BA 101 Lecture Notes - Lecture 4: List Of Fables Characters, Marginal Revenue, Contribution Margin

• School: University of Oregon
• Department: Charles H. Lundquist College of Business
• Course: BA 101
• Professor: Steve Engel

Document Summary

Business 101 lecture 4 marketing & service. Marketing mix: product, price, place, promotion, service. Marketing: the activities designed to provide goods and services that provide value and satisfy customers. Consumer behavior: processes a customer uses to make purchase decisions, s well as to use and dispose of purchased goods or services, also includes factors that influence purchase decisions and the product use. Attractiveness score: attractiveness scores represent market research that has been done for you and provided for your use. Profit maximization: setting prices so that total revenue is as large as possible relative to total costs. Cost of goods: the expense of obtaining materials for making the products sold. Price: price is that which is given up in an exchange to acquire a good or service. The impact of service: the service element can be particularly influential for commodity" products those products that are similar to each other without meaningful differentiation.