Retailers Marketing final exam notes come in a variety of shapes and sizes: Price is a very important component of the marketing mix definition. Examples are of automobiles, jewelry, and antiques. The grocery store now receives deliveries from the wholesaler in amounts required and at a suitable time and often in a single truck.
Yield management is a large revenue generator for several major industries including airlines and hotels.
The purpose of it is to maximize profits from a fixed, perishable resource. It occurs when manufacturers export a product to another country at a price either below the price charged in its home market or below its cost of production.
The path through which goods and services travel from the vendor to the consumer or payments for those products travel from the consumer to the vendor.
By improving the utility of place, you are ensuring that your customers will find it convenient to buy your product. That coat should be really warm and protect from the weather and the wind and be comfortable when riding a bicycle.
The goodwill attached to the family brand name benefits all brands. Analysis, Planning, Implementation and Control. Shopping Goods The shopping goods are the products that a buyer purchases after conducting a thorough comparison within the same product line but from different shops, stores or outlets.
The product life cycle is an important concept in marketing. Someone else for some other research problem, Internal company records, and reports, precious research conducted has collected the data.
In various cases like transportation delays the product loses its importance in the channel and the sales suffer. Proprietary-based brand equity is based on assets that are attributable to the company e.
It is not used to make short-term profit. In this way, they can maintain a closer relationship with their suppliers than wholesalers do.
Small and upstart businesses will usually not have a wide product mix. The legality of an exclusive distribution agreement can vary depending on the specifics of the case. Predatory pricing is illegal under anti-trust laws, as it makes markets more vulnerable to a monopoly. The staple convenience goods are the basic items that every consumer plans to buy before entering a store and these include bread, milk, paper etc.
This is a type of distribution in which only one distributor is authorized to sell a specific product within a particular territory. Further these are classified into 2 categories: The on going promotional strategies of such kinds are advertising through mass media.
These are also known as final products. Also known as customer-based pricing, is any pricing method that uses consumer demand - based on perceived value - as the central element. But also factors like service, warranty and good value for money play a major role in this. The buyer know exactly how much effort he has to exert to obtain it — normally these are of high value and the may not, or may be durable.
Integrated Market Communications Total integration is a utopic even though desirable! This wholesaler will have a warehouse where he can store bulk shipments. Many general and external factors influence the decisions of marketers.
Augmented Product This refers to all additional factors which sets the product apart from that of the competition. A company can also sell the existing products to new markets by coming up with new uses for their product.MARKETING FINAL EXAM NOTES List of Topics: 7 Ps of service Brand Equity Competition-based pricing (services) Consumer buyer behavior Consumer surplus.
Level 2 relationship marketing is often more effective than level 1 relationship marketing Level 3 At this level, the firm again uses financial and social bonds but adds structural bonds to the formula.
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Learn vocabulary, terms, and more with flashcards, games, and other study tools. introduction to marketing final exam notes. many general and external factors influence the decisions of marketers. the company cannot control these! consumers. View Test Prep - Marketing Final Exam Notes from MCS at University of Guelph.