Start a Business Final Review 5

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17 Questions - Developed by: Dan - Developed on: - 2.089 taken

FINAL REVIEW

  • 1
    Usually set by costs, Price>Costs
  • 2
    Maximum Price a P/S can sell for
  • 3
    Critical Pricing factors include:
  • 4
    Motivate ____ Orders
  • 5
    Include:
  • 6
    Be aware:
  • 7
    Skimming the cream, price at top of range providing time to increase inventory
  • 8
    Lower price strategy
  • 9
    Sell benefits not the product/service
  • 10
    Pricing strategies include:
  • 11
    How a business reaches (Informs) its existing and potential market (customers) about its product or service
  • 12
    Key Questions to answer when Promoting your business:
  • 13
    Direct-Sales Force, ManufacturerÂ’s Reps or Sales agents, Lead blockers


    Market Penetration method:
  • 14
    Distributors
    Franchising (TM/Brand name, product distribution, business-format, affiliate)
    Licensing
    Exporting (To what degree of control)

    Market Penetration Method:
  • 15
    Media Advertising (Newspapers, Magazines, TV, Radio)
    Key issues (Market exposure, frequency, drive time, cost)
    Direct mail
    Mail order advertising and catalog operations
    Publicity (customer, news stories, features articles)
    Community involvement
    Promotional gimmicks (give away items)

    Market Penetration Method:
  • 16
    Infomercials
    Fax Marketing
    Electronic Media
    Interactive Kiosks
    Internet-e-mail and websites

    Market Penetration Method:
  • 17
    Trade shows
    Signs/Signage
    Stationary and business cards
    Fliers and handbills
    Yellow Pages
    Coupons
    Postcards

    Market Penetration Method:

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