MKTG 2101 Lecture Notes - Lecture 8: List Price, Service Recovery, Gross Margin

• School: Temple University
• Department: Marketing
• Course: MKTG 2101
• Professor: Craig Atwater

Document Summary

Product mix width: the number of different product lines. Product life cycle : introduction stage : (cid:13282)(cid:7794), (r&d) , (cid:14364) , (cid:11890) , (cid:11518) (cid:18603) , (cid:18603) , growth stage: (cid:8287) (cid:7766) , (cid:11890) , (cid:8287) (cid:7766), (cid:14950) (cid:18603) : maturity stage : , , , (cid:14934)(cid:7766) , (cid:14950) , decline stage : (cid:14935) , (cid:13282), (cid:11890), Brand extensions: a new product sold with the same brand name as a strong existing brand. Family brand: multiple items under the same brand. Licensing: one firm sells another firm the right to use a brand name. Price elasticity of demand = percentage change in quantity demand / percentage change in price. Inelastic demand: price have little or no effect on the demand. Break-even point: break-even point in units = total fc / selling price - vc, break-even point in dollars = total fc / (1-vc per unit / selling price)