Marketing Final Exam Cheat Sheet

strategies for growth: ee market penetration, ne market development, en product development,nn diversification downsizing: eliminate products/units that are not profitable/no longer fit the overall strategy prod and serv lvls of prod core cust. value > actual prod: features, design, packaging, quality, brand name > augmented prod: warranty, after-sale serv., prod support, delivery/credit prod+serv class consumer prod: convenience, shopping, specialty, unsought industrial prod: materials+parts, capital items, supplies+serv. new prod dev: idea generation> idea screening> concept dev+test>mrkting strat dev>business analysis>prod devel>test mrkting>commercialization. npd req’s a customer-centered, team-based + systematic effort. prod. life cycle prod. develop: sales, ^investment, innovators introduction: slow sales, market pioneer. growth: ^ market acceptance, ^ profits, ^ comp. early adopter maturity: v sales, lvl off or v profits, v comp, middle majority decline: v sales, v profits, laggards. plc style:fashion (slow), fad (fast). prod+serv decisions quality: total quality mgmt, performance, conformance, consistency. features, style+design, packag’g, label’g, support serv prod line decisions: length (# of items), filling (+ items within range of line), stretching (lengthens beyond current range ). prod. mix decisions (set of all prod lines + items): width (# of different pls) length (total # of items within pls), depth (# of versions offered of each prod) services mgmt : intangibility, inseparability, variability, perishability. mrkting strats serv firms: service-profit chain (links emp with cust satisfaction), internal mgmt (motivate emp to work as team), interactive mgmt (train emp in cust. service)brand: helps customers identify products, consistency, quality, relationship (lovemark). brd advocacy: begins w/trust, close to home, make cust/emp part of story, deliver experience, outperform where they care. brd chars: brd representations [personality] (all