music disribution 1

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the amount of money charged for a product or service is called what?: PRICE!
T/F: the sum of the values that consumers exchange for the benefits of having or using the product or service is also refered to as price: true
What are some of the internal factors that go into a pricing decision?: Marketing objectives, marketing mix, markeing strategy, costs, and organizational considerations
What are some external factors that go into a pricing decision?: the nature of the market and demand, competiion, and environmental elements
name the types of marketplaces in the economy.: pure competition
monopolistic
oligopolistic competition
pure monopoly
What are the 3 approaches to price setting?: cost-based
value-based
competition based
define inelastic demand: when demand hardly changes with a small change in price
define elastic demand: when demand changes greatly
Name the 3 major pricing strategies: new product pricing
product mixing
price adjustment
what is price fixing?: when competitios cannot work with each other to set prices
What is predatory pricing?: when firms cannot sell below cost with the intention of punishing another competitior or gaining higher profits, or run a competitior out of business.
What is true about the psychological aspects of pricing?: that the price is used to say something aout the product; this is a price-quality relationship
Why is it good to have intermediate partners with regards to supply chain management?: it will maximize profitability from the partners that add value to the product
differntiate the marketing channels in a SCM: direct marketing channel- has no intermediary levels; sells the product directly to the consumer

indirect marketing channel- has more than one intermediary level
What are some tyoe sof retailers?: specialty stores
department stores
supermarkets
discount stores
superstores
What are some types of wholesalers?: rack jobbers
wholesalers
one-stops
drop shippers
What are the 2 types of channel conflict: horizontail-occurs among firms at the same level of the channel

vertical- conflict between diferent levels of the same channel
who exclusivley benefits from publishing?: the songwriters
What is the controlled composition clasue?: an artist gets a pice of its earnings; the songs are controlled by the producer of the recording

this puts a limit on how much the record company has to pay for each composition
What is the"catch all" phrase in a publishing deal?: the writer automatically gets 50% of all other monies not lisetd in the contract

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Deck Info

Number of cards 20

Created By ibmzfinest