MKT360Test3Review

MKT360Test3Review - MKT 360 Test 3 Review Fall 2006...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
MKT 360 Test 3 Review Fall 2006 IMPORTANT CONCEPTS Chapter 12 - Products and Services for Consumers 1. Global Brand : brand used globally, worldwide use of a name, term, sign, symbol, design, or combo, intended to identify goods/ services of 1 seller Advantages of using a global brand : global image, more sales o BUT only satisfies minimum common denominator 2. You would use a national brand when : it appeals to that culture of the country – has meaning to that country = level of separation is higher 3. country of origin effect (COE)” : where products are made – brings an image w/it, but not permanent; changes over time How ethnocentrism affects COE : o ethnocentrism: to believe or feel your culture is superior to all other countries/cultures- can give ppl a better image of the prod or a worse image of the product depending on where the product is made o feelings of nat’l pride can influence attitudes toward foreign products Degree of industrialization affects COE by : o industrialized countries have the highest quality image, + there’s generally a bias against products from developing countries 4. A private brand : brand owned by retailers or wholesalers, (EX: Publix Shampoo) 3 reasons that make private labels formidable competitors : o 1. they provide the retailer w/high margins o 2. they receive preferential shelf space (eye level) + strong in-store promotion o 3. They are quality products @ low prices 5. A product is more than a physical item; it is a bundle of Satisfaction (utilities) the buyer receives. 6. Some of the satisfactions (or utilities) a buyer receives from a product : a. Physical benefits b. Psychological benefits Both are influenced by culture Which ones of these are influenced by culture? 7. Innovation defined from a sociological point of view : a. a product perceived as new by a potential adopter 8. Diffusion of innovations : the process by which the adoption of an innovation spreads The 3 extraneous variables that affect the rate of diffusion of an object : o 1. the degree of perceived newness classified according to the effect of the innovation of established patterns of consumption + behavior o 2. the perceived attributes of the innovation o 3. the method used to communicate the idea 9. The 4 different categories of degree of newness as perceived by a market : a. 1. Congruent Innovations b. 2. Continuous Innovation
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
c. 3. Dynamically Continuous innovation d. 4. Discontinuous Innovation 10. How disruptive of established consumption patterns is a congruent innovation ? Why ? It doesn’t change your patterns at all / it is not disruptive a. EX: sugar from sugar beets 11. How disruptive is a continuous innovation ? a.
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 7

MKT360Test3Review - MKT 360 Test 3 Review Fall 2006...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online