What are the three capabilities, or goals of promotion? Give at least one example for each of how promotion achieves this goal.
What will be an ideal response?
Goal One: To Inform
Indicate features when introducing new products or making product modifications
Provide explanation of product functionality
Articulate what a company and its brands stand for in order to develop a clear image
Discuss various uses and applications for the product
Goal Two: To Persuade
Impact customer perceptions of a product, especially in comparison to competitor's products
Get customers to try a product, hopefully resulting in a more permanent switch from a competitor
Influence customers to purchase right now due to some strong benefit or need
Drive customers to seek more information online or through a salesperson
Goal Three: To Remind
Maintain a customer relationship with a brand
Provide impetus for purchase based on some impending event
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Nico is 30 years old and will retire at age 65. He will receive retirement benefits, but the benefits are not going to be enough to make a comfortable retirement life for him
Nico has estimated that an additional $25,000 a year over his retirement benefits will allow him to have a satisfactory life. How much should Nico deposit today in an account paying 6 percent interest to meet his goal? Assume Nico will have 15 years of retirement.
The sales analysis of a product revealed that profits were highest when it was initially introduced into the market with a high selling price. However, the price was gradually reduced as it started facing competition, as substitutes entered the market. This is an example of
A. a one-price policy. B. introductory price dealing. C. a skimming price policy. D. a temporary price cut policy. E. a penetration price policy.
Does your jurisdiction anticontact rule cover represented persons or parties?
What will be an ideal response?
Ralph Watkins is a real estate attorney who owns 10% of United Escrow. Ralph refers all of his real estate clients to United for their closings. Which of the following statements is correct?
A)?Ralph has violated RESPA because there is a kickback. B)?Ralph is not subject to RESPA because he is an attorney, not a real estate broker. C)?Ralph can make the referral, but must disclose his ownership interest in United. D)?None of the above