[MARK301] - Final Exam Guide - Comprehensive Notes for the exam (24 pages long!)

• School: University of Alberta
• Department: Marketing
• Course: MARK301
• Professor: Peter Popkowski

Document Summary

Variations of products: product: anything that can satisfy wants or needs, intangible products: eg. disney trying to sell dreams. Product levels: core product actual product augmented product: eg. People do(cid:374)"t buy featu(cid:396)es, they buy be(cid:374)efits. Service: activity or benefit that one party offers to another that is intangible and does not result in the ownership of anything. Product types: convenience: frequently purchased, consumable goods. Relatively inexpensive: shopping goods: products you shop around for, compare. Very expensive: unsought goods: so(cid:373)ethi(cid:374)g that"s (cid:374)ot wa(cid:374)ted f(cid:396)e(cid:395)ue(cid:374)tly but needed. Funeral services, insurance: one product can have more than one of these classifications. Selective distribution: fewer outlets where they are needed. Exclusive distribution: determined the best place for few outlets. Only 10% of new products are still on the market and profitable after three years: legally: a new product is something as new as 12 months in. Canada: from a company: line extension, significant innovation.