RSM100Y1 Chapter Notes - Chapter 16: Brand Loyalty, Sales Promotion, Brand Equity
Document Summary
Features: qualities- tangible and intangible- that a company builds in to its products. Value package: product marketed as a bundle of value-adding attributes, including reasonable cost. Buyers fall into 2 basic groups; consumer and industrial. Marketing products and services to consumers is very different from marketing them to companies. Capital services: services for which long term commitments are made (eg. purchases for employee food services, equipment maintenance) The group of produces a company has available for sale: product lines: a group of similar produces intended for similar group of buyers who will use them in a similar fashion. Product mortality rates: takes about 50 new product ideas to generate one product that finally reaches the market since it has become difficult with the number of new products increasing dramatically each year. Plc: the concept that the profit-producing life of any product goes through a cycle of intro, growth, maturity (leveling off), and decline.
