Marketing Essentials

Section 1: Price Planning Considerations

After You Read Online Action

Key Terms and Concepts

1. One example from this section is Wal-Mart's slogan, "Always Low Prices. Always." This is a perfect example of how a company can use price as the main thrust of its promotion and image as a value-oriented retailer.
2. Increasing market share is done by increasing advertising expenditures, making changes in product design, and creating new distribution outlets.
3. Examples may include: quality or uniqueness of product, convenience of business location or hours, and level of service.

Academic Skills

4. 53.8 percent rate of return on investment; $10 – 6.50 = $3.50; $3.50 ÷ 6.50 =. 53846
5. The cost of renting a venue may differ as well as the residents' standard of living, and demand for the various performers. Residents in different areas of the country and in different countries may place a different value on seeing a given concert. In other countries, you must also take the exchange rate into consideration and any special fees that performers may have to pay for the right to perform.