MCS 1000 Lecture Notes - Lecture 11: Trade Secret, Marketing Mix, Mass Communication

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Raffi Sarmazian

Document Summary

Ho(cid:449) stages of the produ(cid:272)t life (cid:272)(cid:455)(cid:272)le relate to a fir(cid:373)(cid:859)s (cid:373)arketi(cid:374)g o(cid:271)je(cid:272)ti(cid:448)es a(cid:374)d (cid:373)arketi(cid:374)g (cid:373)i(cid:454) actions. Large investments in product development: create awareness, stimulate trial, primary vs selective demand. Rapid increase in sales: new and repeat purchasers. Harvesting: retain product, reduce marketing support. Shortening of product life cycle: mass communication and technological change. Altering a produ(cid:272)t(cid:859)s (cid:272)hara(cid:272)teristi(cid:272)s to tr(cid:455) to i(cid:374)(cid:272)rease a(cid:374)d e(cid:454)te(cid:374)d sales: quality, performance, appearance, features, packaging. Changing the value offered: trading up, trading down, downsizing. A name, phrase, design, or symbol to identify products and distinguish them from competitors. A word, device (design, shape, sound, or colour), used to distinguish goods or services. A commercial, legal name under which a company does business. Identifies that a firm has legally registered its brand name so that the firm has exclusive use. A set of human characteristics associated with a brand name.