What Are the Three Basic Tasks of Promotion

question 48

Multiple Choice

What are the three basic tasks of promotion?

• A)informing, persuading, and convincing
• B)persuading, convincing, and reminding
• C)informing, persuading, and reminding
• D)persuading, comparing, and reminding

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Definitions:

Skimming Pricing

A pricing strategy where a high price is initially set for a new or innovative product, with the price possibly being lowered later after the initial market demand is satisfied.

Penetration Pricing

A pricing strategy where a product is initially sold at a very low price to rapidly gain market share.

Pricing Strategies

Pricing strategies are methodologies or approaches used by companies to set the selling prices of their products or services, based on factors like cost, competition, and perceived value.

Customer Demand

The requirement for products or services from end consumers at any given time.