BUSN 102 Study Guide - Final Guide: Radio-Frequency Identification, American Marketing Association, Coca-Cola Cherry
26 Sep 2016
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Document Summary
According to the american marketing association, value is a foundation of marketing. Value -- good quality at a fair price: adapting products to new markets is an ongoing challenge, product development is a key activity in any modern business. Necessity products: internet service, cell phone service, cable television, discount apparel, haircuts and coloring, fast-food. Expendable products: luxury handbags, satellite radio, specialty apparel, high-end cosmetics, facials. Distributed product development -- the handing off of various parts of your innovation process - often overseas. The increase in outsourcing has resulted in using multiple organizations separated by cultural, geographic and legal boundaries. Total product offer -- everything consumers evaluate when deciding whether to buy something. Products are evaluated on many different dimensions, both tangible and intangible: marketers must think like and talk to consumers to find out what"s important. Product line -- a group of products that are physically similar or intended for a similar market.
