AFM131 Chapter Notes - Chapter 15: Brand Equity, Marketing Mix, European Cooperation In Science And Technology

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: Mohsin Bashir

Document Summary

Managing the marketing mix: product, price, place and promotion. Explain the concept of a total product offer and summarize functions of packaging. Contrast brand, brand name, and trademark and discuss the concept of brand equity. Identify various pricing objectives and strategies and explain why non-pricing strategies are growing in importance. Explain the concept of marketing channels and the value of marketing intermediaries. Discuss retailing and explain the various kinds of non-store retailing. Define promotion and list the five traditional tools that make up the promotion mix. When consumers calculate the value of a product, they look at the benefits and then subtract the cost to see if benefits exceed the costs. Total product offer: everything that consumers evaluate when deciding whether to buy something (ex price, brand, service, speed of delivery, packaging, convenience) Product line: a group of products that are physically similar or are intended for a similar market.