UNDERSTANDING BUSINESS LL W/CONNECT
UNDERSTANDING BUSINESS LL W/CONNECT
12th Edition
ISBN: 9781264759927
Author: Nickels
Publisher: MCG
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Chapter 14, Problem 4DCS
Summary Introduction

To discuss: The influence of psychological pricing on the consumer.

Introduction: Deciding the price of the product by the estimation of the emotional response of the targeted market on the product is known as the psychological pricing.

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1. Give one new distribution channels for Virtual Assistance (freelance business) - show a visual aid (chart/diagram) to illustrate the flow. - explain the rationale behind the recommendation. (e.g., increased market reach, improved customer experience, cost-efficiency). - connect the channel to the marketing mix: (How does it align with the overall marketing strategy? Consider product, price, promotion, and place.).  - define the target audience: (Age, gender, location, interests, etc.).  - lastly, identify the potential participants: (Wholesalers, retailers, online platforms, etc.)
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