COMMERCE 1E03 Lecture Notes - Lecture 15: Sodium Bicarbonate, Profit Margin, Marketing Mix
18 Dec 2016
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Chapter 15- managing the marketing mix: product, price, place and promotion. Look at benefits and then subtract the cost to see if the benefits exceed the cost. To satisfy consumers, marketers must learn to listen better and constantly adapt to changing market demands. P(cid:396)odu(cid:272)t de(cid:448)elop(cid:373)e(cid:374)t is a ke(cid:455) a(cid:272)ti(cid:448)it(cid:455) i(cid:374) a(cid:374)(cid:455) (cid:373)ode(cid:396)(cid:374) da(cid:455) (cid:271)usi(cid:374)ess (cid:271)e(cid:272)ause (cid:271)usi(cid:374)ess" must constantly monitor changing consumer wants and needs. Total product offer: everything that consumers evaluate when deciding whether to buy something. When people buy a product, they may evaluate and compare total product offers on many dimensions including tangible and intangible. Potential components of a tpo (figure 15. 1: price, brand name, convenience, package, store surroundings, service. Internet access: bu(cid:455)e(cid:396)"s past e(cid:454)pe(cid:396)ie(cid:374)(cid:272)e, guarantee, speed of delivery. Image created by advertising: reputation of producer. Product line: group of products that are physically similar or are intended for a similar market: ex. P&g product lines include hair care, oral care and household cleaners.
