Learn Marketing

Season/Course 7: Pricing Strategy
Chapter 3: Price Adaptation

Abstract 5
What is discriminatory pricing? Price discrimination is a microeconomic pricing strategy where identical or largely similar goods or services are sold at different prices by the same provider in different markets. Let's understand this marketing concept in more detail in this episode.

Season/Course 7: Pricing Strategy
Chapter 3: Price Adaptation

Abstract 4
What is price discount and allowances? Discount is the price differential that quotes the price so that the buyer pays much less than the quoted price. Discount is an allowance made to the buyers in consideration of marketing services rendered. Let's understand this marketing concept in more detail in this episode.

Season/Course 7: Pricing Strategy
Chapter 3: Price Adaptation

Abstract 3
What is promotional pricing? Promotional pricing is a sales strategy in which brands temporarily reduce the price of a product or service to attract prospects and customers. Let's understand this marketing concept in more detail in this episode.

Season/Course 7: Pricing Strategy
Chapter 3: Price Adaptation

Abstract 2
What is geographical pricing? Geographical pricing, in marketing, is the practice of modifying a basic list price based on the geographical location of the buyer. Let's understand this marketing concept in more detail in this episode.

Season/Course 7: Pricing Strategy
Chapter 3: Price Adaptation

Abstract 1
What is price adaptation? Price adaptation is the ability of a business to change its pricing models to suit different geographic areas, consumer demands, and prevailing incomes. Let's understand this marketing concept in more detail in this episode.

Season/Course 7: Pricing Strategy
Chapter 2: Product Mix Pricing

Abstract 6
What is product bundling pricing? Product bundling is a technique in which several products are grouped together and sold as a single unit for one price. Let's understand this marketing concept in more detail in this episode.

Season/Course 7: Pricing Strategy
Chapter 2: Product Mix Pricing

Abstract 5
What is by-product pricing? A pricing method is used in situations where a saleable by-product results in the manufacturing process. Let's understand this marketing concept in more detail in this episode.

Season/Course 7: Pricing Strategy
Chapter 2: Product Mix Pricing

Abstract 4
What is captive product pricing? captive product pricing is a pricing strategy devised to attract a large volume of customers to a one-time purchase of a lower-priced core (or main) product that requires accessory (or captive) products for the main product to function. Let's understand this marketing concept in more detail in this episode.

Season/Course 7: Pricing Strategy
Chapter 2: Product Mix Pricing

Abstract 3
What is optional feature pricing? Optional product pricing is when a business sets a base product at a lower cost and additional, optional products at a higher price to make up for any losses. Let's understand this marketing concept in more detail in this episode.

Season/Course 7: Pricing Strategy
Chapter 2: Product Mix Pricing

Abstract 2
What is product line pricing? Product line pricing is a product pricing strategy, used when a company has more than one product in a product line. Let's understand this marketing concept in more detail in this episode.

Season/Course 7: Pricing Strategy
Chapter 2: Product Mix Pricing

Abstract 1
What is product mix pricing? Product Mix Pricing Strategy is the strategy for setting a product's price often has to be changed when the product is part of a product mix. Let's understand this marketing concept in more detail in this episode.

Season/Course 7: Pricing Strategy
Chapter 1: Pricing

Abstract 9
What is selecting the final price? In selecting the final price, a company should consider the influence of other marketing mix elements such as the quality of the product, the advertising budget, etc. Let's understand this marketing concept in more detail in this episode.

Season/Course 7: Pricing Strategy
Chapter 1: Pricing

Abstract 8
What is the method for selecting the price? An organization has various options for selecting a pricing method. Prices are based on three dimensions that are cost, demand, and competition. Let's understand this marketing concept in more detail in this episode.

Season/Course 7: Pricing Strategy
Chapter 1: Pricing

Abstract 7
What is analyzing competitors? Competitor analysis also referred to as competitive analysis, is the process of identifying competitors in your industry and researching their different marketing strategies. Let's understand this marketing concept in more detail in this episode.

Season/Course 7: Pricing Strategy
Chapter 1: Pricing

Abstract 6
What is estimating cost? A cost estimate is the approximation of the cost of a program, project, or operation. The cost estimate is the product of the cost estimating process. Let's understand this marketing concept in more detail in this episode.

Season/Course 7: Pricing Strategy
Chapter 1: Pricing

Abstract 5
What is determining demand? The prices of related goods or services—either complementary and purchased along with a particular item, or substitutes bought instead of a product. Let's understand this marketing concept in more detail in this episode.

Season/Course 7: Pricing Strategy
Chapter 1: Pricing

Abstract 4
What is setting the price objective? Pricing objectives refer to the goals that drive how your business sets prices for your product or service. Let's understand this marketing concept in more detail in this episode.

Season/Course 7: Pricing Strategy
Chapter 1: Pricing

Abstract 3
What is setting the price? In setting prices, the business will take into account the price at which it could acquire the goods, the manufacturing cost, the marketplace, competition, market condition, brand, and quality of the product. Let's understand this marketing concept in more detail in this episode.

Season/Course 7: Pricing Strategy
Chapter 1: Pricing

Abstract 2
What are the benefits of pricing? The advantages of a pricing policy lie in its ability to make your product appealing to customers, while also covering your costs. Let's understand this marketing concept in more detail in this episode.

Season/Course 7: Pricing Strategy
Chapter 1: Pricing

Abstract 1
What is the pricing? Pricing is the process whereby a business sets the price at which it will sell its products and services, and maybe part of the business's marketing plan. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 5: Level of Customer Involvement

Abstract 5
What is dissonance reducing? Dissonance-reducing buying behavior occurs when the consumer is highly involved but sees little difference between brands. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 5: Level of Customer Involvement

Abstract 4
What is habitual? When a consumer has a low level of involvement in a purchase choice, this is referred to as habitual buying behavior. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 5: Level of Customer Involvement

Abstract 3
What is variety-seeking? Variety seeking or variety-seeking buying behavior describes a consumer's desire to search for alternative products even if she or he is satisfied with a current product. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 5: Level of Customer Involvement

Abstract 2
What is complex buying behavior? Complex buying behavior occurs when the consumer is highly involved with the purchase and when there are significant differences between brands. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 5: Level of Customer Involvement

Abstract 1
What is the level of customer involvement? A consumer's level of involvement is how interested he or she is in buying and consuming a product. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 4: Purchasing Process

Abstract 9
What is a performance review? A performance review is a formal assessment in which a manager evaluates an employee’s work performance, identifies strengths and weaknesses, offers feedback, and sets goals for future performance. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 4: Purchasing Process

Abstract 8
What is the order routine specification? Order-routine specification is a stage of the business buying process in which the buyer writes the final order with the chosen suppliers, listing the technical specifications, quantity needed, expected time of delivery, return policies, and warranties. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 4: Purchasing Process

Abstract 7
What is supplier selection? Supplier selection is the process by which firms identify, evaluate, and contract with suppliers. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 4: Purchasing Process

Abstract 6
What is a proposal solicitation? A solicited proposal is one that is submitted in response to a specific work statement from the sponsor. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 4: Purchasing Process

Abstract 5
What is supplier search? Supplier search is a stage of the business buying process in which the buyer tries to find the best vendors. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 4: Purchasing Process

Abstract 4
What is product specification? A Product Specification commonly referred to as a product spec is an important product document that outlines key requirements for building a new feature, functionality, or product. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 4: Purchasing Process

Abstract 3
What is the general need description? General need description is the stage in the business buying process in which a buyer describes the general characteristics and quantity of a needed item. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 4: Purchasing Process

Abstract 2
What is problem recognition? In problem recognition, the consumer recognizes a problem or need, or want. The buyer recognizes a difference between his or her actual state and some desired state. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 4: Purchasing Process

Abstract 1
What is purchasing Process? Purchasing is the formal process of buying goods and services. The purchasing process can vary from one organization to another, but there are some common key elements. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 3: Buying Decision Process

Abstract 6
What is post-purchase behavior? The way a person thinks feels and acts after they make a purchase. We're focusing on influencing the action of repeat purchases, but that doesn't mean we can ignore thoughts & feelings. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 3: Buying Decision Process

Abstract 5
What is a purchase decision? The purchase decision is the thought process that leads a consumer from identifying a need, generating options, and choosing a specific product and brand. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 3: Buying Decision Process

Abstract 4
What is the evaluation of alternatives? Evaluation of alternatives is the third stage in the Consumer Buying Decision Process. During this stage, consumers evaluate all of their product and brand options on a scale of attributes that have the ability to deliver the benefit that the customer is seeking. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 3: Buying Decision Process

Abstract 3
What is information search? Information search is a stage of the decision-making process in which consumers actively collect and utilize information from internal and/or external sources to make better purchase decisions. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 3: Buying Decision Process

Abstract 2
What is problem recognition? In problem recognition, the consumer recognizes a problem or need, or want. The buyer recognizes a difference between his or her actual state and some desired state. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 3: Buying Decision Process

Abstract 1
What is buying decision process? The buying decision process is the decision-making process used by consumers regarding the market transactions before, during, and after the purchase of a good or service. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 2: Consumer and Business Buying Behavior

Abstract 9
What are individual and interpersonal factors? An interpersonal factor includes authority, interest, and status. Individual factor includes age, education, job position, risk-taking, and personality. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 2: Consumer and Business Buying Behavior

Abstract 8
What are organizational factors? Organizational factors include the buying objective, policies, process, and organization have major influences on the organizational buying. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 2: Consumer and Business Buying Behavior

Abstract 7
What are environmental factors? The marketing environment refers to all internal and external factors, which directly or indirectly influence the organization's decisions related to marketing activities. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 2: Consumer and Business Buying Behavior

Abstract 6
What is business buying behavior? Business buyer behavior refers to the buying behavior of organizations that buy goods and services for use in the production of other products and services that are sold, rented, or supplied to others. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 2: Consumer and Business Buying Behavior

Abstract 5
What are psychological factors? The key psychological factors to understand when considering consumer behavior are motivation, perception, attitudes, and beliefs, along with lifestyle. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 2: Consumer and Business Buying Behavior

Abstract 4
What are personal factors? Personal Factors are the individual factors of the consumers that strongly influence their buying behaviors. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 2: Consumer and Business Buying Behavior

Abstract 3
What are social factors? Social factors represent another important set of influences on consumer behavior. Specifically, these are the effects of people and groups influencing one another through culture and subculture, social class, reference groups, and family. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 2: Consumer and Business Buying Behavior

Abstract 2
What are cultural factors? In simple words, cultural factors include the values and ideologies of a particular group of individuals. Culture defines social behavior and sets specific standards and values to be followed. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 2: Consumer and Business Buying Behavior

Abstract 1
What is consumer buying behavior? Buying Behavior is the decision processes and acts of people involved in buying and using products. Let's understand this marketing concept in more detail in this episode.

Season/Course 6: Know Your Customer
Chapter 1: Customer Jargon

Abstract 8
What is data mining? Data mining is a process of extracting and discovering patterns in large data sets involving methods at the intersection of machine learning, statistics, and database systems. Let's understand this marketing concept in more detail in this episode.