MKTG 493 Study Guide - Final Guide: Nielsen Corporation, Economic Surplus, Telemarketing

• School: University of Calgary
• Department: Marketing
• Course: MKTG 493
• Professor: Charan Bagga

Document Summary

Product mix all the products and items that a particular seller offers for sale. Length (total number of products/items in a line) Consistency (are products related in some way) are marketed through the same types of outlets, or fall within given price ranges. Product line group of products that are closely related because they function in a similar manner, are sold to the similar customer groups, Endowment effect people irratio(cid:374)all(cid:455) o(cid:448)er(cid:448)alue be(cid:374)efits the(cid:455) (cid:272)urre(cid:374)tl(cid:455) possess relati(cid:448)e to those the(cid:455) do(cid:374)"t. Line stretching: adding products that are higher or lower priced than the existing line. Line filling: adding more items within the present price range. The bias leads consumers to value the advantages of products they own more than the benefits of new ones. It also leads exe(cid:272)uti(cid:448)es to (cid:448)alue the be(cid:374)efits of i(cid:374)(cid:374)o(cid:448)atio(cid:374)s the(cid:455)"(cid:448)e de(cid:448)eloped o(cid:448)er the ad(cid:448)a(cid:374)tages of i(cid:374)(cid:272)u(cid:373)be(cid:374)t produ(cid:272)ts.