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music disribution 1


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the amount of money charged for a product or service is called what?
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
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
oligopolistic competition
pure monopoly
What are the 3 approaches to price setting?
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
discount stores
What are some types of wholesalers?
rack jobbers
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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