Consider the following three pricing methods CC could use for its existing products. Which pricing method should CC use? Justify your answer. - Cost-plus - Promotional - Competitive Cost-plus: ..................................................................................................................... ....................................................................................................................................... ....................................................................................................................................... ....................................................................................................................................... ....................................................................................................................................... ....................................................................................................................................... Promotional: ................................................................................................................. ....................................................................................................................................... ....................................................................................................................................... ....................................................................................................................................... ....................................................................................................................................... ....................................................................................................................................... Competitive: .................................................................................................................. ....................................................................................................................................... ....................................................................................................................................... ....................................................................................................................................... ....................................................................................................................................... ....................................................................................................................................... Recommendation: ........................................................................................................ ....................................................................................................................................... ....................................................................................................................................... ....................................................................................................................................... ....................................................................................................................................... .......................................................................................................................................
Exam No：0450_w24_qp_21 Year：2024 Question No：4(b)
Answer:
Knowledge points:
3.3.1.1 the 4Ps: Product, Price, Promotion, Place (distribution channels)
3.3.2.1 the difference between goods and services
3.3.2.2 tangible and intangible attributes of products
3.3.2.3 the importance of product development
3.3.2.4 product differentiation and unique selling point (USP)
3.3.3.1 product life cycle and decisions about extension strategies
3.3.3.2 Boston Matrix analysis and its uses
3.3.3.3 impact of product portfolio analysis on marketing decisions
3.3.4.1 objectives and usefulness of different pricing methods: competitive, penetration, skimming, price discrimination, dynamic, cost-based and psychological
3.3.5.1 the objectives and usefulness of different promotion methods
3.3.5.2 advertising promotion
3.3.5.3 sales promotion
3.3.5.4 direct promotion
3.3.5.5 developments in digital promotion
3.3.5.6 the role of packaging in promotion
3.3.5.7 the role of branding in promotion
3.3.6.1 the objectives and usefulness of different channels of distribution
3.3.6.2 digital and physical distribution
Solution:
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