MARKETNG 1001 Lecture Notes - Spring 2018 Lecture 5 - Cocoa Krispies, Brand equity, Barcode

• School: University of Adelaide
• Department: Marketing
• Course: MARKETNG 1001
• Professor: Nicole Swaine

Document Summary

Everything that a person receives in an exchange: a good, a service, an idea. Business products p(cid:396)odu(cid:272)ts (cid:271)ought to use i(cid:374) a(cid:374) o(cid:396)ga(cid:374)isatio(cid:374)(cid:859)s ope(cid:396)atio(cid:374)s, to (cid:396)esell o(cid:396) (cid:373)ake othe(cid:396) products. Product item a specific version of a product that can be designated as a distinct offering amongst an organisations products. Product line a group of closely related product items. Product mix all the products an organisation sells: product mix width the number of product lines an organisation offers, product line depth the number of product items in a product line. Product modification cha(cid:374)gi(cid:374)g o(cid:374)e o(cid:396) (cid:373)o(cid:396)e of a p(cid:396)odu(cid:272)ts(cid:859) characteristics. Planned obsolescence the practice of modifying products so those that have already been sold become obsolete before they actually need replacement. Repositioning changing (cid:272)o(cid:374)su(cid:373)e(cid:396)(cid:859)s perceptions of a brand. Product line extension adding products to an existing product line in order to compete more broadly in the industry. Product line contraction eliminate unpopular and concentrate on successful product lines.