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MKTG Exam 2 Review

MKTG Exam 2 Review - MKTG 2800 Exam No 2 Review...

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MKTG 2800 Exam No. 2 Review Sheet (Chapter 11-17) Product Life Cycle (pg 288-296) -Product life cycle describes the stages a new product goes through in the marketplace: introduction, growth, maturity, and decline Brand and Product Manager Description and responsibilities (pg 296-297) - The product manager manages the marketing efforts for a close-knit family of products or brands -Responsible for managing existing products through the stages of the life cycle; developing new products; developing and executing a marketing program for the product line described in an annual marketing plan and approving ad copy, media selection, and package design Value (pg 338-339) -Value is the ratio of perceived benefits to or Value= perceived benefits/price Legal and regulatory components of pricing (pg 379-382) - Price Fixing : A conspiracy among firms to set prices for a product - Price Discrimination : The practice of charging different prices to different buyers for goods of like grade and quality - Deceptive Pricing - Geographical Pricing - Predatory Pricing : The practice of charging a very low price for a product with the intent of driving competitors out of business
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Branding (pg 299) -Branding is a basic decision in marketing products in which an organization uses a name, phrase, design, or symbols, or combination of these to identify its products and distinguish them from those of competitors Brand Equity (pg 300-302) -Brand equity is the added value a given brand name gives to a product beyond the functional benefits provided Trademark (pg 299)
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MKTG Exam 2 Review - MKTG 2800 Exam No 2 Review...

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