What is Sales Promotion
|
The effectiveness of the various media to advertise a good or service
What is media research used to determine
|
What is a follow up?
to continue to follow persistently
|
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How many measures should our strategic plan include
At each level in your organization the enterprise level, division level, and department level we recommend having 20-30 measures
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When do you know when your product is overpriced
When Sales are down
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What are the three types of promotion?
Personalized Promotion Mass Promotion Mass Personalization
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What is product research used for
to gather information about a competing product
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What is Seller's Market
a market in which there is a shortage of particular goods or services for sale
|
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How do we make our strategic plan flexible to allow for changes
The best way to make your strategic plan flexible is to have a clear distinction between your goals
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What is cost-plus pricing
This type of pricing involves summing the total unit cost of providing a product or service? And adding a specific amount to the cost to arrive at a price.
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How do people advertise
With Busses, Media, TV, Magazines, etc
|
What is defined by marketing intelligence research
potential target markets for a particular product or service and how to reach potential customers
|
What is discount
a reduction in the price
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