MCS 3500 Study Guide - Final Guide: Usability, Centroid, Pricing Strategies

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 3500
• Professor: Tyler Hummel

Document Summary

Specifics from exam review class (things to know combined with chapter reviews, problems, excel explanations and solver uses) *everything highlighted in red was his advice from the exam review class. *every title highlighted in blue is an in class concept. *every title highlighted green in a textbook explanation. They may go up but often at the expense of market share! Marketing engineering strives to find out what if . Opportunity cost enables you to establish the potential value alternatives between two pricing options: conceptual marketing is when the decision maker relies on their own mental model, marketing engineering is based on supportive data and model. Marketing engineering is a systematic approach to harness data and knowledge t dive effective marketing decision making through technology and process: automated marketing the decision process using sophisticated information systems. Examples of marketing engineering: verbal proof, box and arrow, graphical data, mathematical data, spreadsheets data.