MKT 340 Midterm: Test 2 Study Guide.docx
Document Summary
Marketing mix: define product and the major classifications of products and services, product anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need, consumer product bought by the final customer, industrial products bought for further processing; materials, capital items, supplies and services, describe the decisions companies make regarding their individual products and services, product lines and product mixes, individual product decisions involve product attributes, branding, packaging labeling, and product support services, product attribute decisions involve product quality, features, style and design, line stretching, most companies produce product lines (groups of products that are somehow related, discuss branding strategy the decisions companies make in building and managing their brands, brand equity the positive differential effect that the knowing the brand name has on the customer response to the product or service, companies must build and manage their brands carefully.
