THE PRODUCT MIX
Assortment of product lines and individual product offerings that the company
Product mix widthNumber of product lines a firm offers.
Product mix lengthNumber of different products a firm sells.
Product mix depthVari
Introduction to Marketing
MGMT 473: Principles of Marketing
Marketing is an organizational function and
represents an exchange of value and a set
of processes used in creating,
communicating, and delivering value to
Emergence of the Marketing Concept
Consumer orientation Business philosophy incorporating the marketing concept
that emphasizes first determining unmet consumer needs and then designing a
system for satisfying them.
Marketing concept Company-wide consum
Promotion- Marketing Notes
Promotion and Advertising (similarbut different)
Promotion is one of the Four Ps of marketing (Product, Price, Place, &
The Promotional Mix includes various communication techniques such as
advertising, personal sell
Market Segmentation, Targeting and Positioning
Market Segmentation, Targeting and Positioning Market segmentation is the process of
dividing the total market for a good or service into several smaller, internally
homogeneous groups. Segmentation is necess
Marketing Psychology: Consumer Behavior
Consumer behavior Process through which buyers make decisions.
Marketers borrow extensively from psychology and sociology to better
understand consumer behavior.
Consumer behavior is usually understood as a funct
Goods & Service Strategies
WHAT IS A PRODUCT?
People buy want satisfaction, not objects.
Example: Consumers buy televisions because they want entertainment, not
because they want a box with a screen.
Product Bundle of physical, service, and symbolic at
Place, Distribution & The Value Chain
Distribution Movement of goods and services from producers to customers.
Marketing (distribution) channel System of marketing institutions that
enhances the physical flow of goods and services, along with ownership
MANAGING BRANDS FOR COMPETITIVE ADVANTAGE
Brand Name, term, sign, symbol, design, or some combination that identifies the
products of one firm while differentiating them from the competitions.
Brand recognition Consumer
Today, it seems as though everyone is aware of ethics, there meaning, and what ethical
values he or she holds and how they apply to his or her everyday life. Similarly, many companies
are changing their structures, training their staff and defining the hi
MGMT 473 Principles of Marketing
Exam #2 Study Guide
Exam # 2 will consist of multiple choice, true & false, as well as short essays. The exam will be
graded on a 100 point scale and will count towards 20% of your overall final course grade.
Industrial Products= B2B Products
B2B= business to business
Are used in the manufacturing process and are sold to other businesses which in turn well to
Consumer Products= B2C Products
B2C= Business to consumer/cu
Definition- division of the total market into similar, yet smaller parts. This is the Target Market
4 ways to segment-geographic; location
-demographic; race, gender, age
-psychographic; VAL; values, attitudes, lifestyles
Principles of Marketing
PART I: The American Marketing Association (AMA)
1) What is the AMA?
AMA represents the American Marketing Association, an association for those
involved in the development and progression of marketing, whether individually
Place- Distribution and the Value Chain
1. The location- the place is where the exchanges of value occur, and where
ownership utility is created.
2. The Distribution Channel- how a product moves from the producer (i.e. the
I. Competitive Profile Matrix (CPM)
Strategy formulation tool
Evaluates an organizations competitive environment
Can be performed at various organizational levels, such as
o the organization as a whole,
o functional areas within the o
ETHICS & MARKETING
TEAM #2 PRESENTATION
WHAT ARE ETHICS?
Individual, moral principles and
values relating to human conduct,
with respect to the rightness and
wrongness of certain actions.
Principles of right conduct that
shape the decisions people or