AEDRIAN NICOLE G. VILLANUEVA . (HRS-1D) MKTG REVIEWERS .

1. 2 Factors to consider in Pricing -

Internal Factors.
Extemal Tactors
2. Target Profit - where prices are set towards attaining a satisfactory rate of return
3. Cost- Plus Pricing- This is the simples pricing method where in a standard markup is
added to the cost of the product.
4. Competitive Pricing Strategy- where prices are set to exploit a firms competitive position
5. Random Discounting - Random discounts cohnot be predicted by the consumers
6. Image pricing- makes use of high price to signal high quality and uses the profit it makes
from higher priced versions to subsidize (to finance or fund) the price of lower priced
version.
7. Priice Bundling- the pasic idea of price bundling is that buying the whole bundle is
cheaper than buying the parts separately
8. Marketing Objectives - The first decision to be made by the compary is to set overall
strategy
9. Cost- Are another internal factor that sets the floor for the price that the compony can
charge.
10. Generic Strategy - There are at least three ways to gain and maintain competitive
advantage for a firm.
11. Customer - is an individual Or organization that has an existing of potential exchange
relationship with a marketer.
12. Leadership- External customer satisfaction activities not aligned with internal customer
satisfaction activities are of doubtful (unsure or suspicious)value.
13. Acknowledge- What the customets are saying. Address the customer by name. This will
convince the no customer that you are really listening.
14. Comment Cards - Obvious limitations are low, responses rates a tendency towards
extremes, and the lack of control over who fills them out.
15. Patience- Is crucial for customers service professionals.
16. Arting skills - Every great customer service professional needs basic acting skills to
maintain their usual cheery persona in spite of dealing with people who are just plain
grumpy (irritable).
17. Need segmentation- A major way to segmentize a market is by identifying consumer
needs and wants.
18. Socio-Demographics Segmentation- Market segmentation most often starts with
demographics. Demographic segmentation deals with questions such are “Who are you”
and “How much do you earn” and is commonly used when planning and allocating selling
efforts.
19. Industrial Segmentation- Business-to-business marketing has fewer buyers who order in
larger quantities and has more levels of decision- makers.
20. Pay- Consumer need or interest is not enough. There must be enough purchasing power
for the consumer to be able to pay for the product.
21. Authority and Availability- Persons below 18 years of age, for example, are not a legal
market for cars and alcoholic beverages. They have no authority to use these products.
22. Durables- Which have a long interval between repeat purchases.
23. Non-Durables- Which have stronger repeat purchases.
24. Services- Which are essentially intangible because there are no physical products
involved.
25. Risk- Which is the buyer’s subjective feeling about the consequences of a making a
purchase mistake.
26. Effort- Which is the amount of money, time, and energy the buyer is willing to spend to
purchase a given product.
27. Convenience Product- Are the lowest risk and lowest effort products where either none or
very small decision-making is made by target consumers before buying these products.
28. Shopping Product- Are products, which consumers feel are worth the time and effort to
compare with other competing products.
29. Specialty Product- Are unique, customized products which have their own niches (role or
function).
30. Formal Product- is the physical or the tangible product, augmented (improved).
31. Products- are the “extras” built-in into the formal product,
32. Core Product- Is the generic (standard or basic) benefit that each product gives.
33. Product Quality- Quality has to be consistent with other elements of the marketing mix. A
premium base price strategy has to reflect the quality a product offers.
34. Product Branding- One of the most important decisions a marketing manager can make is
about branding.
35. Product Design- Will the design be the selling point for the organization as we have seen
with the iPad, the new VW Beetle or the Samsung Tablet.
36. Point of Purchase- Good packaging design influences what’s known as “point of
purchase” decision making.
37. Promotions- Are an important tool of package marketing and increase point of purchase
buying. Cereal makers often use toys and books in the front of the box to prompt
spontaneous (unplanned) purchases.
38. Displays- Point of purchase displays are also often used in conjunction with colorful
product packaging to increase visibility.
39. Placement- Improve and increase display by renting island displays at call A
supermarkets reinforced with more attractive point-of-purchase shelf takers and price
tags.
40. Price- Offer a lower price at their regular product line to temporarily discourage trial of
40.
the new product.
41. Branding- It is almost alive, like a person. It brings benefits to consumers. It assumes
responsibility.
42. Positioning- It enables the owner to communicate the benefits of his product vis-à-vis
competition.
43. Inadequate Market Analysis- Inability to determine market demand, buying motives and
overestimation of potential sales of the new product which can be the result of
insufficient marketing information.
44. Product Advantage- Emphasizing that the new product is of better quality and has a more
reasonable price than products of competitors.
45. Marketing Advantage- . Using greater number of distribution outlets or intensive
(thorough or serious) distribution, as applicable to the new product, compared to
competitors.
46. Advertising Advantage- Greater number of mass media usage or effective advertising
copy structure.
47. Product Line- Is a broad group of products intended for essentially similar uses and
having similar physical characteristics.
48. Product Mix- Is a set of all products offered for sale by a company.
49. Green Marketing- It refers to the process of selling products and/ or services based on
their environmental benefits.
50. Pricing Strategy- Refers to method companies use to price their products or services.
Almost all companies, large or small, base the price of their products and services on
production, labor and advertising expenses and then add on a certain percentage so they
can make a profit.