Marketing Communication (Question and Answer)

3733 Words Oct 24th, 2011 15 Pages
Question 1

a) Examine and review critically the four areas of marketing communication. Provide examples where necessary. (10 marks)

b) Explain in detail the basic pricing strategies. Give examples to support your answers. (10 marks)
Question 2

Identify and describe the most often used sources of differentiation.
Give examples to support your answers. (20 marks)

Question 3

Ursula is a marketing manager for a bathroom tile company. She is trying to figure out if her firm needs to utilize a push or pull strategy. What are the differences between a push and pull strategy. (20 marks)

Question 4

Jessica has just been hired as a manager for a new retail store. She is working on creating an effective retail strategy, but
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These pricing strategies represent the three ways in which a pricing manager or executive could look at pricing. Knowing these strategies and teaching them to your sales staff, and letting them know which one they should be using, allows for a unity within the company and a defined, company-wide pricing policy.

i) Promotional Pricing
The objective of promotional pricing is to stimulate short-term increase in sales. This is done by charging a price below the list price or sometimes even below cost for a specified time period. The examples are as follows;
a) Special event pricing
Prices are reduced to commemorate a certain event to attract customers. For example, “ Hari Raya Sale”, “Chinese New Year Sale”, Christmas Sale” and “Back To School Sale”.

b) Cash rebate
Often used within a limited time period to encourage the purchase of a manufacturer’s product. Rebates are also used to move stocks without having to cut the stated list price. c) Longer payment term
Financial institutions such as banks and credit corporations extend their loan periods to enable lower monthly installments to be paid by their customers. For example, in recent years it is common for banks/finance companies to offer car financing for up to 7 years or even 9 years. ii) Geographical Pricing
Variable-pricing method in which a selling price is computed according to the customer's or market's distance or transportation costs incurred.It is also an evident

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