MKT 327 Study Guide - Midterm Guide: Adaptive Management, Brand Equity, Promotional Mix
Document Summary
Class 18: basic product decisions, product objectives: to specify the most basic direction or focus for a firm"s product or service enabling it to select skeleton or starting marketing mix strategies. a. i) life cycle stages: (a. i. 1) Customer service decisions can be categorized as: f. i) service mix decisions, f. ii)service quality decisions and f. iii) Class 19: communication: the process of conveying a message to others; it requires six elements: a source, a message, a channel of communication, a receiver, and the processes of encoding and decoding, promotion. Pioneering institutional ads are used for announcements about what a company is, what it can do, or where it is located. b. iii) Competitive institutional ads promote the advantages of one product class over another and are used in markets where different product classes compete for the same buyers. b. iv) Class 21: social media: online media where users submit comments, photos, and videos.
