MGTA02H3 : mngt notes - chapter 6 to 10
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MGTA02H3 Full Course Notes
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Industrial products can be classified as: expense items: consumed within a year (e. g. grain to make bread, capital items: permanent, expensive, and long lasting such as buildings and equipment. Usually cheaper to market and are lower-priced products than the: brand loyalty: customer"s preference of buying a particular brand name, a national brand goal in business. Copyrights grant exclusive rights to tangible express an idea (50 years after death of creator): packaging is the physical container in which a product is sold, including labels. Containers must be shippable yet easy to open for customers. Loss containment/survival strategy (e. g. cutting prices on obsolete products to recover an investment). [know how to do this for the exam] International pricing: pricing a product lower in a foreign market than in a home market is called dumping" (it is illegal). It involves taking a loss to drive competitors out of business. Distribution: the distribution mix is just as important as the marketing mix discussed earlier.
