FINAL REVIEW FOR BMI UNIT 5 TEST

What is the arrow demonstrating in this print ad?

Media Rates and Measurement: The number of homes or people exposed to an ad

Price plays a major role in a firm's:

This Pricing Policy involves offering a major product at a low price possibly even a loss.

( Which promotional strategy is this?): Setting up a display of products next to the cash register

Media Rates and Measurement: The number of times the audience sees or hears the advertisement.

This Pricing Strategy takes advantage of customers' perception and emotions to influence buying decisions.

This Pricing Policy involves price reductions offered by the seller to increase the volume of purchase

 Dark Patterns: This happens when you set out to do one thing, but the design covertly alters the action.

To effectively market a brand, marketers must know where the brand is in terms of the Product Life Cycle

Advertising Influence: People will do things that they see other people are doing

A mix of advertising, personal selling, and trade discounts are used by manufacturers to promote their product.

Non-personalized promotion in which companies pay to promote ideas, goods, or services

Types of Media Advertising: Newspapers, magazines, flyers, direct mail, catalogs

The price you can charge is determined by the value or anticipated satisfaction that a buyer places on your product!

What is the arrow demonstrating in this print ad?

Dark Patterns: This design strategy makes you feel bad for opting out of a service.

How ready are you for this test?

What is the arrow demonstrating in this print ad?

Coca-Cola outlining their support for equitable access to education would be an example of product promotion.

Types of Media Advertising: Digital billboards in arenas, tv screens at gas stations, giveaway products

Advertising Influence: People are easily persuaded by other people that they like, also ties into the “Halo effect”

 A product/service offered to the consumer at a substantially reduced cost

 Setting a high initial price for a unique product, then gradually lowering the price over time as competitors appear.

Types of Media Advertising: Billboards, posters, displays, transit

Dark Patterns: Where users find it easy to get into a particular situation but challenging to get out.

Requires sales representatives to generate and maintain direct contact with prospects and customers

Advertising Influence: People tend to return a favor, thus the abundance of free samples in marketing.

What is the goal of pricing?

Give the consumer a deal on one item, but forces them to buy other products at normal prices in order to get the deal

 A markup is added to the total cost of producing a product to determine its selling price.

Setting a low initial price to attract customers and gain market share, then gradually raising the price.

Used to address individuals directly and not through a third party medium. Goal is to generate sales leads or incentive.

The Push Policy is used by retailers while the Pull Policy is used by manufacturers.

This Pricing Strategy involves setting prices very low with the intent to drive competitors out of the market

Dark Patterns: Tricks users into publicly sharing more information than they intended to.