RSM100Y1 Chapter 15: chapter 15
23 Jan 2012
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time utility: makes products available when consumers want them (christmas stuff) place utility: makes products available where customers can conveniently purchase them. ownership utility: by conveniently transferring product ownership from store to customer. substitute products: a product that is dissimilar from those of competitors but that can fulfill the same need. brand competition: competitive marketing that appeals to consumer perceptions of similar products. International competition: competitive marketing of domestic against foreign products. Low prices generally lead to large sales volume. In contrast, some businesses restrict production to one market segment. In marketing, the process of fixing, adapting, and communicating the nature of the product itself is called positioning. Identifying market segments: y by definition, the members of a market segment must share some common traits or behaviours that will affect their purchasing decisions y. In identifying market segments, researchers look at geographic, demographic, psychographic, and product-use variables.
