RMG 400 Lecture Notes - Mass Customization

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17 May 2011

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Types of products that customers purchase availability. Impulse: convenience, shopping willing to shop around for (best price, comparative, specialty go to a length to purchase a product at a certain store. Types of products that customers purchase durability / quality: durable, nondurable. Types of products that customers purchase fashion appeal: style personal style, fashion fashion style (changes frequently) Types of products that customers purchase new. 90% of new products fail within a year: factors buyers must consider before adding new products, compatibility, profit potential, appropriateness, competitive actions, obsolescence of existing products. Types of products that customers purchase fads. Fashion adaptation theories www. notesolution. com: downward flow, horizontal flow, upward flow teens innovate the fashion. Using product life cycles and fashion adaptation theories: timing, forecasting, product elimination. Creating product differences: brand names, mass customization. Scope of forecasting - purposes: stimulate planning, promote coordination, support control activities. Developing sales forecasts acquiring needed data: primary data sources, secondary data sources.

Related Questions

37) If a nation had an inflation rate of 12% per year, which of the following groups would most benefit: a) b) suppliers selling products at fixed rates on long-term contracts customers purchasing products at fixed rates on long-term contracts customers purchasing short-term at current market prices suppliers selling short-term at current market prices

The traditional method of making product mix decision considers:

A.producing the products with the highest contribution margins first.

B.not producing products that have a large capacity impact on the bottleneck.

C.producing products that have a large capacity impact on the bottleneck first.

D.not producing the products with the lowest contribution margins at all.

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4. In September 2011, Ford, an automotive company, closed down their car production plant in St. Thomas, Ontario. The plant was closed down because the car it produced, the Crown Victoria, had declining sales, and the plant's equipment was out-dated. One of the reasons for the sales decline, was that customers were moving away from the Crown Victoria towards more fuel efficient vehicles that are more environmentally friendly. This is an example of which marketing environment factor? a) Socio-cultural force b) Competitive force c) Demographic force d) Technological force e) Regulatory force

RMG 400 Lecture Notes - Mass Customization

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