Business > STUDY GUIDE > Principles of Marketing – Final Exam Review (All)
Material Covered: Textbook chapters 11-16 Harvard Business Review article “The Buzz on Buzz” Lecture slides Videos (The Persuaders, Is Wal-Mart Good for America, The Merchants ... of Cool) Managing Products, Services & Brands Product Lifecycle – know the stages of the product life cycle as well as how to diagram it (including stages, profit, sales) and be familiar with what marketing objectives might apply at each stage. Stages of product lifecycle—Introduction, growth, maturity, and decline. Profits peak in growth stage because of competition and aggressive pricing Be familiar with ways to manage products through the life cycle stages Product modification- altering a product’s characteristics, such as quality, performance, or appearance to increase and extend the products sales. Market modification- company tries to find new customers, increase product’s use amongst existing customers, or create new use situations. Product repositioning- changing the place a product occupies in a consumers mind relative to other products. Reacting to competitor’s position Reaching a new market Catching a rising trend Changing the Value Offered—Trading up (additional features), Trading Down (reducing number of features, quality, or price) [Show More]
Last updated: 1 year ago
Preview 1 out of 8 pages
Connected school, study & course
About the document
Uploaded On
May 22, 2022
Number of pages
8
Written in
This document has been written for:
Uploaded
May 22, 2022
Downloads
0
Views
86
In Browsegrades, a student can earn by offering help to other student. Students can help other students with materials by upploading their notes and earn money.
We're available through e-mail, Twitter, Facebook, and live chat.
FAQ
Questions? Leave a message!
Copyright © Browsegrades · High quality services·