MGT 200 Lecture Notes - Lecture 6: Barcode, Universal Product Code, Cash Cow
Document Summary
Marketing mix = promotion, price, place, and product. Service- intangible result of the application of human and mechanical efforts to people or objects. Pg produces many different products, including laundry detergents, soap, potato chips, and shampoo. Five product adopter categories: early adopters, early majority, late majority, and laggards. The different types of screwdrivers with different handles are the product line. Sales begin to decline in the maturity stage. Adoption is the final stage of the product adoption process. 2 product lines with 5 products in each product line the product mix has more depth than width. Intangible products that many organizations use in their operations business services. Product adoption process- stages buyers go through in accepting a product. Accessory equipment- filing cabinets, calculators, and basic tools. Interest- second step in the product adoption process. During the intro phase of the product life cycle, profits are typically negative. Shopping products tend to have lower inventory turnover.
