When a manufacturer directs the promotional mix to final customers to gain their attention and build demand for the product, it is using a <u>pull</u> <u>marketing</u> strategy.
The goal of pull marketing is to create loyal customers by providing marketing materials that showcase what they’re looking for. As it is best for when you want to draw attention of the consumers to your product.
A pull marketing requires high spending on advertising and consumer promotion to build up consumer demand for a product. For instance, to spend on heavy advertising of new launches of gadgets.
Hence, in the age of consumers educating themselves on products and services, pull marketing has become vital to markets with heavy saturation, like new apps or clothing companies.
To learn more about pull marketing here:
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Solving the dilemma of making infinity computers competitive. Infinity's computers produces notebook computers which are not significantly different from their competitors. The major weakness of the firm is that they have too many employees and they are only relying in just one product.
Answer:
What unit values should Herman use for each of its products when applying the lower of cost or net realizable value (LCNRV) rule to ending inventory?
- Product 1: $26 (cost)
- Product 2: $86 (NRV)
- Product 3: $56 (cost)
Explanation:
Product 1 Product 2 Product 3
Cost $26 $96 $56
Selling price $58 $138 $88
Costs to sell $6 $52 $16
net realizable value $52 $86 $72
which is lower? $26 (cost) $86 (NRV) $56 (cost)
the net realizable value = selling price minus any costs associated to the sales process
