BUSI 1800 Chapter Notes - Chapter 15: Telemarketing, Sales Promotion, Exponential Growth
16 Nov 2016
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Value: good quality at a fair price. Total product offer (value package): everything that customers evaluate when deciding whether to buy something; also called a value package. Product line: group of products that are physically similar. Product mix: the combination of product lines offered by an organization. Bundling: combining goods and/or services for a single price. Brand: name, symbol, or design that identifies the goods or services of one seller or group of sellers, and distinguishes them from the goods and services of competitors. Brand equity: the value of the brand name and associated symbols. Usually the company cannot know the value of its brand until it sells it to another company. Brand loyalty: the degree to which customers are satisfied, enjoy the brand, and are committed to further purchases. Product life cycle: theoretical model of what happens to sales and profits for a product class over time. It consists of four stages: introduction, growth, maturity, and decline.
