Mktg 201 Midterm 2 Byu (100% Verified Answers)

sales promotion {Ans: Short-term incentives to encourage the purchase or sale of a product or service Coupons Rebates Samples Contests Premiums Price packs}Price is determined by what? {Ans: what the consumer is willing to pay, not the cost to manufacture, distribute, and promote}Social Media and Marketing Strategy {Ans: reach, engage, convert}persuasion {Ans: % state the key benefit}cost-plus pricing {Ans: know own costs, but not much about competitors and customers Understand Customers: No Understand Competitors: No}3 types of brands {Ans: Functional Image Experiential}