BU121 Lecture Notes - Lecture 1: Brand Awareness, Sales Promotion, Leading Edge
Document Summary
Get tries to repurchase and attract new customers. Integrated marketing communication, personal selling, and sales promotion. Price skimming is high then low as it moves through plc. Penetration pricing is selling at low price in the hope of achieving a large sales volume. Leader pricing is pricing below the normal markup to attract. Bundling pricing is grouping related products and pricing them as a single product. Odd even pricing is psychological tactic odd bargain even quality. Prestige pricing is increasing price to give the impression of quality. Relevant differentiation are reasons to believe: the leading edge indicator of future market share and profitability, is your brand unique or unique in customer relevant customer compelling way. Awareness: the cornerstone of strong brands, are your target customers and key stakeholders aware of your brand, is it the first one that comes to their mind. Emotional connection: does your brand connect with people on an emotional level.
