Instructions

In 150 words (minimum), respond to the questions below. At least 1 source (cited in APA style) is required to support your work.
What kinds of legal consumer purchases are ones for which you’ll spare no expense, in other words, purchases that are necessary or “must-haves” to you? Why?

What kinds of legal consumer purchases do you make where you try to spend as little as possible? Why?
Considering your answers to the questions above, what are the major differences between these two categories that determine how much you are willing to spend? (Use your readings this week to support your response.)

How much influence does the distribution/place (retail and/or website) have on your purchasing decision of a consumer good/service?
Remember to cite in APA style the source(s) you use to support your work. Please list your reference citation(s) at the bottom of your Word document.

Week 8: Product and Distribution Strategies—Promotion and Pricing
We will focus on a multitude of important concepts this week, including positioning, brand equity, wholesale, the wheel of retailing, logistics, Integrated Marketing Communications (IMC), Product Life Cycle, sponsorships, and cooperative advertising. One of this week’s foundational concepts is the marketing mix, which contains four major elements: product, distribution (place), promotion, and price. As you examine each of these four elements, you will soon realize their independence and dependence on one another when pitching offers that appeal to a select consumer group (target market).
Assignment Citation Expectations – APA: Reminder: At least 1 credible source must be used to support your work on this week’s assignment. Your source(s) must be cited using APA-style format.

Web Link 1:

Web Link 2:

Web Link 3:

Week 8 Vocabulary Terms

Review the following terms to help you find success in this course and program, as well as in your future career in business:
Positioning

A form of promotion by which marketers attempt to establish the identity and value of their products in the minds of customers by communicating to buyers meaningful distinctions about the attributes, price, quality, or use of a good or service.
Personal Selling

The most basic form of promotion is a direct person-to-person promotional presentation to a potential buyer.
Guerrilla Marketing
Innovative, low-cost marketing efforts designed to get consumers’ attention in unusual ways.
Consumer Price Index (CPI)
Measurement of the monthly average change in prices of goods and services.
Sales Promotion

Consists of types of promotion such as coupons, product samples, and rebates that support advertising and personal selling.
Pushing Strategy
Personal selling to market an item to wholesalers and retailers in a company’s distribution channels.
Penetration Pricing
Strategy that sets a low price as a major marketing weapon.
Break-even Analysis
Pricing-related technique used to determine the minimum sales volume a product must generate at a certain price level to cover all costs.
Trademark

A brand that has been given legal protection.
Intensive Distribution
This approach places special emphasis on getting the product in nearly every available outlet.

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