MKTG 311 Lecture Notes - Lecture 7: Opportunity Cost, Marketing Mix, Disposable And Discretionary Income

• School: Binghamton University
• Department: Marketing
• Course: MKTG 311
• Professor: frontera

Document Summary

If i buy this car and i need to replace tires, or maintain it often those are extra costs. Performance risk- will the product do what you intend for it to do: often times may be different from what manufacturers think. Financial risk- $ i outlay for the product + maintaining it: depreciation on a product, loans and financing risk, opportunity cost. Social risk: buying high end products, something trendy and spending $ for it though it"s a trend. Psychological risk: addiction for some things, buyers remorse. Universal set all the cookie brands you may know. Retrieval set the ones you put on the board, what you can retrieve from memory and experience. Marketing mix : product, price, place, promotion. Situational factors: where are we in our life, purchase situation, shopping situation, temporal state. Social clubs, churches, school groups etc: culture. Summarize at least three key trends that are highlighted in this article.