Purchase Displays, Coupons and Rebates,

¶ … purchase displays, coupons and rebates, premiums, loyalty marketing programs contests and sweepstakes and sampling induce impulse buying. The book points out the most effective methods influence the consumer at the point of sales. From personal experience, the author has been most influenced by point-of-purchase displays, many times with feature a coupon or a promotion that rewards the purchaser (Lamb, Hair, & McDaniel, 2008, p. 461). Trade sales promotion differs and is the same from consumer sales promotion.

The role of personal selling in promoting products involves personal interaction between a sales representative and a consumer face-to-face. In terms of advantages, it allows the seller to explain things thoroughly, to better tailor the sale, to better target the sale, it offers better managerial control over the sale and is better equipped to close the sale and produce satisfied customers (ibid., p. 468). The demand for Acid All is inelastic. Acid All is targeting the yuppie generation.

These individuals tend to be more affluent and will often choose a boutique product over a normal one. For instance, the president of Acid All in the video made the point that a yuppie would pick Starbucks over a regular coffee due to the appearance and feeling of it being a status symbol or a luxury item. This was the rationale behind the $3.89 suggested retail price ("Digital assets repository," 2008). As for whether this author would buy it or not, the answer is probably not.

Being a student means that money is tight. However, if money were available and were in a social situation, one might be tempted to buy the product at least occasionally as a niche product (ibid.). The rationale behind Janet's marketing statement may not be rational because she does not know whether or not demand will be elastic or inelastic for her product (ibid., p. 579). According to the textbook, "the general price level is correlated with the pricing policy: above the market (price skimming), at the market ..

They do, however, result in changes within a general price level (ibid., p. 575)." This allows the company to adjust prices dynamically. A price policy defines the initial price and gives direction for price movements over the product life cycle. In opposition to this, a price tactic is where a product is sold near or even below cost in the hope that shoppers will buy other items as well (ibid., p. 671). The "information age" (particularly the internet) is changing the nature of pricing by making it more interactive.

For instance, this author had a conversation with a Wal-Mart manager that explained that their pricing and marketing decisions are made up by tabulating information gathered at the point of sale (the cash register) as the items are scanned in. Statistics are what drives Wal-Mart's marketing, purchasing and other decisions. Method has based its marketing decisions upon polling the existing customer base. By polling the existing customers, they excited them by making them feeling important in the decision making of the company.

By using advocates to reach out, sales increased by involving potential customers in parties. The website further gives customers the ability to interactively give feedback via comments sections on the website blogs. The company nurtures their relationships by acting upon the customer feedback and.