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University of Ottawa

Long Answer Questions1Sketch and describe the product life cycle and the consumer adoption life cycle for new products Using a real life example of a product show how these concepts may be used to shape product pricing and promotion strategies 125 marks2What is price skimming Under what conditions is it appropriate to use a price skimming strategy Why do firms use price skimming list the various reasons What are the drawbacks of price skimming 125 marksaHow is the price elasticity for Crest toothpaste likely to be different from the price elasticity for all toothpastes a product category Why are they likely to be different 4 marks3A small manufacturer was once quoted as saying The best day and the worst day of my business life was the day we got a contract from WalMart What type of vertical supply chaindistribution channel is the manufacturer entering Why would the manufacturer say this 4 marks4What are the stages of buyer readiness How might marketing managers developing a communications strategy utilize them 5 marks5Identify 3 sales promotions tools targeted to consumers and discuss the primary objectives for using these tools as well as the strengths and weaknesses of each Provide a reallife clearly explained example for each tool you identified6Using the following Table format identify the stages of the personal selling process and the key decisions and activities at each stageStages of Personal DecisionsActivitiesSelling
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