Sonnys Blues Essay

Submitted By jrios24
Words: 421
Pages: 2

1. A. Marketing Mix is a business tool used in marketing and by their professionals. The marketing mix is often crucial when determing a product or brands offering, and is often synonymous with the four Ps: Price, Product, Promotion and place.
B. Promotion Mix is a specific combination of promotional methods used for one product or a family of products. Elements of a promotion mix may include print or broadcast advertising, direct marketing, personal selling, point of sales displays, and merchandising. 2. TEXT SENT 3. A. VCRs – Stage in the product life cycle I believe is decline, because everyone now in the year 2013 has other products that are superior to vcs such as dvd players and blu rays players and the fact that everything that was once on vcrs is now on a cd.
B. Cell Phones- Stage in the product life cycle I believe is Maturity Growth, because cell phones survive by differentiating your product from the similar products offered by competitors.
C. Blue Bell vanilla ice cream- is Growth in the product cycle because they have to advertise their product and show people its great taste and that its worth buying. 4. Cost-plus pricing- Set the price at your production cost, including both cost of goods and fixed costs at your current volume plus a certain profit margin.
Target return pricing- Set your price to achieve a target return on investment.
Value based pricing- Price your product based on the value it creates for the customer.
Popular price point- There are certain “price points” at which people become much more willing to buy a certain type of product. 5. Primary Research is any type of research that you go