Building the Price Foundation
What is Price?
Price- is the money or other considerations exchanged for the ownership or use of a good
Barter- practice of exchanging goods and services for other goods and services.
Special Fees used
Supply Chain and Logistics
Logistics- getting the right stuff to the right place at the right time and at the lowest price
Logistics Management- The practice of organizing the cost- effective flow of raw materials, in
process inventory, finishe
Managing Marketing Channels and Wholesaling
Marketing Channel- individuals and firms involved in the process of the making a product or
service available for use or consumption by consumers or industrial users.
Agent- represent a si
Retailing- includes all actives involved in selling, renting, an providing goods and services to the
ultimate customers for personal, family, or household use
Optimizes time, place, form, and possession utilities
Place- putting retail
Chapter 12Managing Services
THE UNIQUENESS OF SERVICE
o Services are intangible activities or benefits that an organization provides to
consumers in exchange for money or something else of value.
Shows people how good their life would be with it
Chapter 9Segmenting, Positioning, and
WHY SEGMENT MARKETS?
What Market Segmentation Means
o Market Segmentationinvolves aggregating prospective buyers into groups that:
1.) have common needs
2.) will rasping similarly to a marketing
Developing New Products and Services
Productis a good, service, or idea consisting of a bundle of tangible and intangible
attributes that satisfies consumers and is received in exchange for money or some other
THE VARIATIONS OF PRODU
Managing Products and Brands
THE PRODUCT LIFE CYCLE
o Product life cycledescribes the stages a new product goers thorough in the
marketplace: introduction, growth, maturity, and decline
FIGURE 11-1 PAGE 281 KNOW!
o Primary d
Chapter 8Market Research: From
Customer Insights to Actions
Why was PA House Furniture flawed?
o Only surveyed most loyal customers, not all of the customers in a competitive
THE ROLE OF MARKETING RESEARCH
What is Marketing Research?
MARKETING EXAM 1
TWO GOALS OF MARKETING:
o 1.) DIFFERENTIATE
o 2.) PERCEPTION
MARKETINGis an organizational function and a set of processes from creating,
communication, and delivering value to customers and for managing customer