COMMERCE 1B03 : Ch. 15.pdf
15 Dec 2014
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Document Summary
Chapter 9 managing the marketing mix: product, price, place, and promotion. When consumers calculate the value of a product, they look at the benefits and then subtract the cost to see if the benefits exceed the costs. To satisfy consumers, marketers must learn to listen better than they do now and to adapt constantly to changing market demands. Product development is a key activity in any modern business, anywhere in the world. Total product offer (value package): everything that consumers evaluate when deciding whether to buy something. Product line: a group of products that are physically similar or are intended for a similar market. Product mix: the combination of product lines offered by a manufacturer. The mix may include both goods and services to ensure that all of the customer"s needs are being met. A diversified mix would minimize the risks associated with focusing all of a firm"s resources on only one target market.
