BU121 Study Guide - Midterm Guide: Generic Brand, Promotional Mix, Life Insurance
Document Summary
Explain the stages of product life cycle: describe what is meant by a product. 2: discuss the role of pricing and the strategies used for pricing products. 4: discuss promoion, its elements and factors that afect its use. Illustrate how supply chain management can increase eiciency and customer saisfacion. Master brand: a brand that is dominant that customers think of it immediately when a product category is menioned. 4 major categories of consumer products: consumer products. Relaively inexpensive items that require litle shopping efort; purchased rouinely without planning. Doesn"t mean they"re unimportant or obscure; many well known (i. e. pepsi) Items that are bought ater considerable planning, including brand-to-brand and store-store comparisons of price, suitability and style. Items for which consumers search long and hard, and for which they refuse to accept subsitutes. Sanya gandhi o o o o o o installaions accessories component parts and materials raw materials supplies services.
