test 3 study guide

test 3 study guide - US dependence on service, economic...

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MKTG 350 Test 3 Study Guide Chapter 10 Product line and associated terms SKU Brand Branding Value of branding (hint: not an essay) 4 components of brand equity Brand ownership Manufacturers/national brands Private labels/store brands Brand naming strategies Brand extensions Brand dilution Brand licensing Co-branding Chapter 11 Benefits of new products Pioneers 5 types of new products (not in textbook – lecture only!) Diffusion of innovation – and the groups within this category; know general characteristics of each Opinion leaders 5 factors influencing the rate of adoption Sources for new product ideas Concept testing Product development – prototype, alpha and beta testing Market testing PLC – know what’s happening in each stage Ethical issues in product development Chapter 12 Service-product continuum
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Unformatted text preview: US dependence on service, economic importance of service (4 areas) Differences between services and goods Chapter 13 Price Price and value 5 Cs of pricing Profit orientation Sales orientation Competitor orientation competitive parity & status quo Customer orientation Demand curve Prestige pricing Price elasticity of demand elastic and inelastic demand Income effect Substitutes and complements Fixed and variable costs Break even point Gray market Chapter 14 Cost-based, competitor-based and value-based pricing strategy Reference prices (note: internal reference price info from lecture only) EDLP vs. high-low strategy Price skimming Market penetration Advertising allowances Slotting allowance Price bundling Leader pricing Bait and switch Predatory pricing...
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This note was uploaded on 06/14/2011 for the course MKTG 350 taught by Professor Worsham during the Spring '10 term at South Carolina.

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test 3 study guide - US dependence on service, economic...

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