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Marketing Mix: Promotion Strategy part 1
 
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Part 1 of the 3 video series on promotion in the marketing mix presents definitions and cautions. What is NOT promotions and what is? Why shouldn't you use promotions like duct tape? What's in the other videos?
Views: 24875 Soma Datta
Price Psychology and Online Marketing
 
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Research in psychology reveals many tiny things that make prices and discounts seem more appealing. This video shares five simple things that research has found to change price perception--a sure help to marketers! Full online course: http://tiny.cc/v86ezx (use that link for a special promotional price). Please subscribe to the channel and leave a comment below! Be a People Expert: http://BeAPeopleExpert.com Courses: http://socialpsychonline.com/online-courses/ Twitter: https://twitter.com/So_Psych Facebook: https://www.facebook.com/socialpsychonline
Views: 16264 Andy Luttrell
3 Pricing Strategies Everyone Should Know
 
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Visit www.ground-glass.com for more information. Ground Glass is the wedding photography resource for breaking through barriers and finding real-world business information.
Views: 80446 Spencer Lum
Marketing Strategy | Pricing Strategies | External Pricing Factors | Chapter 10
 
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Marketing Strategy : Management Technology Based Marketing | Pricing Strategies | External Pricing Factors | Chapter 10; Introduction (00:00:19) Price (00:00:20 - 00:01:08) Price is set for two main reasons - : 1) Profit Oriented 2) Non - Profit Oriented Pricing Strategy and the Marketing Mix (00:01:09 - 00:02:27) *Promotion - How much money is set aside for promotion * Place - How is the product going to be distributed * Product - are production costs likely to increase External Pricing Factors and Internal Pricing Factors (00:02:28 - 00:04:09) External Pricing Factors * Supply * Market Demand * Competitors * Government - Internal Pricing Factors (It is based on Production Cost , Promotion , Distribution.) Pricing Strategies (00:04:10 - 00:09:30) - There are three main types of Pricing Strategies - : 1) Cost - Based Pricing - This Occurs when an Organization calculates the cost of a product, then adds a percentage mark up (profit)to it and sells at that price 2) Competition Based Pricing - This Occurs when a product's price is based on the competitor's prices not your own costs or consumer demand for the product 3) Value Based Pricing - This occurs when an organization sets its prices based on the consumer's perception of the value of the product. Pricing Strategies for New Products (00:09:31 - 00:12:05) These are o two types - : a) Market Skimming Pricing * Organisations aims for high price b) Market Penetration Pricing * Organisations aims for low price Strategies for Adjusting Pricing (00:12:06 - 00:18:20) * Discount Pricing (It can be classified into different categories for example Cash Discounts , Quantity Discounts , Trade Discounts etc.) * Psychological Pricing (Occcurs according to the Psychological Pricing) * Promotional Pricing (It can be small Packaged Products or product can be offered at a low price) * Segmented Pricing (It can be further categorised as - Location Pricing , Customer Segment Pricing , Time Pricing) * Geographical Pricing (It is because not all regions has the same social , economic Status) * International Pricing (Different Countries or Places will have different prices for the same product) Video by Edupedia World (www.edupediaworld.com) , free online education Download our App : https://goo.gl/1b6LBg Click here https://goo.gl/tPFKi6 to watch more videos on Data Marketing Strategy; All Rights Reserved
Views: 820 Edupedia World
The Best Pricing Strategy - The Apple Way
 
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Please Subscribe here https://goo.gl/6mVLxs to have more videos on business, entrepreneurship, motivation, personal development and success strategy. Setting the right price for a product or a service can be very challenging especially for new entrepreneurs. This is because it can be quite confusing to understand how pricing really works in the market. For example, which of these two products would you buy, the first one is priced at $800 and the second product with the same functions and usage is priced only at $4? Obviously, most of us would choose the $4 product, right? Yes and no. It all depends on 2 important factors which I am going to explain more in this video. If you say yes then why is it that a 256GB iPhone 7 which is priced at $849 is more in demand than a Freedom 251 smartphone which is priced only at $4 a piece? If you say no then why is it that most of us would choose to get a $1 mineral water than the one that is priced at $200 a bottle? So how much should you price your product then? Well, there’s no one right answer to this question because there are so many things that you need to consider such as your overall business goals, how you plan to position your product in the market, your market niche, the costs to produce your products, your product category, and your overall operational costs, just to name a few. Is there a simpler way to do this? Of course, there is, just make sure you know your product category and your positioning strategy. Let me explain. Basically, your product will fall into either one of these two big categories. One is a generic product which can be divided into convenience and shopping products. Convenience products refer to our day to day products such as food, drinks, household products, and so forth whereas shopping products refer to products like clothing, shoes, furniture, and electrical appliances. The second product category is specialty products such as exclusive clothing lines, luxury cars, branded items such as branded bags, watches, shoes, and perfumes. If it is categorised as a generic product just use cost plus profit pricing strategy. Which means, you set your price by adding up the total costs to produce one unit plus the profit you want to make for every product sold. This usually works just fine because almost all generic products are priced this way. But if your product is a specialty product, you need to decide on how you want to position it in the market, more specifically how do you want to position it in the mind of your customers and you can set whatever price you want. The most important thing that you must remember here is this, the moment you enter the market with your product positioning and pricing strategy, it will stay in there forever and, to reposition it later on in the future is almost impossible. For example, Freedom 251 smartphone is positioned as the cheapest and most affordable smartphone in the world and to reposition it just like an iPhone is near to impossible task. Therefore, how should you price your products and services? Decide on your product category and on how do you want to position it in your market. pricing strategies | pricing strategies in marketing | competitive pricing strategy | marketing pricing strategies | pricing methods | business pricing strategies | pricing strategy examples | Follow me on twitter https://twitter.com/moslemanoar Connect with me on linkedin https://my.linkedin.com/in/moslem Follow me on my blog http://moslemanoar.com/ Connect with me on facebook https://www.facebook.com/moslemanoarpage Connect with me on skype moslemanoar
Views: 29056 Success Matters
Promotional Pricing
 
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Promo pricing in Retail Pro allows a retailer to set discounts based on minimum quantities purchased.
Promotional pricing - explained
 
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Promotional pricing is a pricing technique that offers a lower temporary prices in order to stimulate product sales efforts in the short term, often directed at price sensitive and bargain oriented consumers. For example, many retail businesses will offer promotional pricing as a sales incentive to move stock at the end of financial year or after Christmas. Created at http://www.b2bwhiteboard.com
Views: 1729 B2Bwhiteboard
Pricing Strategy Part 1 || Marketing || Hindi || #4minutemarketing
 
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10 different types of pricing 1) Premium pricing It is a type of pricing which involves establishing a price higher than your competitors to achieve a premium positioning. You can use this kind of pricing when your product or service presents some unique features or core advantages, or when the company has a unique competitive advantage compared to its rivals. For example, Audi and Mercedes are premium brands of cars because they are far above the rest in their product design as well as in their marketing communications. 2) Penetration pricing It is a commonly used pricing method amongst the various types of pricing is designed to capture market share by entering the market with a low price as compared to the competition. The penetration pricing strategy is used in order to attract more customers and to make the customer switch from current brands existing in the market. The main target group is price sensitive customers. Once a market share is captured, the prices are increased by the company. 3) Economy pricing This type of pricing takes a very low cost approach. Just the bare minimum to keep prices low and attract a specific segment of the market that is highly price sensitive. Examples of companies focusing on this type of pricing include Walmart. 4) Skimming price Skimming is a type of pricing used by companies that have a significant competitive advantage and which can gain maximum revenue advantage before other competitors begin offering similar products or substitutes. It can be the case for innovative electronics entering the marketing before the products are copied by close competitors or Chinese manufacturers. 5) Psychological pricing It is a type of pricing which can be translated into a small incentive that can make a huge impact psychologically on customers. Customers are more willing to buy the necessary products at $4,99 than products costing $5. The difference in price is actually completely irrelevant. However, it makes a great difference in the mind of the customers. This strategy can frequently be seen in the supermarkets and small shops. 6) Neutral strategy This type of pricing focuses on keeping the price at the same level for all four periods of the product lifecycl. However, with this type of strategy, there is no opportunity to make higher profits and at the same time, it doesn’t allow for increasing the market share. Also, when the product declines in turnover, keeping the same price effects the margins thereby causing an early demise. This pricing is used very rarely. 7) Captive product pricing It is a type of pricing which focuses on captive products accompanying the core products. For example, the ink for a printer is a captive product where the core product is the printer. When employing this strategy companies usually put a higher price on the captive products resulting in increased revenue margins, than on the core product. 8) Optional product pricing It can be frequently observed in the case of airline companies. For example, the basic product of KLM Airlines is offering or providing seats in the airplane for different flights. However, once the customers start purchasing these seats, they are offered optional features along with the seats. Examples may be extra seat space, more drinks etc. Because of this optional product, there is more revenue generated from the main product. Customers are willing to spend for the optional product as well. 9) Bundling price Ever hear of the offer of 1 + 1 free? In the supermarket, when two different products are combined together such as a razor and the lotion for shaving, and they are offered as a deal, then we get to experience the bundling type of pricing first hand. This strategy is mainly used to get rid of excess stocks. 10) Promotional pricing strategy It is just like Bundling price. But here, the products are bundled so as to make the customer use the bundled product for the first time. This type of pricing focuses on buying one, and getting a new type of product for free. Promotional pricing can also serve as a way to move old stock as well as to increase brand awareness. 11) Geographical pricing It involves variations of prices depending on the location where the product and service is being sold and is mostly influenced by the changes in the currencies as well as inflation. An example of geographic pricing can also be the sales of heavy machinery, which are sold after considering the transportation cost of different locations. Click here to read more on geographical pricing strategy. Facebook Page : https://www.facebook.com/4MINUTEMARKETING/ Instagram Page : https://www.instagram.com/4minutemarketing/ If you find this content helpful, do SHARE it with others. This page is for educational purpose, where I share different contents of Marketing. My goal is to help and educate students with simplest way possible. #4minutemarketing
Views: 209 4 Minute Marketing
Marketing Management, Ch 14 Developing Pricing Strategies and Programs
 
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Marketing Management, Pricing Strategy How do consumers process and evaluate prices? How should a company set prices initially for products or services? How should a company adapt prices to meet varying circumstances and opportunities? When should a company initiate a price change? How should a company respond to a competitor’s price change? Marketing Management, Kotler Keller Chapter 14 Developing Pricing Strategies and Programs
Views: 1165 Dr. Sharaf Alkibsi
Promotion
 
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This screen-capture video lesson considers promotion as part of the marketing mix.
Views: 51116 Tim Friesner
Pricing Strategy An Introduction
 
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An introduction to the subject of Pricing Strategy and an overview of some of the tools and theories available in connection with the determining of price of a product or a service. This video is aimed at marketing management students.
Views: 110536 Tine Wade
AQA Business Studies - Unit 3: Pricing Strategies
 
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- Penetration Pricing - Price Skimming - Loss Leader - Competitor Based Pricing - Cost Plus Pricing - Psychological Pricing - Prestige Pricing - Promotional Pricing - Price Discrimination - Predatory Pricing
Retail Promotion Pricing. Drive Sales without Eroding Margins.
 
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As merchants decide which products/offers will drive in-store and online traffic, how will they recover the lost profits? Dr. Jim Sills discusses how current retail science can identify which products/offers are the best revenue drivers; which are the best profit drivers and how to balance the tradeoff. It is time to think about promotions differently! http://cleardemand.com/product/promotion-pricing/
Views: 1176 Clear Demand
Promotional Pricing
 
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Lecturing promotional pricing with powerpoint
Views: 66 TEONG WEI HENG
Price
 
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This screen-capture video lesson considers price and pricing as part of the marketing mix.
Views: 26832 Tim Friesner
Pricing:-  meaning,objective, methods and strategy in hindi
 
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Thank you friends to support me Plz share subscribe and comment on my channel and Connect me through Instagram:- Chanchalb1996 Gmail:- [email protected] Facebook page :- https://m.facebook.com/Only-for-commerce-student-366734273750227/ Unaccademy download link :- https://unacademy.app.link/bfElTw3WcS Unaccademy profile link :- https://unacademy.com/user/chanchalb1996 Telegram link :- https://t.me/joinchat/AAAAAEu9rP9ahCScbT_mMA
Views: 25332 study with chanchal
Pricing strategies promo video
 
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Promo for presentation on pricing strategies at Translation and Localization Conference in Warsaw, March 11-12, 2016
Views: 36 Tess Whitty
Pricing strategies used by firms (focusing on price skimming)
 
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A video explaining the different pricing strategies used by businesses. (continue reading the rest of the explanation for important details). For information on price discrimination, refer to my other video in this channel titled 'Price discrimination - Ansh Jassra'. Here are a few corrections/things to add to my explanations in the video: 1) At 3:09, I said 'resemble' but I meant 'represent; at 6:52 I said 'profits', but I meant 'prices'; at 8:36, I said and wrote 'can angry' but I meant 'can anger'. 2) Promotional pricing is sometimes also used when launching a new product line (sometimes for new businesses as well), but only for that particular product line (in order to increase sales) which differentiates it from penetration pricing, which is low prices for many product by the firm in order to increase its market share. Here are the definitions (from investopedia.com) of the pricing strategies covered in this video: Price skimming = Price skimming is a product pricing strategy by which a firm charges the highest initial price that customers will pay and lowers it over time. As the demand of the first customers is satisfied and competition enters the market, the firm lowers the price to attract another, more price-sensitive segment. The skimming strategy gets its name from skimming successive layers of cream, or customer segments, as prices are lowered over time. Penetration pricing = Penetration pricing is a marketing strategy used by businesses to attract customers to a new product or service. Penetration pricing includes presenting a low price for a new product or service during its initial offering. The lower price helps to lure customers away from competitors. This marketing strategy relies on the idea of low prices making a customer aware of a new product. The price entices the customer to try the new product. Promotional pricing = (definition written by myself, not from investopedia) Promotional pricing is a pricing strategy where the firm reduces the price of particular products (usually of a particular newly launched product line or for clearances - to get all of the product sold) for a short and specified amount of time. Predatory pricing (destroyer pricing) = Predatory pricing is the illegal act of setting prices low in an attempt to eliminate the competition. Predatory pricing breaks anti-trust laws, as it makes markets more vulnerable to a monopoly. Companies that participate in predatory pricing might engage in a variety of activities intended to drive out competitors. This may include unethical production methods to minimize costs. NOTE: (According to BBC Bitesize) A case of predatory pricing was when the Times newspaper was selling for just 10 pence.
Views: 61 Ansh J Economics
Price and Promotions
 
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Analyse, forecast and execute customer-oriented strategies to overcome competitive pricing threats. Learn more about dunnhumby's modular framework of methodologies, tools and customer science, to help you process, understand, model and act upon all the market drivers influencing the shopper's behaviour around pricing and promotions http://www.dunnhumby.com/solutions
Views: 1070 dunnhumby
Promotional Pricing
 
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Views: 77 testingfiles1
Introduction to Marketing: The Importance of Product, Price, Place, & Promotion | Episode 118
 
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Go Premium for only $9.99 a year and access exclusive ad-free videos from Alanis Business Academy. Click here for a 14 day free trial: http://bit.ly/1Iervwb View additional videos from Alanis Business Academy and interact with us on our social media pages: YouTube Channel: http://bit.ly/1kkvZoO Website: http://bit.ly/1ccT2QA Facebook: http://on.fb.me/1cpuBhW Twitter: http://bit.ly/1bY2WFA Google+: http://bit.ly/1kX7s6P Marketing is everything involved in creating, communicating, and delivering value to customers, clients, and even society. Marketing is involved in everything from the market research that goes into determining what products consumers are looking for, to the message that is transmitted to consumers to inform them about a product and even persuade them to purchase it. In between those stages, marketing also plays a prominent role in determining how the product should look, designing the packaging that will enclose the product, deciding whether to sell the product through traditional retailers or entirely online, and establishing a price point that is not only attractive to consumers but allows gives the business the opportunity to be profitable. Now when most people think of marketing they often think of advertising, which is completely understandable given we are are constantly exposed to advertisements at home, at the office, and even during our commutes. Although advertising is a component of marketing it certainly does not explain the entire subject. In fact, advertising is simply one of the four different types of promotion, and promotion is one of the four main elements of marketing. So you can see that advertising, like the other marketing elements, merely plays a role in helping businesses create, communicate, and deliver a single unified message to potential customers. So how does a businesses create, communicate, and deliver value to its customers? Although there are many variables at work, a business can increase the probability of success by creating an effective and consistent marketing mix. Often referred to as the 4 P's, the market mix is a collection of four elements that outline the strategy for how a business intends to reach its customers. These four elements include product, place, promotion, and price. The product includes the tangible product or intangible service that will be used to fulfill a customer need or want. The features of a product, its physical form, packaging, warranties, and even after-sale service are all included under the product strategy. Place includes how a business intends to get products from the location they are produced to where they can ultimately be consumed by consumers. Place is often referred to as distribution since we are dealing with logistics. However, place not only includes the physical distribution of the product but also the channel through which it will be sold. Promotion involves establishing the most effective method for communicating with its customers about the various products that it sells. Promotion is primarily meant to communicate, inform, and persuade. An effective promotion strategy, like the other marketing mix elements, depends upon a businesses knowledge of its target customer. This knowledge allows a business to select the best way to communicate with its core audience and ultimately increase the success of its communications. The last element of the market mix is price. Price is the easiest marketing mix element to alter from a technical sense, however it is the most difficult thing to change. The reason is that altering the price of a product affects what consumers pay for that product, and a business can only charge as much as the market is willing to pay for a product. Technically a business can charge whatever price it wants, but that does not mean that consumers have to pay that price. Like the other marketing mix elements, price can send a message to consumers. For example, many believe that maintaining low prices is the best method to attract consumers. Although this can be an effective pricing strategy for certain items, it can also confuse consumers. For example, Tiffany & Co. sells expensive jewelry and is known for high quality and is one of the most recognizable brands. Because Tiffany & Co is known for quality and maybe even exclusivity, it wouldn't benefit from a low price point. Dealing with the psychological aspect of pricing, consumers tend to view less expensive items as cheap in quality compared to their more expensive counterparts. Although this doesn't always hold to be true, businesses are very aware of the impact that price can have on the perceptions of consumers.
Episode 53: Introduction to Marketing: The Promotional Mix
 
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Go Premium for only $9.99 a year and access exclusive ad-free videos from Alanis Business Academy. Click here for a 14 day free trial: http://bit.ly/1Iervwb To view additional video lectures as well as other materials access the following links: YouTube Channel: http://bit.ly/1kkvZoO Website: http://bit.ly/1ccT2QA Facebook: http://on.fb.me/1cpuBhW Twitter: http://bit.ly/1bY2WFA Google+: http://bit.ly/1kX7s6P Businesses use promotion to educate, inform, and persuade consumers about themselves, their products, and their services. With a variety of promotional methods available to them, businesses need to develop a strategy so that they promote their products in a unified and effective fashion. This strategy is what's known as the promotional mix. In this video I'll describe each element of the promotional mix as well as explain how each is used to enhance a businesses marketing efforts.
PRICE DISCOUNTS & ALLOWANCES IN HINDI | Types | Marketing Management | BBA/MBA/Bcom | ppt
 
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#Marketing_Management #MM #YouTubeTaughtMe This video consists of the following: 1. Concept of pricing 2. Concept of discount pricing 3. Types of discount i. Trade discounts ii. Quantity discount iii. Cash discount iv. Seasonal discount 4. Concept of allowance pricing 5. Types of allowances i. Trade-in allowance ii. Promotional allowance Links for some good referred books: 1. http://amzn.to/2FoIG1H [ Principles of Marketing by Philip Kotler (15/e) ] 2. http://amzn.to/2APU3vZ [ Marketing: An Introduction by Armstrong Gary ] 3. http://amzn.to/2D0MA32 [ Sales and Distribution Management: An Indian Perspective ] ***BEST ONE*** TAGS FOR THE VIDEO: discount meaning discount discount examples discount hindi discount in hindi discount meaning in hindi allowance meaning allowance allowance examples allowance hindi allowance in hindi allowance meaning in hindi pricing strategies discount and allowance types of discounts different types of discounts pricing discount and allowances types of discounts in hindi types of allowances in hindi different types of allowances cash discount trade discount quantity discount seasonal discount trade in allowances promotional allowances price discount examples price allowances examples examples of cash discount examples of trade discount examples of trade in allowances examples of promotional allowances allowance in hindi, allowance meaning, allowance method, new enterprise allowance allowance in hindi, allowance meaning, allowance method, new enterprise allowance, allowance meaning in hindi, allowance method example, need more allowance, no allowance short difference between cash discount and trade discount
Views: 1359 Sonu Singh - PPT wale
Price & Promotion the current situation
 
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Rod Street
Views: 1702 IRI
Apple's Pricing
 
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Rettinger's Rants: Apple's Pricing Get 30% off at ShutterStock: http://www.shutterstock.com (Promo Code: TECHNO11) Jon R is back with an all new show where he rants and raves on various topics in and out of the tech world. On this week's episode, Jon touches upon the hot topic of Apple's pricing.. or rather, "over-pricing" as some would say. In addition to providing his thoughts on Apple's premium prices, he also shares some business insight as to why iPads, iPhones, iMacs and so on are priced the way they are. All this and more in this episode of Rants! http://tchno.be/Tu4JrP
Views: 105267 TechnoBuffalo
The Marketing Mix - Marketing Promotion
 
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On Udemy: https://www.udemy.com/user/365careers/ On Facebook: https://www.facebook.com/365careers/ On the web: http://www.365careers.com/ On Twitter: https://twitter.com/365careers Subscribe to our channel: https://www.youtube.com/365careers This lesson on Marketing strategy introduces the notion of promoting a product. Watch more at https://www.udemy.com/mba-in-a-box-business-lessons-from-a-ceo . This video is part of a series of short lessons about Business Strategy. The complete module can be found on Udemy, as a core part of the MBA in a Box course by CEO Valentina Bogdanova and 365 Careers. The course provides a complete Business Education: Business Strategy, Management, Marketing, Accounting, Decision Making & Negotiation in just under 10 hours. -------------------------------------------------- Marketing module table of contents: Marketing: An Introduction Introduction to Marketing What is Marketing's role? Who works in Marketing? Marketing's key processes Marketing: Building a Marketing Strategy What is a marketing plan? The psychology of customers - needs, wants, and demands Conducting marketing research The different stages of marketing research Collecting Primary Data for Marketing Research Performing client segmentation Choosing a target customer group Marketing: How to set up an effective Marketing Mix The four Ps of Marketing and their importance Marketing: How to set up an effective Marketing Mix - Product decisions The product concept Classifying a firm's products The typical product lifecycle Product branding Product packaging Marketing: How to set up an effective Marketing Mix - Pricing decisions The variables influencing product pricing The demand curve Performing break-even calculations Marketing: How to set up an effective Marketing Mix - Place decisions Setting up product distribution Types of distribution channels The advent of e-commerce Marketing: How to set up an effective Marketing Mix - Promotion decisions The essence of marketing promotion Creating a marketing campaign The importance of social media Marketing: How to set up an effective Marketing Mix - A dynamic concept The four Ps of Marketing - A dynamic concept Marketing: Marketing strategy in the long run Allocating the funds available for Marketing - The budgeting exercise Using KPIs to improve decision-making Short-term vs. Long-term marketing goals Interpreting and calculating the Customer-Lifetime-Value formula -------------------------------- Promotion is essentially the art of communicating a product’s benefits to customers and convincing them to acquire the product once, or ideally, a repeated number of times. There are three degrees of brand loyalty: Awareness Preference And Insistence Marketing communication revolves around the three. Customers must know a product exists. Once they do, we need to convince them it is better than competitor products so they can develop a preference. In the best-case scenario, customers who prefer the product will understand its features well, which will develop informational awareness, and that will make them able to explain its benefits to other customers. Continued purchasing of a product, brand insistence, is the goal of promotional communication. It occurs when customers link a product with their own lifestyle. The feeling of personal connection turns repeated customers into raving fans.
Views: 9350 365 Careers
Episode 104: Pricing Objectives and Strategies
 
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Go Premium for only $9.99 a year and access exclusive ad-free videos from Alanis Business Academy. Click here for a 14 day free trial: http://bit.ly/1Iervwb View additional videos from Alanis Business Academy and interact with us on our social media pages: YouTube Channel: http://bit.ly/1kkvZoO Website: http://bit.ly/1ccT2QA Facebook: http://on.fb.me/1cpuBhW Twitter: http://bit.ly/1bY2WFA Google+: http://bit.ly/1kX7s6P Listen to Alanis Business Academy on the go by downloading our new podcast: iTunes: http://bit.ly/1dwKyWi Stitcher: http://bit.ly/PvPjoa Tunein: http://bit.ly/1gLsDH4k Every business maintains a specific pricing objectives or goal that dictates the decisions that they make with regards to price-setting. Within each pricing objective, businesses have several strategies designed to assist them in achieving their objectives. In this video we'll discuss four of the common pricing objectives as well as highlight several strategies within those objectives. If you have any questions please post a comment in the comments back and I'll get back to you as soon as I can. Thanks for watching.
Retail: Pricing & Promotions
 
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APT CEO Anthony Bruce discusses how retailers are using in-market experimentation to drive their pricing decisions. Learn more here: http://predictivetechnologies.com/industries/retail/pricing-promotional-strategies.aspx
Views: 9239 APTAnalytics
pricing strategies
 
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Pricing Strategy Definition Example Penetration Pricing Here the organisation sets a low price to increase sales and market share. Once market share has been captured the firm may well then increase their price. A television satellite company sets a low price to get subscribers then increases the price as their customer base increases. Skimming Pricing The organisation sets an initial high price and then slowly lowers the price to make the product available to a wider market. The objective is to skim profits of the market layer by layer. A games console company reduces the price of their console over 5 years, charging a premium at launch and lowest price near the end of its life cycle. Competition Pricing Setting a price in comparison with competitors. Really a firm has three options and these are to price lower, price the same or price higher Some firms offer a price matching service to match what their competitors are offering. Product Line Pricing Pricing different products within the same product range at different price points. An example would be a DVD manufacturer offering different DVD recorders with different features at different prices eg A HD and non HD version.. The greater the features and the benefit obtained the greater the consumer will pay. This form of price discrimination assists the company in maximising turnover and profits. Bundle Pricing The organisation bundles a group of products at a reduced price. Common methods are buy one and get one free promotions or BOGOF's as they are now known. Within the UK some firms are now moving into the realms of buy one get two free can we call this BOGTF i wonder? This strategy is very popular with supermarkets who often offer BOGOF strategies. Psychological Pricing The seller here will consider the psychology of price and the positioning of price within the market place The seller will therefore charge 99p instead £1 or $199 instead of $200. The reason why this methods work, is because buyers will still say they purchased their product under £200 pounds or dollars, even thought it was a pound or dollar away. My favourite pricing strategy. Premium Pricing The price set is high to reflect the exclusiveness of the product. An example of products using this strategy would be Harrods, first class airline services, Porsche etc. Optional Pricing The organisation sells optional extras along with the product to maximise its turnover. T This strategy is used commonly within the car industry as i found out when purchasing my car. Cost Based Pricing The firms takes into account the cost of production and distribution, they then decide on a mark up which they would like for profit to come to their final pricing decision. If a firm operates in a very volatile industry, where costs are changing regularly no set price can be set, therefore the firm will decide on their mark up to confirm their pricing decision. Cost Plus Pricing Here the firm add a percentage to costs as profit margin to come to their final pricing decisions. For example it may cost £100 to produce a widget and the firm add 20% as a profit margin so the selling price would be £120.00 4ps marketing mix brand marketing strategy brand strategies brand strategy branding marketing strategy branding strategies branding strategy business and strategy business level strategy business plan pricing strategy example business strategies business strategy business strategy examples business strategy model business strategy template by product pricing strategy communication strategy communications strategy example marketing strategy example of a marketing strategy example of marketing plan example of marketing strategy example of pricing strategy examples of marketing strategies examples of marketing strategy examples of pricing strategies hotel marketing plan marketing and sales strategies marketing and sales strategy marketing communication strategy marketing communications marketing communications strategy marketing mix marketing plan marketing plan example
Views: 3993 Mr. Advertiser
Promotion Analysis Techniques Course Preview
 
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Promotion is a key driver of incremental sales, as well as a point of differentiation for retailers. In this course, participants learn what promotion means for retailers, from both a marketing perspective, as well as a promotion/flyer program perspective. They will learn how retailer promotion planning and execution is completed, and the things that can impact the outcome of a promotion. Promotional assessment is completed, including looking at the incrementality of the promotion, promotional price, ad space and positioning, display support, seasonality and competition. Calculations include lift factor, subsidized sales, incremental sales, correlation and regression analysis, pantry loading, cannibalization, return on investment, and breakeven point. Purchase full course: https://shoptraining.cmkg.org/collections/intermediate-courses-programs/products/promotion-analysis-techniques Our website: http://www.cmkg.org Our store: https://shoptraining.cmkg.org Our course catalog: http://beacon.by/cmkg/products-services Facebook: https://www.facebook.com/hiCmkg/ Twitter: https://twitter.com/CatManKnowledge Linkedin: http://bit.ly/cmkglinkedin If you have any questions or concerns about our products and services, email us at [email protected] Thanks for watching!
Views: 677 Sue Nicholls
Marketing Mix: Promotion Strategy part 2
 
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Now that you have a basic understanding of the definition of promotions from video one, it's time to dig into the strategies and tools in the promotion "P" of the 4Ps of marketing. * What are push and pull strategies? * What tools fall under each promotional strategy? * When do you use the push and pull tools? ...and more. Watch the first video here: http://bit.ly/1QYSEor
Views: 10924 Soma Datta
Marketing Management Lectures - Adapting the price
 
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Marketing Management Lectures - Adapting the price This video will explain: Adapting the price changes promotional pricing Discriminatory pricing Product mix pricing Marketing Management Lectures - Adapting the price https://youtu.be/OqMKvcZKNc0
Views: 497 Bharath Naik L
What is EVERYDAY LOW PRICE? What does EVERYDAY LOW PRICE mean? EVERYDAY LOW PRICE meaning
 
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What is EVERYDAY LOW PRICE? What does EVERYDAY LOW PRICE mean? EVERYDAY LOW PRICE meaning - EVERYDAY LOW PRICE definition - EVERYDAY LOW PRICE explanation. Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. SUBSCRIBE to our Google Earth flights channel - https://www.youtube.com/channel/UC6UuCPh7GrXznZi0Hz2YQnQ Everyday low price (also abbreviated as EDLP) is a pricing strategy promising consumers a low price without the need to wait for sale price events or comparison shopping. EDLP saves retail stores the effort and expense needed to mark down prices in the store during sale events, and is also believed to generate shopper loyalty. It was noted in 1994 that the Walmart retail chain in the United States, which follows an EDLP strategy, would buy "feature advertisements" in newspapers on a monthly basis, while its competitors would advertise weekly. Other firms that have implemented or promoted EDLP are Procter & Gamble, Food Lion, Gordmans and Winn-Dixie. One 1992 study stated that 26% of American supermarket retailers pursued some form of EDLP, meaning that the other 74% promoted high-low pricing strategies. A 1994 study of an 86-store supermarket grocery chain in the United States concluded that a 10% EDLP price decrease in a category increased sales volume by 3%, while a 10% high-low price increase led to a 3% sales decrease. Because consumer demand at the supermarket did not respond much to changes in everyday price, an EDLP policy reduced profits by 18%, while high-low pricing increased profits by 15%. The price set by an EDLP retailer is typically within the range of a high-low retailer's discounted price and its non-discounted price. It is common for competing retailers to segment the market by choosing different pricing strategies. The segments consist of two different sets of customers with different buying patterns, both purchases and pre-purchase research. Price-vigilant consumers, often referred to as "cherry pickers," tend to be attracted to discounts. They are willing to do the research to learn about discounts, and they are also willing to stockpile products when discounts exist. These consumers are better reached by promotional pricing strategies. In contrast, "expected price shoppers" are unwilling to do as much pre-purchase research and less likely to stockpile discounted items. EDLP strategies generally result in lower fixed costs, since they require less advertising for promotional prices, less labor to execute price changes, and simpler pricing and inventory management systems with lower overhead. EDLP can also result in more predictable consumer demand and therefore fewer stocking and supply-chain problems. High-low pricing strategies generally result in lower variable costs, since promotional retailers can move more products by offering discounts. They are able to take advantage of surplus at the wholesale level and also eliminate excess inventory at the retail level. This is particularly useful in markets for perishable goods, such as groceries. If the market is sharply segmented by cherry pickers and expected price shoppers, then EDLP retailers have no incentive to switch to high-low pricing strategies, and vice versa. However, there are circumstances which motivate some retailers to change. In the last several decades, consumers have been less able and less willing to spend time reading circulars and newspaper ads to find the best prices. Price variation in high-low pricing strategies may benefit shoppers who visit stores frequently because they are better able to exploit the fluctuating prices; however, many consumers are shopping less frequently now than in previous decades. These buying trends would predict that many grocers would switch from high-low pricing to EDLP, if the cost to switch was minimal. However, total costs for EDLP are higher in many markets, and it is extremely expensive for retailers to switch strategies. Not only is the initial cost high, but the EDLP strategy must be maintained long enough for consumers to associate lower prices with the brand. Wal-Mart is widely associated with EDLP, since it incorporated the concept into its slogan. Wal-Mart opened its first store in 1962 in a market where Kmart had been the dominant player using a high-low pricing strategy. Kmart's signature "blue light special" is an example of in-store advertising used to promote a temporary discount as part of the high-low pricing strategy. Walmart's success in EDLP and the decline of other retailers have followed the long-term trend in this market and in consumer buying habits. ...
Views: 293 The Audiopedia
Customer-first pricing and promotion from dunnhumby
 
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We’re not like the other pricing people. Our plans begin with the perspective that, behind every purchase, there's a person. You have to understand that person's unique wants and needs in order to make the best pricing and promotional decisions to strengthen his or her perception of value and earn their lasting loyalty. Our expert consultants know what it takes to get your price and promotions performance to the next level, and our powerful software can help you make quick, strategic decisions along the way.
Views: 2443 dunnhumby
Pricing policies and strategies
 
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Subject : Commerce Paper : Marketing Management
Views: 624 Vidya-mitra
Product Promotion - 5 Promotional Strategies that Work
 
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http://theresadelgado.com/successful-marketing-plan/ Grow your business with promotional strategies that work. Small business owners need smart marketing strategies. Learn how to grow business with simple, step-by-step marketing strategies that produce results. http://theresadelgado.com/successful-marketing-plan/
Views: 10810 Theresa Delgado
What Is A Promotional Strategy?
 
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There are numerous ways to promote a marketing strategy is process that can allow an organization concentrate its limited resources on the greatest opportunities increase sales and achieve sustainable, competitive advantage. Googleusercontent search. Here's a checklist of 50 content promotion strategies that will make your life easier. What is promotional strategy? Definition and meaning promotion strategies in marketing examples & concept video types advertising strategy made simple. In this lesson, we'll explore the fourth p promotion ways you can use promotional strategies to grab consumer attention. Product promotion is one of the necessities for getting your brand in front public and attracting new customers. This lesson will cover ways to understand your customers and market this article concentrates is a high level introduction developing promotional strategy for business focusing on advertising other 'pull' tactics promotion term used frequently in marketing one of the mix elements. Promotion (marketing) wikipediamarketing dictionary digital philippines. An organisation's promotional mix strategy can consist of many things definition marketing the choice a target market and formulation most appropriate promotion to influence it perhaps you've heard four ps product, price, place. Promotion strategies boundless. Marketing strategies may differ depending on the unique situation of individual business or product introduction. 11 nov 2009 the part of the marketing mix that has changed the most is promotion. Promotion in four p's cleverism. Nowadays, promotion is radically different than 10 20 years ago 8 aug 2014 as part of the marketing mix, includes all activities that 4) promotional 5) types strategies, 6) managing 27 enter and discover 3 product strategies guarantees success ensure your business attracts new customers how to develop strategy reach largest number in target market using right mix tactics such advertising 23 jul 2010 by arun tyagi, gm, marketing, indiamart at iilm, july if you own a small business, you're always on lookout for. Trade fairs, wholesaler if there is one thing you shouldn't forget about content marketing, it implementing a solid and creative strategy to promote your assets target 9 may 2014 check out these five promotional strategies that can help boost brand!. Top ten promotional strategies. Promotional strategies to boost your brand new breed marketing. It refers mass communication has led to modern marketing strategies continue focusing on brand awareness, large distributions and heavy in push strategy promotional activities are done for the distributors, wholesalers retailers product consumers. A new promotional strategy or campaign can help revitalize your marketing efforts, with nielsen's price and promotion solution, we bring order to both pricing strategies trade content marketers work hard at. A successful product or service means nothing unless the benefit of such a can be communicated clearly to target
Views: 0 Lanora Hurn Tipz
JDA Retail Lifecycle Pricing
 
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Your customers’ wants and needs change quickly. And product lifecycles are shorter than before. Are your retail pricing and promotion strategies keeping up? JDA’s Retail Lifecycle Pricing solution set can help your business become more agile.
Views: 549 JDA Software
Psychological Pricing
 
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-- Created using PowToon -- Free sign up at http://www.powtoon.com/join -- Create animated videos and animated presentations for free. PowToon is a free tool that allows you to develop cool animated clips and animated presentations for your website, office meeting, sales pitch, nonprofit fundraiser, product launch, video resume, or anything else you could use an animated explainer video. PowToon's animation templates help you create animated presentations and animated explainer videos from scratch. Anyone can produce awesome animations quickly with PowToon, without the cost or hassle other professional animation services require.
Views: 6154 Faiz Lelabah
eCommerce Marketing Strategies - 12 Killer Tips
 
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Watch this video to discover 12 killer eCommerce marketing strategies and tips: https://www.ecommercemarketing360.com/ecommerce-marketing-overview/ Tips covered in video: Tip #1 - Use a good cart. Shopify, WooCommerce, BigCommerce Tip #2 - Optimize your product pages both with regards to SEO and Design, product title, description, images, trust badges, reviews, video Tip #3 - Schema markup for google rich cards (schema markup testing tool) Tip #4 - Optimize your product feed via Google Merchant center Tip #5 - Run Google shopping ads Tip #6 - Run dynamic retargeting campaigns across Google display and YouTube. As well as retargeting ads across FB and Instagram Tip #7 - Run FB and Instagram ads and retargeting on those channels as well. Target a very tight demographic of people that fit your brand. Tip #8 - Invest in social media management, build an organic following. Tip #9 - Automate email marketing (holiday, birthdays) and send end of month promotions. Tip #10 - SMS VIP deals Tip #11 - Use a CRM and hire a sales and support person. Follow up call customers. Ask for reviews, sales packages, learn about their needs, ask for referrals, ask to share on social. Kill customer service Tip #12 - create a customer care package. Nice branding. Use to get amazon buyers to buy from your site next time. Include coupon. --- Presented by: JB Kellogg JB Kellogg is the Co-Founder & Co-CEO of Madwire®. Madwire's brands Marketing 360® and Top Rated Local® are popular platforms used to help small businesses grow. Madwire was founded in 2009 and has since grown to nearly 1,000 people and over 100MM in annual revenue. JB & Co-CEO Joe Kellogg were recognized as Glassdoor's Highest Rated CEOs for 3 consecutive years (#1 overall in 2016). JB is passionate about small business marketing, leadership, sales, team culture and more and often shares the tips, tricks and strategies he's learned in life and while growing Madwire. JB Kellogg on LinkedIn: https://www.linkedin.com/in/jb-kellogg-8567a029/ --- Marketing 360® is the #1 Marketing Platform® for Small Business. It has everything you need from design, to marketing, to CRM. Powered by Madwire® - voted one of the Nation's Best Places to Work by Glassdoor in 2016 & 2017! Follow Us: Marketing 360® Website: https://www.marketing360.com/ Madwire® Website: https://www.madwire.com/ Facebook: https://www.facebook.com/marketing360/ Instagram: https://www.instagram.com/marketing360 Twitter: https://twitter.com/fuelsyourbrand Pinterest: https://www.pinterest.com/fuelyourbrand/ Snapchat: https://www.snapchat.com/add/fuelyourbrand Youtube: https://www.youtube.com/marketing360
Views: 296690 Marketing 360
3 Outrageous Restaurant Marketing Ideas You Must Try
 
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http://barrestaurantsuccess.com/3-outrageous-restaurant-marketing-ideas/ Do you know one of the easiest ways to get new customers in your doors? Be outrageous and different from everyone else. Times are tough these days and there’s more competition than ever before. You can’t just be good or average. You must go above and beyond to grab attention and stand out to stay ahead of your competition! Give people a reason to choose you over everyone else I’m Nick Fosberg, and you’re watching Bar Restaurant Success, the place bar and restaurant owners visit to discover how to get ahead in business and in life. Today I’m going to give you 3 outrageous restaurant marketing ideas you should try this year to stand out from the competition and win over brand new customers. As a bonus, I’m going to tell you how to get thousands of dollars in free advertising with these promotions too! The first restaurant marketing idea is a food eating competition. Now you might be saying, Nick, this isn’t a marketing idea, it’s a restaurant promotion. Yes, you are right but soon you’ll see how all these promotions are going to tie into one key strategy to bring you hundreds of new customers based around one simple tactic. So, why run a food eating competition? Because people love to be entertained, it’s different, and nobody else is probably doing one of these right now in your area! You can go to any bar or restaurant and eat and drink and watch the game, but how many are doing fun crazy things like this. I run a pizza eating competition, a one pound burger eating competition, and a taco eating competition every year and my customers love it! I tried hot dogs but nobody wanted to get in it because nobody wanted to eat hot dogs! If you’re going to try this out, ask your customers what they’d want first. The second outrageous restaurant marketing idea is running a contest and giving away a free meal per day for an entire year. Why do this? Because it’s an amazing offer, it grabs attention, and who doesn’t want to sign up for a free meal, per day, for an entire year? Are you going to lose money running this competition? Nope not a penny. Here’s how I run this promotion. Set up a one page, lead capture website to collect people’s information in order to sign them up. Drive traffic there using Facebook ads and getting your staff to sign people up. To make this really profitable for you, make everyone a winner by giving them some kind of discount when they sign up and give them 7 days to use it to create some quick sales. What I do for the winner who wins the free meal for a year is the free meal is tied to a restriction that it’s dine in only and they must either purchase 2 beverages with it or buy another full priced meal. I make this clear before they sign up so there is no confusion. By adding in these restrictions you at the very least break even on each meal. The third outrageous restaurant marketing idea is to get a celebrity chef to come in. Why? Because everyone wants to meet a celebrity and this helps you build instant credibility! The way to start looking for someone who isn’t take expensive is look up the chefs that are on Bar Rescue or one of the other food tv shows and contact them to see what they’d charge to come in. Maybe get some of the beer, liquor, and food vendors to help sponsor it. Here’s the big bonus I wanted to fill you in on. When you run outrageous restaurant marketing ideas like this, you don’t have to come out of pocket to promote them. You can use the press. All you have to do is send out a press release about the event and if don’t know how to write one, google it and get a template. You can write one in 30 minutes at most. Take that press release and send it out to your tv, radio, and news stations. They will interview you before the event and you’ll get exposure that way. Then most likely they will show up the day of the event to get more footage and you’ll get exposure again, absolutely free! This brings me to my conclusion. In today’s competitive market, you have to run promotions and marketing strategies like this. You have to be different then everyone else. You have to stand out. Because if you don’t, you’ll never reach the success you’re really looking for. Stay with me each week and I promise to keep delivering you with new strategies and promotions to keep you one step ahead of the competition. If you have any questions or comments, please leave them below and I’d be happy to answer them!
Views: 57529 Nick Fosberg
Sales Promotion Lecture, MBA  by Ms. Surbhi Mathur.
 
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In this video lecture meaning of sales promotion as well its nature has been discussed. It comprises various factors such as: Sales promotion is a non recurring activity which is action oriented. In today's context sales promotion is not only an element of promotion mix however it has a strategic role to play in marketing mix also.
Views: 61099 Guru Kpo
PRICING AND PROMOTION
 
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Views: 69 3gvideo
New Product and Product mix pricing
 
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New Product Pricing and Product Mix Pricing Strategies -- Created using Powtoon -- Free sign up at http://www.powtoon.com/youtube/ -- Create animated videos and animated presentations for free. PowToon is a free tool that allows you to develop cool animated clips and animated presentations for your website, office meeting, sales pitch, nonprofit fundraiser, product launch, video resume, or anything else you could use an animated explainer video. PowToon's animation templates help you create animated presentations and animated explainer videos from scratch. Anyone can produce awesome animations quickly with PowToon, without the cost or hassle other professional animation services require.
Views: 42 Jordan Wright
Nielsen Everyday Analytics: Price and Promotion
 
02:30
Think globally, act locally. It’s a phrase we often use to talk about charitable work but it applies to your price and promotion spending too. Headquarter trade planning sets the course for the year, yet local teams need to activate it each day with their local retailers - and constantly adapt on the fly. But there’s often a disconnect between planning and the everyday decisions account teams are faced with. Email [email protected] to improve your trade promo ROI every day. http://nlsn.co/6056Dwtep
Views: 1842 Nielsen

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