MGMT 202 Lecture Notes - Lecture 4: Advertising, List Price, Marketing Mix
Advertising
all forms of paid promotions that deliver a message to many people at the same time
Advertising media
the methods of delivering the promotional message to the intended audience
Brand
a name, symbol, word, or design that identifies a product, service, or company
Buying
obtaining goods to be resold
Channels of distribution
the routes products and services follow, including the activities and participating organizations, while
moving from the producer to the consumer
Cost of goods sold
the cost to produce the product or buy it for resale
Decline stage
occurs when a new product is introduced that is much better or easier drive and customers begin to
switch from the old product to the new product
Discounts
reductions from the price of the product to encourage customers to buy
Distribution
the set of activities required to transport and store products and make them available to customers
Financing
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providing money that is needed to perform various marketing activities, such as obtaining credit when
buying and extending credit when selling
Gross profit
term used to indicate the difference between the selling price and the cost of goods sold
Growth stage
occurs when several brands of the new product are available
Introductory stage
occurs when a brand new product enters the market
Inventory management
determines the quantities of materials and supplies needed for production and the amount of finished
products required to meet customer orders
List price
the original price that the seller posts on the product
Manufacturing
a special form of production in which raw and semi-finished materials are processed and converted into
finished products
Markdown
any amount by which the original selling price is reduced before an item is sold
Market
the types of buyers a business wishes to attract and where such buyers are located
Market research
the study of a company's current and prospective customers
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Advertising all forms of paid promotions that deliver a message to many people at the same time. Advertising media the methods of delivering the promotional message to the intended audience. Brand a name, symbol, word, or design that identifies a product, service, or company. Channels of distribution the routes products and services follow, including the activities and participating organizations, while moving from the producer to the consumer. Cost of goods sold the cost to produce the product or buy it for resale. Decline stage occurs when a new product is introduced that is much better or easier drive and customers begin to switch from the old product to the new product. Discounts reductions from the price of the product to encourage customers to buy. Distribution the set of activities required to transport and store products and make them available to customers.
