7.1 Learning Outcomes:
Explain the differences among promotion, publicity, personal selling, and advertising.
Explain the differences among promotion, publicity, personal selling, and advertising.
Describe the advantages and disadvantages of the various advertising media.
Identify four basic methods for preparing an advertising budget.
Explain practical methods for stretching an entrepreneur’s advertising budget.
Explain why pricing is both an art and a science.
Discuss the relationship among pricing, image, competition and value.
Describe effective pricing strategies for both new and existing products and services.
Explain the pricing techniques used by retailers, manufacturers, and service firms.
Describe the impact of credit on pricing.
7.2 Action Required:
Watch the short video at the following link
7.3 Test your Knowledge (Question):
How could an entrepreneur use the Internet to advertise his/her business?
7.4 Instructions
Answer the question available in the “Test your Knowledge” section.
Post your answer in the discussion board using the discussion link below
(Week 7: Interactive Learning Discussion
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