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March 29, 2024, 05:20:14 am

Author Topic: Business Studies questions on Marketing  (Read 932 times)  Share 

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Mandynguyennmm

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Business Studies questions on Marketing
« on: July 16, 2018, 10:25:03 am »
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Hi,
i have questions on:
1. Is price penetration the same as loss leader? or is there a key difference?
2.is there a difference between publicity and public relations?

Thanks


prickles

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Re: Business Studies questions on Marketing
« Reply #1 on: July 16, 2018, 11:03:17 am »
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Hi,
i have questions on:
1. Is price penetration the same as loss leader? or is there a key difference?
2.is there a difference between publicity and public relations?

Thanks
Hey!
1. Price penetration = selling a product at the lower than other competitors and therefore enticing customers at such a low price compared to competitors
 Loss leader = selling a single or few product/s at a very low price, or free, to entice customers to buy the product, and simultaneously purchase other higher priced products from the same store. The example I like to use is the 1$ frozen cokes from maccas - 1$ is not much to pay compared to a 5$ ice cream, but then it is very tempting to buy a large chips, or pack of nuggets to go with your coke, which could end up being more that $5

2. Publicity is an ASPECT of public relations. Publicity is used sorely to attract attention, whereas the purpose of public relations is to accomplish an organization’s stated goals by sending strategic messages to the appropriate audiences in hopes of impacting their knowledge, behaviors or attitudes. So PR is creating and maintaining an image/reputation, using publicity as one tool to do so.

Hopefully this helps and please lmk if you need anything further explained :)