Studied by 0 peoplePrice, product, promotion, place, people
the 5 p’s
selling, risk management, financing, marketing research, purchasing
the other 5 functions
age, gender, income
demographics
local, regional, national, global
geographics
interests, activities, personality
psychographics
adds economic value
economic utility
modifying the physical attributes of a product
form utility
expanding where the product can be purchased
place utility
adding information for customers to know
information utility
all the different products a company has
product mix
group of products in a similar strain
product line
product item
the actual good
how many lines a company has
width
how many products in each line
depth
coming up with new ideas to make a product
idea generation
making a working model of the product
developing a prototype
develop the idea into a few good ones
screening
testing out the product on the market
test marketing
putting the product on the market
commercialization
refining and improving a product line
modifying a line
the line is obsolete
deleting a line
when the product first goes on the market
introduction stage
sales are increasing and the product is popular
growth stage
sales are successful but plateau
maturity stage
sales start to plummet
decline stage
the product is no longer being bought
obsolete stage
allows customers to easily identify a company
brand
what the company is called
brand name
an image that represents a company
brand mark
a character with human-like features to represent the brand
trade character
a logo with a cutout or space that completes the image
negative space logo
a feature or features of the company that are federally protected
trademark
brand owned by the manufacturer
manufacturer’s brand/national (coca-cola)
brand owned by the wholesaler/retailer
private brand (Walmart better goods)
improving/adding new products to a line
brand extension
allowing other companies to use the likeness of one company
brand licensing
combining two companies
co-branding
how many people know about the brand
awareness
how consumers view the brand
image
if people believe the product is worth the price
equity
if people keep buying from the brand
loyalty
strength, weakness, opportunity, threat
SWOT Analysis
what the product is sold in and identifies the company
package
provides information to the customer
label
Note 
Flashcard (39)