I believe students will relate to this video on value-based pricing. While costs are important in setting a price, so it understanding the value of that product to buyers.
- According to the video, how do customers perceive value?
- How can you increase the perceived value of a product?
- After watching the video, what role does demand and competition play in setting the price?
In sales and marketing to businesses, perceived risk is an important element to consider. This video explains five types of perceived risk that must be considered.
- What is monetary risk and how can it be reduced for a potential customer?
- What is functional risk and what steps can the seller take to reduce it?
- What is physical risk and why is it important?
- What is social risk and why is it important?
- What is psychological risk and how can it be reduced for a potential customer?
I thought this video would work well with Chapter 10. It provides an insight into how grocery stores design the store layout to maximize profits.
- Why are high volume merchandise items placed around the perimeter of a store?
- What lessons can you learn from the cereal aisle that applies to retail stores in general?
- What is the purpose of endcaps?
- What are power items and where are they placed? Why?
- What types of items are placed near the checkout? Why?
Posted in Chapter10
Hyatt launched a new campaign aimed at business travelers. Instead of focusing on amenities such as WiFi, free breakfast, and comfortable beds, this new campaign uses an emotional approach.
- What are your thoughts about this new approach?
- Do think this new campaign is a better approach than focusing on amenities? Why or why not?
- What are your thoughts about the TV ad?
- For what types of business travelers will this ad be effective? Explain why.
I found this article interesting. The author, Aaron Agius, discusses 10 ways to use emotions to drive traffic to a website.
- From the emotions discussed in the article, which 3 speak to you the most? Why?
- As a consumer, which 3 influence your purchase behavior the most? Why?
- How do emotions relate to the topics of motivation, perception, leaning, and attitude presented in the chapter? Be specific.
I thought this was an excellent video for explaining the basics of marketing. It can be used to introduce Chapter 1, or as a review for the chapter 1.
- Explain the concept of the consumer-side of marketing? Do you agree that this is important? Why or why not?
- Explain the concepts of positioning and targeting.
- What is meant by the term “value proposition?” Why is it important?