Price skimming strategy Study guides, Class notes & Summaries
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AIPMM CPM Certification Questions and Answers Rated A+
- Exam (elaborations) • 11 pages • 2023
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AIPMM CPM Certification Questions and Answers Rated A+ Product lifecycle stages 1. Introduction 2. Growth 3. Maturity 4. Decline 
Product manager Product Managers investigate, select, and drive the development of products for an organization, performing the activities or product mgmt. 
Product Marketing Manager Act as the voice of customer to the rest of the product team and company. 
Business Model Framework that describes the rationale of how an org. creates, delivers, and captures value 
Reas...
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AIPMM - CPM PRACTICE EXAM 2023
- Exam (elaborations) • 14 pages • 2023
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intangibility 
inseparability 
variability 
perishability - Nature and characteristic of a service 
 
Product 
Price 
Promotion 
Place - What are the 4 Kotler's Market Strategies? 
 
Intensity of Competitive Rivalry 
Threat of New Entrants 
Threat of Substitute 
Bargaining Power of Customers 
Bargaining Power of Suppliers - What are Porter's 5 forces? 
 
Conceive 
Plan 
Develop 
Qualify 
Launch 
Deliver 
Retire - What are the 7 phases of PLC? 
 
Conceive 
Plan 
Develop 
Qualify - What are the ...
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MGT 103 BATES MIDTERM questions and answers 100% correct
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MGT 103 BATES MIDTERM questions and answers 100% correct 
marketing 
started production based; engineers 
the activity, set of institutions, and processes for creating, communicating, deliver- ing, and exchanging offerings that have value for customers, clients, partners, and society at large 
 
 
 
Eras of marketing 
1. production 
2. sales era 
3. marketing concept era 
4. customer relationship era 
 
 
 
need 
precedes a want; underlying necessity 
-basic physical and psychological needs 
 
 ...
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AIPMM - CPM PRACTICE EXAM QUESTIONS AND ANSWERS ALREADY PASSED
- Exam (elaborations) • 33 pages • 2024
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AIPMM - CPM PRACTICE EXAM 
QUESTIONS AND ANSWERS ALREADY 
 
PASSED 
 
Nature and characteristic of a service intangibility 
inseparability 
variability 
perishability 
 
What are the 4 Kotler's Market Strategies? Product 
Price 
Promotion 
Place 
 
What are Porter's 5 forces? Intensity of Competitive Rivalry 
Threat of New Entrants 
 
Threat of Substitute 
Bargaining Power of Customers 
Bargaining Power of Suppliers 
 
What are the 7 phases of PLC? Conceive 
Plan 
Develop 
Qualify 
Launch 
Del...
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BUAD 332 Exam 3 Questions With Complete Solutions, Graded A+
- Exam (elaborations) • 22 pages • 2024
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Narrowly, what is a price? - Answer-Narrowly, price is the amount of money charged for a product or 
service 
Broadly, what is a price? - Answer-Broadly, price is the sum of all values that consumers exchange for the 
benefits of having or using the product or service 
Price is not just money, think of price as - Answer-sacrifice 
Example of price - Answer-$88 boots from amazon versus exact same pair at Dillards for $88 as well. 
The price here is wait-time, trying them on, or convenience. 
The ...
And that's how you make extra money
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AIPMM - CPM PRACTICE EXAM QUESTIONS AND ANSWERS GRADED A+
- Exam (elaborations) • 20 pages • 2023
- Available in package deal
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- $9.49
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intangibility 
inseparability 
variability 
perishability - --Nature and characteristic of a service 
Product 
Price 
Promotion 
Place - --What are the 4 Kotler's Market Strategies? 
Intensity of Competitive Rivalry 
Threat of New Entrants 
Threat of Substitute 
Bargaining Power of Customers 
Bargaining Power of Suppliers - --What are Porter's 5 forces? 
Conceive 
Plan 
Develop 
Qualify 
Launch 
Deliver 
Retire - --What are the 7 phases of PLC? 
Conceive 
PlanDevelop 
Qualify - --What are the ...
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MAR 3023 Exam 2 Questions With Complete Solutions, Graded A+
- Exam (elaborations) • 33 pages • 2024
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Core Product Benefits - basic level of benefits that the product has to offer to fit into the product 
category (ex. drill must drill holes) 
Expected Product Benefits - beyond the core benefits that consumers expect from the product 
(ex. durability, warranty, reliability, fair price, etc) 
Augmented Product Benefits - beyond what customer expects & thus beyond what the 
competition provides (ex. replacing a 30 year old drill, Ford app) 
Product Features - aspects that are built in to the produ...
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ASU MKT 300 EATON EXAM 4
- Other • 9 pages • 2024
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Internal/External Factors of Price - Answer-Internal Factors of Price: 
1. Marketing Objective 
2. Marketing Mix Strategy 
3. Cost 
 
External Factors of Price: 
1. Demand for your product. 
2. Competition 
3. Economy 
 
Price Elasticity - Answer-Elastic - Consumers buy more or less of a product when the price changes 
 
Inelastic- An increase or decrease in price will not significantly affect demand 
 
What happens to price/revenue when the demand is elastic/inelastic - Answer-Demand is... Pr...
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MKT 300 Eaton Final
- Other • 11 pages • 2024
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3 internal pricing factors - Answer-1) Marketing Objectives- maximize profit, gain market share etc. 
2) Marketing Mix strategy- price consistent with 3Ps 
3) Costs 
 
3 EXTERNAL pricing factors - Answer-1) demand for your product 
2) competition (competitors prices, stregntgh of competition) 
3) economy- cost of components, economic conditions 
 
inelastic demand - Answer-means that an increase or decrease in price will not significantly affect demand. products that do not have many substitutes...
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MKT-315 FINAL EXAM questions and answers graded A+ 2024/2025
- Exam (elaborations) • 7 pages • 2024
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MKT-315 FINAL EXAMProfit Equation - correct answer Total Revenue - Total Cost 
 
Pricing Strategy: Penetration Pricing - correct answer Low price to increase sales and market share. 
 
Pricing Strategy: Skimming Pricing - correct answer Starts out with a high price and slowly lowers it to fit the market. 
 
Pricing Strategy: Competition Pricing - correct answer Setting prices nearly equal to competitors. 
 
A cable company may start out with a low price to get subscribers. Eventually, price ...
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