MKT Flashcards
New product development process
idea generation idea screening concept testing marketing strategy business analysis product development market testing commercialization
Developing brand equity
Brand awareness
Brand image
Brand loyalty
Brand equity
7P’s of service marketing
Product, place, price, promotion, people, process, and physical environment
Service provider
Tiger
high service
high productivity
Service provider
Fox
low service
high productivity
Service provider
Servant’s hearts
high service
low productivity
Service provider
Kitten
low service
low productivity
Five determinants of service quality
Reliability Assurance Tangibles Empathy Responsiveness
Perceived value is effected by…
Reference prices, competitors, substitutes, marketing efforts
cost plus pricing
calculate the cost and then marketing managers add on the margin needed to make the return demanded by upper management or investors.
competitive pricing
they take their price from branded soda drinks that offer similar value.
golden goose pricing
overextending
value pricing
charging a price that is high enough to capture a lot of customer value, but not so high as to encourage business-crushing competition.
6 P’s of retail distribution
product, place, price, promotion, presentation, personnel
