AFM131 Chapter Notes - Chapter 15: Marketing Buzz, Uptodate, Podcast

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: David H A

Document Summary

Value - good quality at a fair price. Consumer calculates it by subtracting price from the product"s value(benefits) to see if benefits exceeds costs. Change the industry thinks how to make people buy products people do not know their desires - ask consumers what they want doesn"t always work need for product clusters and options horizontal segmentation confront the notion of platonic dish. Product line a group of productions that are physically similar or are intended for a smaller market face similar competition. Product mix a combination of products lines offered additional product stream multiple successful products reach more customers diversifying - strategy when a sale of a product comes to an end, the company is still safe. Some strategies are: different approaches to pricing. Furthering social objectives cost-based pricing: set price based on costs and desired margin of profit.