Marketing Strategies and Distribution Channels

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Questions and Answers

What influences marketers when making pricing decisions?

Competitors' pricing only
Marketing campaigns
Costs, demand, revenue, and the pricing environment (correct)
Only consumer preferences

Which pricing strategy focuses on setting prices based on how consumers perceive value?

Cost-plus pricing
Competitive pricing
Value-based pricing (correct)
Dynamic pricing

What is a key component of logistics in the context of distribution channels?

Setting prices
Developing advertising strategies
Identifying target markets
Managing the flow of goods (correct)

What psychological aspect is often considered in pricing strategies?

<p>Price anchoring (D)</p> Signup and view all the answers

Which of the following is NOT a type of wholesaling intermediary?

<p>Retailer (D)</p> Signup and view all the answers

Flashcards

Pricing

The process of determining the price of a product or service. It involves considering various factors such as costs, demand, revenue, and the competitive environment.

Cost-Plus Pricing

A strategy that focuses on setting prices based on the costs of production and a desired profit margin. This approach is relatively simple to implement but may not be the most profitable.

Value-Based Pricing

A pricing strategy that focuses on the value that a product or service provides to customers. This involves considering the benefits and perceived value of the product or service.

Distribution Channel

The path that a product takes from the manufacturer to the final customer.

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Logistics

The process of planning, implementing, and controlling the efficient flow and storage of goods, services, and related information from the point of origin to the point of consumption.

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Study Notes

Pricing Strategies

Understanding the importance of pricing and how marketers set objectives for pricing strategies is key.
Marketers utilize costs, demand, revenue, and the pricing environment to make informed pricing decisions.
Knowing key pricing strategies and tactics is crucial.
Opportunities in internet pricing strategies and innovations in payment are significant.
The psychological, legal, and ethical aspects of pricing need to be considered.
Understanding job compensation, setting realistic expectations, and improving chances of securing a first job are important.

Distribution Channels

Understanding distribution channels, identifying wholesaling intermediaries, and different types of distribution channels are important.
Planning a distribution channel strategy through the steps involved is necessary.
Logistics and supply chains concepts are significant factors for effective distribution.
Preparation for job interviews to maximize chances of employment is essential.