Marketing Study Guide Test 2

Marketing Study Guide Test 2 - Marketing Study Guide Test 2...

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Marketing Study Guide Test 2 Classifying products and services: Products: Consumer products: 4 types 1) Convenience – items the consumer purchases frequently (ex: toothpaste, soap, cake mix) aware of brand but will accept substitutes price, availability and awareness stressed 2) Shopping - items for which the consumer compares several alternatives on criteria such as price, quality, or style (ex: cameras, tvs, airline tickets, regular cars) Prefer specific brand but will accept substitutes 3) Specialty – items that consumer makes a special effort to search out and buy (rolls Royce cars, heart surgery, rolex watches) Extreme brand loyalty and uniqueness of brand and status is stressed 4) Unsought - items that the consumers does not know about or knows about but does not initially want Business Products: Their sales are often the result of derived demand (the sales of business products are frequently a result from the sale of consumer products Components are items that become a part of the final products( like raw materials or door hinges which are assembly parts) These use support products ( used to assist in producing goods and services): 4 types 1) Installations- such as buildings and fixed equipment- ford not move 2) Accessory equipment - tools and office equipment (like drills and hammers) 3) Supplies - things like stationary, paper clips, and brooms- used up in production process but not a part of the product (also like sandpaper) 4) Industrial services- such as maintenance, repair and legal services Product Items, Lines, and Mixes: Product item = a specific product that has a unique brand, size, or price Example: detergent comes in different sizes and each size has its own SKU bar code thing Product Line= a group of product or service items that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed to the same outlets, or fall within a given price range Like all the different kinds of ipods offered Nikes product line includes shoes and clothing Each has its own marketing strategy Product Mix= consists of all of the product lines offered by an organization Like Apple’s computers, laptops, Ipods, ipones, etc. Like a company that sells both sporting equipment and plumbing supplies New Products: Newness: you must compare it with existing products If it is functionally different and affects the amount of learning effort customers must exert to use the product 3 types of newness: 1 ) continuous innovation- consumers don’t need to learn any new behaviors – such as like adding a whitening toothpaste – just need to focus on generating awareness and widespread distribution
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2) Dynamically continuous innovation – only minor changes in behavior are required- Like adding an electric toothbrush, cd player, auto flash unit, --key is to advertise points of difference and benefits to consumers 3) discontinuous innovation- requires new learning and consumption patterns by
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Marketing Study Guide Test 2 - Marketing Study Guide Test 2...

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