Learning Goal: I’m working on a management question and need an explanation and answer to help me learn.
I want to discuss this topic
8.1 Learning Outcomes:
- Explain the differences among promotion, publicity, personal selling, and advertising.
- Explain the differences among promotion, publicity, personal selling, and advertising.
- Describe the advantages and disadvantages of the various advertising media.
- Identify four basic methods for preparing an advertising budget.
- Explain practical methods for stretching an entrepreneur’s advertising budget.
- Explain why pricing is both an art and a science.
- Discuss the relationship among pricing, image, competition and value.
- Describe effective pricing strategies for both new and existing products and services.
- Explain the pricing techniques used by retailers, manufacturers, and service firms.
- Describe the impact of credit on pricing.
8.2 Action Required:
- Watch the short video at the following link
https://www.youtube.com/watch?v=N6UIlptvJAc
8.3 Test your Knowledge (Question):
- How could an entrepreneur use the Internet to advertise his/her business?
- MGT 402
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