BMGT 110 Study Guide - Final Guide: Bullwhip, Parachuting, Order Fulfillment

• School: University of Maryland
• Department: Business and Management
• Course: BMGT 110
• Professor: Turner

Document Summary

12/13/2016 9:33:00 am: nickels- chapters 3, 9, 13, 14, & 15, all four chapters in course packet, review lecture videos assigned after the midterm, exam time: wednesday at 10:30 to 12:30 in vmh 1333, chapter 3. Mass marketing- means developing products and promotions to please large groups of people. That is, there is little market segmentation: relationship marketing- less mass production and more toward custom-made goods and services. Keep individual customers over time by offering them new products that exactly meet their requirements. Break-even analysis is the process used to determine profitability at various levels of sales. Skimming price strategy prices a new product high to recover research and development costs and make as much profit as possible while there"s little competition. Penetration strategy- price new products low, enables the firm to penetrate or capture a large share of the market quickly. Everyday low pricing (edlp)- home depot and walmart.