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Marketing: Pricing Method, Communication, Budgets, Training

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1. William, the owner of King Willie's Mattresses & Recliners, has seen a recent increase in competition and needs to find a way to drive revenue through the use of pricing. As the boss and owner, he sets the prices but he lacks the understanding of how price influences consumer psychology when he sets prices. What should King Willie be most focused on as he selects the pricing method to ensure that he considers the impact on consumer's psychology?

2. Desiree' is a newly minted manager of the local Irish Pub that focuses on serving quality Russian food. A unique position in a very crowded market and she is having a hard time communicating the unique value of visiting her Irish Pub to potential customers. You have been hired as a consultant to explain the fundamental elements of effective communication in order to help her determine whether she should focus on the micro model, the macro model or a combination of both communication process models to best communicate her value proposition to customers.

3. Professor Brey has decided that his days of educating the future business leaders in the art and science of marketing are over. He has decided to pursue his first passion and that is to open a BBQ food truck focusing on authentic Cuban BBQ. That's right - giving up the lectern for the BBQ trailer! However, as he transitioned to his new career he forgot everything about which factors are most important in establishing an advertising budget and how that impacts the selection of the right print media to communicate his message to potential customers - those living and working in Downtown St. Paul on lunch break. That being said, what questions would you recommend Professor Brey ask when selecting the print ad and how would specific budget factors impact his selection?

4. Our debate in sales is about the impact of training versus selection in developing an effective sales force. Some observers maintain that the best salespeople are "born" that way and are effective due to their personalities and all the interpersonal skills they have developed over a lifetime. Others contend that application of leading-edge sales techniques can make anyone a sales star. Take a position: The key to developing an effective sales force is selection versus the key to developing an effective sales force is training.

5. Marketing Excellence - Mayo (Chapter 13). 1) Explain why Mayo Clinic is so good at customer service. Why has it been so successful at practicing medicine differently from other hospitals? 2) Do conflicts of interest exist between wanting to make your patient happy and providing the best medical care possible? Why or why not?

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Solution Summary

The response provides you a structured explanation of five marketing questions. It also gives you the relevant references.

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1. You should say King Willie should be most focused on as he selects the pricing method to ensure are odd pricing, bundle pricing, and discount pricing. A perception of value or discount is experienced by the customers when the use of 9 is used in pricing. Odd numbers are associated by customers with lower prices than even numbers(1). Similarly, giving an item free with purchase creates a perception of savings. One alternative is to offer buy one get one free. Also discount pricing when combined with availability encourages customers to purchase. For example, King may offer a one day sale. Finally, King may price some of his products "premium". For this strategy he must be able to create exclusiveness around these products.

2. Currently, Desiree is a manager of a local Irish Pub, serves quality Russian food, and is uniquely located in a crowded market. She should use the micro model of communication. Since the local Pub has high involvement with customers and has high differentiation. The micro communication model appropriate is learn feel do sequence. Desiree must first create awareness. She must communicate the unique features of her Pub to at least 70% of visitors to ...

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