Textbook Notes (368,611)
Canada (162,009)
MGTA02H3 (363)
Chapter 5

Chapter 5

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Management (MGT)
Chris Bovaird

Ch.5 Utility ability of a product to satisfy a human want or need Four kinds 1. Time utility produces available when consumers want them 2. Place utility makes products available where customers can conveniently purchase them 3. Ownership utility conveniently transferring ownership from store to customer 4. Form utility turning raw materials into finished ornaments Consumer goods products purchased by individuals for their personal use Industrial goods products purchased by companies to use directly or indirectly to produce other products Services intangible products, such as time, expertise, or an activity that can be purchased Marketing mangers mangers responsible for planning and implementing all the marketing-mix activities that result in the transfer of goods or services to customers Marketing plan a detailed strategy for gearing the marketing mix to meet consumer needs and wants Marketing mix the combination of product, price, place, and promotion strategies used in marketing or product Product a good, service, or idea that satisfies buyers needs and demands Product differentiation the creation of a product or product image that differs enough from existing products to attract consumers Prices that part of the marketing mix concerned with choosing the appropriate price for www.notesolution.com
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