Theme One

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Design Mix
Function, aesthetic and cost
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Promotion
Activities designed to communicate with the market thereby increasing visibility and sales of a product.
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Elements of the Promotion Mix
Public relations, branding, merchandising, sales promotions, direct selling and advertising.
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Price
The amount of money that the customer has to pay to receive the good or service.
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Cost Plus
A percentage mark up is added to the cost of producing a product to calculate the selling price.
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Price Skimming
Setting a high price initially for a new product in order to recoup costs and gradually decreased over time.
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Price Penetration
Setting prices low in order to break into a new market.
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Predatory Pricing
Large firms will set their prices low in order to force smaller businesses out of the market.
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Competitive Pricing
Prices are based on the prices charged by competitors.
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Psychological Pricing
Setting prices to sound cheaper than it is - £9.99 instead of £10
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Ways To Build A Brand
USP, Advertising, Sponsorship, Use of social media.
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Other cards in this set

Card 2

Front

Activities designed to communicate with the market thereby increasing visibility and sales of a product.

Back

Promotion

Card 3

Front

Public relations, branding, merchandising, sales promotions, direct selling and advertising.

Back

Preview of the back of card 3

Card 4

Front

The amount of money that the customer has to pay to receive the good or service.

Back

Preview of the back of card 4

Card 5

Front

A percentage mark up is added to the cost of producing a product to calculate the selling price.

Back

Preview of the back of card 5
View more cards

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