ARBUS101 Chapter Notes - Chapter 15: Laundry Detergent, Brand Equity, Brand Management
27 Oct 2016
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Total product offer: everything that a customer evaluates when deciding whether to buy something, this can also be referred to as a value package. Brand equity: the value of the brand name and associated symbols. Brand manager: a manager who has direct responsibility for one brand or one product line, this person may also be called a product manager. The product life cycle is a theoretical model of what happens to sales and profit for a product class over time and this is divided into four sections as listed above. Total fixed costs: all expenses that remain the same no matter how many products are made or sold (this includes things like the factory, wages, warehouse renting price. Skimming price strategy: prices a new product hihto recover research and development costs and to make as much profit as possible where there"s little. Everyday low pricing: setting prices lower than competitors and not having usual special sales.
