· – Based on the video, how is JC Penny’s making the switch from department store to specialty store? Can JC Penny’s compete with Nordstrom’s in today’s shopping market?
· – What is being communicated in this video? How many times do you see the word “Pepsi?”
· – Based on the article, what can you learn from their mistakes?
·  Read the following examples. Which of the products are relatively elastic, and which are relativity inelastic and why?
o  Refrigerator
o  Gasoline
o  Internet service
o  Pair of jeans
o  Diamond
o  Scarves
o  Orange juice
o  Salt
o  Computer
o  Concert tickets
· Watch the provided video. Marketing activities other than personal selling, advertising, and publicity that enhance consumer purchasing and dealer effectiveness.
o  Goal is speeding the sales process and increasing sales volume.
o  Produce best results when combined with other marketing activities, such as advertising.
o  Cannot overcome poor brand images, product deficiencies, or poor training for salespeople. 
Read the following examples. Determine the type of differential or new-product pricing used as the pricing strategy.

Every year Dillard’s offers a Fourth of July sale on its products.
Coca-Cola quickly gained market share in a new market by pricing products lower than competitors.
At car dealerships it is common to haggle over the final price of a car purchase.
A U.S. textbook publisher sells textbooks in the United States at one price, but will sell foreign editions at a lower price for students in other countries.
Tiffany &  Co. introduced a new emerald necklace by charging the highest  possible price to reflect its prestige.